2124 23Rd St, Oklahoma City, OK 73107

704 SF | Retail Building | Oklahoma City, OK 73107 | $1,075,000 ($1,527/SF) | 5.50% Cap Rate

Asking Price $1,075,000

Property Type: Retail
Square Feet: 704 SF
Price / Square Foot: $1,527

Listing Contacts

Chynne Le

Verified Profile

Property Info

Property Overview

Ace Group Reality, on behalf of the Owner, is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a Ground NNN lease, drive-thru equipped, Swig Drinks in Oklahoma City. The lease features a 10%rental increase every 5 years throughout the initial term and at the beginning of each option period. Tenant maintains the property. Great opportunity for an absentee investor to sit back and collect. Swig Drinks is located in a high traffic area in Oklahoma City with 48,000 Average Daily Traffic Count, surrounded by
many national retail brands including Dutch Brothers Coffee, Salad and Go, McDonalds and many others.

Property Details

Class: C
Year Built: 2001
Stories: 1
Property Subtype: Storefront, Grocery/Convenience Store, Freestanding
Lot Size (sq. ft): 27,443 SF

Highlights

Swig Drinks recently signed a new Ground NNN lease with 10 years remaining and 10% annual rent escalations, with (2)5 Year options to extend.
High-performing intersection with excellent visibility that boasts a drive-thru.
Lighted Parking Lot with large visible sign along a high-traffic street.
Strategically located at the major intersection of Pennsylvania and NW 23rd Street with over 48000 Cars Per Day.
The 5-mile trade area is supported by more than 221,000 residents and 239,000 daytime employees with an affluent average household income of $72,231

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