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1004 N Boomer Rd 2,805 SF Retail Building Stillwater, OK 74075 $1,999,999 ($713.01/SF) 6.60% Cap Rate
Executive Summary
10-year initial NNN lease with HTeaO.
May 1st, 2022, to April 30th, 2032, with 4x five-year extension options. Year 5 NOI: $131,935.12.
Founded in 2009, TX-based HTeaO is the largest iced tea franchisor in the United States. The stores offer both in-store and drive-through drink options, including more than 26 flavors of sweetened and unsweetened iced tea, plus a coffee menu and filtered water. The company launched its first franchised location in 2018 in Midland, TX. To date, HTeaO has opened 140 locations with 50 more under construction, and has awarded 426 franchise licenses. HTeaO is present in Florida, Kansas, New Mexico, Oklahoma, and Texas. In January 2023, the company announced that Crux Capital and Trive Capital, two Dallas-based private equity firms, acquired a minority stake in HTeaO. The partnership positions HTeaO to accelerate geographic expansion, attract key talent and employ innovative technology to improve quality of service while enhancing the customer experience.
Property Facts
Amenities
- Corner Lot
- Pylon Sign
- Restaurant
- Security System
- Signage
- Drive Thru
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Accommodation and Food Services
- -
- -
- Triple Net
- Apr 2032
HTeaO began as a small family business in Amarillo, Texas in 2009, created by founders Justin Howe, Gary Hutchens, and Kim Hutchens. The company officially launched its franchising model in 2018 after years of development. The brand focuses on providing high-quality iced tea beverages made with filtered water and natural ingredients. While tea remains their core product, they also serve coffee drinks and snacks. The business has expanded beyond Texas into multiple other states through franchising. HTeaO emphasizes community building among tea enthusiasts and offers a variety of signature flavors.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Accommodation and Food Services | - | - | Triple Net | Apr 2032 |
Nearby Major Retailers
Property Taxes
| Parcel Number | 600012528 | Improvements Assessment | $143,911 |
| Land Assessment | $87,239 | Total Assessment | $231,150 |
Property Taxes
Presented by
1004 N Boomer Rd
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