5661 Tinker Diagonal
Midwest City, OK 73110
Black Bear Diner | Midwest City, OK · Retail Property For Sale

The lease structure is triple net (NNN), with zero landlord responsibilities. Tenant is responsible for maintaining, repairing, and replacing all aspects of the property, as well as all required insurances, taxes, and utilities. The building is recently remodeled, and had a grand opening date of December 18, 2017. The lease brand new with ten (10) years on the lease term, plus three (3), five (5) year options. The lease provides for 10% rental increases every five (5) years. The lease is backed by Black Bear Diner’s corporate level credit (not franchisee credit), and the store is corporately operated. There are 137,180 residents located in the five (5) mile demographic ring, and this area is projected to experience growth of 1.11% over the next five (5) years. Black Bear Diner has strong visibility on Tinker Diagonal & S Sooner Rd., which report combined traffic counts of over 100,000 cars per day at this location. The subject property has excellent exposure and immediate access to I-40, being along one of the freeway’s on and off ramps and having full access to that road. The subject property is located directly adjacent to the Reed Conference Center, which contains 30,000 square feet of meeting space. Black Bear Diner is ideally located within a hotel corridor surrounded by 842 hotel rooms within a 1,000 foot radius. Surrounding hotels include the Sheraton, Holiday Inn, La Quinta Inn, Hampton Inn, Hawthorn Suites, to name a few. This implies a built-in customer base, as the hotels and Conference Center are within easy walking distance of the Diner. Black Bear Diner is surrounded by several popular retailers including The Home Depot, Walmart Supercenter, Carl’s Jr., GameStop and Buffalo Wild Wings, among others. The subject property is located just 1.2 miles (4 minutes) from Rose State College (13,000 students & 400 employees), and 5.2 miles (13 minutes) from Tinker Air Force Base (the largest single site employer in the state with over 26,000 employees).