1101 NW 24th Ave NW - Fast Food FOR SALE


Norman, OK 73069- Outer Norman
$1,375,000 USD
650-279-5790
1101 NW 24th Ave NW, Norman, OK for Sale
$1,375,000 USD
Fast Food - FOR SALE
1/7
null | 7.26% Cap Rate

1101 NW 24th Ave NW
Norman, OK 73069
Outer Norman


HIGHLIGHTS

  • Absolute NNN Lease
  • 10% fixed rent increase every 5 year option period
  • Tenant paying below market rent of $28.30/sq. ft.
  • Building equipped with a drive-thru lane
  • Abundant on-site parking

OVERVIEW

There are 5 years remaining on an absolute NNN lease with an experienced Carl's Jr. franchisee operating a reported 35 locations in Oklahoma and Texas. The rent reflects the 10% fixed rent increase that is scheduled to occur August 1, 2025 and every 5 year option period. Traffic is generated to this area from the nearby Max Westheimer Airport and the University Town Center which is a +/-2,000,000 sq. ft. regional lifestyle center anchored by Target, Academy Sports, Kohl's and Embassy Suites Hotel & Convention Center. This +/-3,527 sq. ft. restaurant is situated on two parcels totaling 1.07 acres providing abundant on-site parking. Norman, Oklahoma enjoys a city population of 128,000 residents and is a bedroom community to Oklahoma City. Norman is home to the University of Oklahoma which is situated less than 3.5 miles from the subject property.

FOR SALE DETAILS

PRICE

$1,375,000 USD

PRICE/SF

$390 USD /SF

CAP RATE

7.26%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1984

SPRINKLERS

-

PARKING SPACES

40

LAND DETAILS

LAND ACRES

0.87 AC

LAND SF

37,696 SF

ZONING

ZN C2

APN/PARCEL ID

R0048894

ASK ABOUT THIS PROPERTY

Steve SauterMarcus & MillichapMore Info
650-279-5790

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Steve SauterMarcus & MillichapMore Info
650-279-5790

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.