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10732 S Memorial Dr 4,062 SF Retail Building Tulsa, OK 74133 $2,880,000 ($709.01/SF) 6.25% Cap Rate
INVESTMENT HIGHLIGHTS
- Surrounded by massive grocery tenants (use logos here: Costco, Walmart SC, Reasons, Target, ALDI, Sprouts)
- Zero Landlord Responsibilities
- Corporately backed for 5 years from closing date
- Along the primary North / South thoroughfare — S Memorial Drive
- Local Franchisee personal guaranteed Lease
EXECUTIVE SUMMARY
The site is a high-profile investment opportunity situated on South Memorial Drive, the primary thoroughfare in the Tulsa, OK trade area. The Tacos 4 Life is surrounded by new development and massive restaurants and retailers including Walmart SuperCenter, Costco, Sprouts, Reasons, Life Time Fitness, Lowe’s, Panera, Dutch Bros Coffee, Starbucks, Chick-Fil-A, Tropical Smoothie, and many more. Tacos 4 Life has 7 years of initial term remaining on the NNN lease. The lease has 10% increases for years 6-10 of the initial term of the lease, as well as, 10% increases at each option. This lease is guaranteed by Tacos 4 Life corporate for a period of 5 years from closing, as well as personally by the local franchisee.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
4,062 SF
Building Class
B
Year Built
2019
Price
$2,880,000
Price Per SF
$709.01
Cap Rate
6.25%
NOI
$180,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
0.90 AC
Zoning
CS - SHOPPING CENTER DISTRICT
Parking
40 Spaces (10.12 Spaces per 1,000 SF Leased)
Frontage
153’ on South Memorial Drive
AMENITIES
- 24 Hour Access
- Dedicated Turn Lane
- Property Manager on Site
- Restaurant
- Security System
- Signage
- Drive Thru
- Storage Space
- Recessed Lighting
- Monument Signage
- Air Conditioning
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Accommodation and Food Services
- 3,952 SF
- $45.55
- Triple Net
- Oct 2032
"Hunger is the worlds most solvable problem." Tacos 4 Life exists to serve AMAZING FOOD to their communities, empowering YOU to join them in the fight to END WORLD HUNGER through their Meal4Meal program! All meals that you raise go straight to their partner, Feed My Starving Children, who then distributes those meals to over 70 countries around the world. This mission is what drive us as individuals and as a company to serve their guests and team members with excellence. They invite YOU to be a part of ending world hunger!
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Accommodation and Food Services | 3,952 SF | $45.55 | Triple Net | Oct 2032 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 60983-83-26-61910 | Improvements Assessment | $108,664 |
| Land Assessment | $88,202 | Total Assessment | $196,866 |
PROPERTY TAXES
Parcel Number
60983-83-26-61910
Land Assessment
$88,202
Improvements Assessment
$108,664
Total Assessment
$196,866
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10732 S Memorial Dr
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