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418 Main St 3,666 SF Retail Building Jenks, OK 74037 $2,700,000 ($736.50/SF) 6.85% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute Net Lease Single Tenant Investment with a full 20 years on the lease term.
- Growing submarket in Tulsa, OK
- Experienced Franchisee with 16 locations
EXECUTIVE SUMMARY
New 20-year absolute net lease with Slim Chickens located in Jenks (suburb of Tulsa). Rent increases of 10% annually. The restaurant opened in October and a new lease will be executed at the Close of Escrow. The franchisee was named Franchisee of the Year in 2022 and this will be the operators 16th Slim Chickens location. Jenks is experiencing enormous economic growth ($800MM+) with the recent opening of the Tulsa Premium Outlet Mall and new downtown revitalization. For more information, please review the Offering Memorandum.
DATA ROOM Click Here to Access
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
PROPERTY FACTS
Sale Type
Investment
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
3,666 SF
Building Class
B
Year Built/Renovated
2023/2025
Price
$2,700,000
Price Per SF
$736.50
Cap Rate
6.85%
NOI
$184,950
Tenancy
Single
Building Height
2 Stories
Building FAR
0.18
Lot Size
0.48 AC
Zoning
Commercial
Parking
31 Spaces (8.46 Spaces per 1,000 SF Leased)
Frontage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 60525-83-19-04200 | Improvements Assessment | $85,294 |
| Land Assessment | $23,375 | Total Assessment | $108,669 |
PROPERTY TAXES
Parcel Number
60525-83-19-04200
Land Assessment
$23,375
Improvements Assessment
$85,294
Total Assessment
$108,669
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418 Main St
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