This property is Off-Market

Highway 169 and 116th Street North
Owasso, OK 74055 ·

14,820 SF · Retail For Sale

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Walgreens Pharmacy

Price N/A Occupancy 100%
Building Size 14,820 SF No. Stories 1
Property Type Retail Tenancy Single
Property Sub-type Free Standing Bldg Year Built 2009
Property Use Type Net Lease Investment with 10+ years left on lease Lot Size 1.63 AC
Cap Rate 7.50%
Listing ID: 16320280 Date Created: 07/16/2009 Last Updated: 11/20/2009

Description

Stan Johnson Company is pleased to offer for sale to qualified investors an attractive free-standing retail property with a long-term lease located in Owasso (Tulsa), Oklahoma.

The fee-simple property is 100% leased and guaranteed by Walgreens (NYSE: WAG), which holds an A+ rating with Standard and Poor's.

In the past decade Owasso has been experiencing rapid growth and is currently the fastest growing city in Oklahoma. Owasso has become home to more than 35,000 residents and serves an immediate market area comprised of around 90,000 Oklahomans. Owasso is located approximately 5 miles north of Tulsa off of Highway 169, and east of Highway 75 North. Owasso is a part of the Tulsa Metropolitan Statistical Area, a region of 905,755 residents projected to reach one million between 2010 and 2012. Walgreens is located in an area that has experienced 116% population growth in the past 10 years.

Statistics:
- Over 1 million people live within 50 miles of downtown Owasso
- Living in Owasso means enjoying all the amenities and choices available in one of America' s most livable metropolitan areas without living in the city!
- Oklahoma ranks No. 6 in The U.S. Economic Freedom Index: 2004 Report, which ranks the 50 states based on how friendly their governments are toward free enterprise.

Highlights

  • Brand-new, free-standing Walgreens store located in Owasso (Tulsa), Oklahoma
  • Fastest growing community in Oklahoma
  • Corporate-backed (S&P: A+) lease in place, with a 25-year initial lease term and 50 years of renewal options
  • Located at Hwy 169/20 (116th St. N.) across from Garrett Creek, a 65 acre master planned community with retail anchored by Reasors
  • Other nearby tenants include McDonald's and QuikTrip
  • Property qualifies for accelerated depreciation on a 22 year schedule with 50 bps additional cash flow

Research

Highway 169 and 116th Street North, Owasso, OK 74055 (Tulsa County)

Owasso Market Trends - Asking price index trends, sale price trends, asking rent trends

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