14307 NE 23rd St - Restaurant FOR SALE


Choctaw, OK 73020- Outer Midwest City
$1,960,000 USD
310-231-5201
14307 NE 23rd St, Choctaw, OK for Sale
$1,960,000 USD
Restaurant - FOR SALE
1/11
null | 5.5% Cap Rate

14307 NE 23rd St
Choctaw, OK 73020
Outer Midwest City


HIGHLIGHTS

  • Single-tenant retail pad building occupied by Starbucks Corporation on a corporate guaranteed lease
  • NNN lease agreement – Tenant pays its pro-rata share of CAM, real estate taxes and insurance
  • 10-Year initial lease term
  • Current Base Rent (Years 6–10): $107,800 per year ($51.60/SF on 2,089 SF)
  • Prior Rent Step (Years 1–5): $98,000 per year
  • Four (4) five-year options with fixed increases in each option period Approximately 5 years on the initial 10-year term (Years 6–10) at current rent

OVERVIEW

Starbucks’ modern prototype, featuring a dedicated drive-thru lane, patio seating area, 22 striped surface parking spaces, an on-site trash enclosure, and both monument and pylon signage along NE 23rd Street. The well located, high visibility pad site benefits from shared access and joint parking rights within The Markets at Choctaw, a Walmart-anchored regional shopping center at the signalized intersection of NE 23rd Street & Market Boulevard. Situated east of downtown Oklahoma City, within the growing Choctaw submarket. The site draws from residential communities in Choctaw, Harrah and eastern Oklahoma County, as well as commuters traveling along Highway 62. Surrounding retailers include Walmart Supercenter, national fast-food and QSR brands, grocery, fuel, and daily-needs retail, creating a strong regional draw. Starbucks benefits from both destination traffic to the center and drive-by trips along NE 23rd Street.

FOR SALE DETAILS

PRICE

$1,960,000 USD

PRICE/SF

$938 USD /SF

CAP RATE

5.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Starbucks

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2020

SPRINKLERS

-

PARKING SPACES

46

LAND DETAILS

LAND ACRES

0.65 AC

LAND SF

28,314 SF

ZONING

COMMER0001

APN/PARCEL ID

214581005

ASK ABOUT THIS PROPERTY

Rick RiveraCBM1 IncMore Info
310-231-5201

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Rick RiveraCBM1 IncMore Info
310-231-5201

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