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IHOP 4125 W Owen K Garriott Rd 4,081 SF 11% Leased Retail Building Enid, OK 73703 $1,455,000 ($356.53/SF) 8% Cap Rate
Investment Highlights
- Absolute NNN lease with zero landlord responsibilities and 1% annual rent increases.
- Attractive 8.00% cap rate and stable NOI of $116,400 annually.
- Surrounded by national retailers including Walmart, Lowe’s, and Walgreens.
- Recently extended 10-year lease with ±11.5 years remaining on base term.
- Located on a 1.08-acre lot along Enid’s main retail corridor with 21,000+ VPD.
Executive Summary
Kyle Matthews
Matthews Real Estate Investment Services, Inc
License # 180759, 180760 (OK)
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Matthews Real Estate Investment Services, Inc
License # 180759, 180760 (OK)
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
4,081 SF
Building Class
B
Year Built
1984
Price
$1,455,000
Price Per SF
$356.53
Cap Rate
8%
NOI
$116,400
Percent Leased
11%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.09
Lot Size
1.08 AC
Parking
2,724 Spaces (10 Spaces per 1,000 SF Leased)
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $172,672 | |
| Land Assessment | $441,670 | Total Assessment | $614,342 |
Property Taxes
Parcel Numbers
Land Assessment
$441,670
Improvements Assessment
$172,672
Total Assessment
$614,342
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IHOP | 4125 W Owen K Garriott Rd
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