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11104 E 21st St 2,644 SF Retail Building Tulsa, OK 74129 $1,160,000 ($438.73/SF) 5.92% Cap Rate
INVESTMENT HIGHLIGHTS
- Dense Infill Tulsa Location – 16K+ Ppl in 1-Mile Radius
- Eight Plus Yrs., Two, Five-Yr. Options and Three Seven and a Half Percent Increased Remaining in the Lease
- Resilient Rent Level in Neighborhood Demand Driven Area
- Strong Operator and Holdco Guarantee – MBN Brands - 200+ Unit Operator – Financials Available in Escrow
- High Traffic Area – 45K CPD at Subject Intersection
- Brand Momentum – KFC Resurgence Being Led by Newly Appointed US President Catherine Tan-Gillespie
EXECUTIVE SUMMARY
The subject property offers the opportunity for an investor to purchase to purchase this fee simple absolute NNN KFC investment property. KFC has operated in 2,644 SF on half of an acre since the property was constructed in 1995. The building has been well taken care of with multiple remodel’s and has been updated to the latest prototype. The operator has grown substantially since taking over in 2021 and is poised to continue that growth with reinvigorated franchisor support.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
2,644 SF
Building Class
B
Year Built/Renovated
1995/2021
Price
$1,160,000
Price Per SF
$438.73
Cap Rate
5.92%
NOI
$68,615
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
0.50 AC
Zoning
CS
Parking
30 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
189’ on 21st St
AMENITIES
- Dedicated Turn Lane
- Pylon Sign
- Signage
- Drive Thru
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Accommodation and Food Services
- 2,644 SF
- $25.95
- Triple Net
- -
KFC, a subsidiary of Yum! Brands, Inc. (NYSE: YUM.), is a global chicken restaurant brand with a rich, decades-long history of success and innovation. It all started with one cook, Colonel Harland Sanders, who created a finger lickin’ good recipe decades years ago, a list of secret herbs and spices scratched out on the back of the door to his kitchen. Today they still follow his formula for success, with real cooks breading and freshly preparing their delicious chicken by hand in tens of thousands of restaurants around the world.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Accommodation and Food Services | 2,644 SF | $25.95 | Triple Net | - |
Walk Score®
Very Walkable (71)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 15725-94-18-32020 | Improvements Assessment | $60,651 |
| Land Assessment | $7,320 | Total Assessment | $67,971 |
PROPERTY TAXES
Parcel Number
15725-94-18-32020
Land Assessment
$7,320
Improvements Assessment
$60,651
Total Assessment
$67,971
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11104 E 21st St
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