Listed by Marcus & Millichap - Manhattan
$1,395,000
3.5 Miles to Downtown Tulsa - 2,500 Students with in 2-Miles
Details
Property Type Retail
Sub Type Convenience Store, Grocery Store
Square Footage 9,100
Cap Rate 6.25%
NOI $87,180
Occupancy 100%
Tenancy Single
Brand/Tenant Dollar General
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 02/26/2034
Remaining Term 7.7
Rent Bumps Yes
Lease Options 5, 5-Year
Year Built 2018
Acreage 1.120
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 02/27/2019
Ground Lease No
Available Individually or as a Portfolio -- Absolute NNN
Investment highlights
- Absolute Net (NNN) Dollar General Features Zero Landlord Responsibilities And A Prime Corner Location At The Intersection Of North Lewis Avenue And East Tecumseh Street, Benefiting From Daily Traffic Counts Exceeding 9,100 Vehicles And Strong Visibility To Area Consumers
- A Corporate Guarantee From Dollar General, A Leading National Retailer With More Than 20,000 Locations Nationwide And A BBB Credit Rating From S&P, Offering Investors The Confidence Of An Established And Creditworthy Tenant
- The Property Benefits From Outstanding Demographic Characteristics, Including More Than 144,200 Residents Within A 5-Mile Radius And Average Annual Household Incomes Exceeding $71,800, Supporting Long Term Tenant Success
- Backed By Approximately 7.5 Years Remaining On The Base Lease Term, The Property Benefits From 10% Rent Increases In Each Option Period, Delivering Long Term Income Security And A Strong Hedge Against Inflation
- Situated Just 3.5 Miles From Downtown Tulsa, The Subject Property Occupies A Prime Location Within The Heart Of The Tulsa MSA, Providing Access To A Metropolitan Population Of More Than 1.1 Million Residents And Strong Long-Term Consumer Demand
- Positioned Within 2 Miles From Four Highly Attended Schools, Springdale Elementary, Celia Clinton Elementary, Sequoyah Elementary, And Booker T. Washington High , with Combined Enrollment Exceeding 2,500 Students, Helping Support Recurring Traffic
Listing Contacts
Listed by Marcus & Millichap - Manhattan
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$87,180.00
$7,265.00/mo
Valuation Metrics
0
DSCR
6.25%
Cap Rate
6.25%
ROI
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