401 Cherokee Ave, Nowata, OK 74048
9,180 SF | Retail Building | Nowata, OK 74048 | $1,171,281 ($128/SF) | 7.65% Cap Rate
For Sale
Active
Asking Price $1,171,281
- Property Type
-
Retail
- Square Feet
- 9,180 SF
- Price / Square Foot
- $128
Listing Contacts
- Property Info
Property Overview
The Boulder Group is pleased to exclusively market for sale a single tenant net leased Family Dollar property positioned located in Nowata, Oklahoma. Family Dollar has been successfully operating at this location since 2007. Family Dollar has extended this lease multiple times over their tenancy. Most recently, in June of 2024, extended the lease through December 2033. There are two 5-year renewal options remaining with 10% rental escalations in each. The lease also features a corporate guaranty. This is a strong performing location as evidenced by the lease extension and the store also reports strong sales figures (inquire with broker). Store sales have increased year-over-year for the past five years. The parking lot was re-surfaced in the summer of 2024 to superior condition.
The 9,180 square-foot building benefits from its position along East Cherokee Avenue. There are several nearby tenants that draw traffic to the immediate area including Homeland Grocery, Bomgaars Supply, Ascension Healthcare, Sonic Drive-In, and several others. There is limited competition in the area for Family Dollar with only one competing store found within a 16-mile radius. Furthermore, the surrounding areas demographics are ideal for Dollar Tree or Family Dollar locations. The average household income within a ten-mile radius is $67,103. The subject asset is also located less than one hour north of Tulsa, Oklahoma.
Family Dollar is a leading discount retail chain in the United States, operating over 8,000 stores across 46 states. Known for its commitment to providing customers with a wide range of essential products at affordable prices, Family Dollar offers a diverse inventory including groceries, household items, apparel, and seasonal merchandise. The company’s strategic focus on serving low-to-moderate-income communities ensures a steady and loyal customer base. Family Dollar’s efficient supply chain management and extensive store network contribute to its robust financial performance, making it a reliable tenant and a valuable asset for investors seeking stable returns in the retail sector.
The 9,180 square-foot building benefits from its position along East Cherokee Avenue. There are several nearby tenants that draw traffic to the immediate area including Homeland Grocery, Bomgaars Supply, Ascension Healthcare, Sonic Drive-In, and several others. There is limited competition in the area for Family Dollar with only one competing store found within a 16-mile radius. Furthermore, the surrounding areas demographics are ideal for Dollar Tree or Family Dollar locations. The average household income within a ten-mile radius is $67,103. The subject asset is also located less than one hour north of Tulsa, Oklahoma.
Family Dollar is a leading discount retail chain in the United States, operating over 8,000 stores across 46 states. Known for its commitment to providing customers with a wide range of essential products at affordable prices, Family Dollar offers a diverse inventory including groceries, household items, apparel, and seasonal merchandise. The company’s strategic focus on serving low-to-moderate-income communities ensures a steady and loyal customer base. Family Dollar’s efficient supply chain management and extensive store network contribute to its robust financial performance, making it a reliable tenant and a valuable asset for investors seeking stable returns in the retail sector.
Property Details
- Class
- C
- Year Built
- 2006
- Stories
- 1
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 30,056 SF
Highlights
- Wholly owned subsidiary of Dollar Tree (Standard & Poor’s: BBB)
- Newly re-surfaced parking lot to superior condition (Summer 2024)
- Recent extension (Signed June 2024) through December 2033 demonstrates commitment
- Strong store sales have increased year-over-year for the past five years
- Nearby tenants include Homeland Grocery, Bomgaars Supply, Ascension Healthcare, Sonic Drive-In, and several others
- Less than one hour north of Tulsa, Oklahoma
Nearby Properties
Similar Properties
FAQ
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- What is the difference between Tier 1 & Tier 2 in the Due Diligence Vault?
- Documents that are placed in a Tier-1 Due Diligence vault require the execution of a Confidentiality Agreement (“CA”) for access. Documents and folders placed in the Tier-2 vault are intended to have an added layer of security and require the execution of a CA in addition to required Broker approval for access.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].