Address: 908 East Trudgeon Street, Henryetta, Oklahoma, United States 74437
Cap Rate: 5.50%
Lease Type: Triple-Net (NNN)
Annual Rent: $90,000
Net Operating Income: $90,000
Lease Term Remaining: 20
Rental Increases: 1.50% Annually Starting Year 6
Options: 1.50% Annually Starting Year 6
Year Built: 2019
Rentable Sq/Ft: 2,866 SF
Rent Sq/Ft: $31.4
Price Sq/Ft: $571
Lot Size: +/-2.00 Acres
The subject Burger King benefits from being well-positioned in an urban infill consisting of national and local tenants, shopping centers, and schools within close proximity to this property. Major national tenants in the immediate area include Walmart, McDonald’s, Taco Bell, Arby’s, Subway, KFC, Taco Bueno, Sonic Drive-in, O’Reilly Auto Parts, Henryetta Ford Dealership, and Days Inn among various others. The subject property benefits from its close proximity to several schools. Most notable is the Henryetta High School, which is home to more than 400 students and is located within three miles of this Property. QuikTrip is working with the city of Henryetta on the easements and utility lines for a new QuikTrip store on the parcel located directly south of the Burger King.
The property is located on U.S. highway 75, which experiences an average daily traffic counts of more than 16,500 vehicles. U.S. Highway 75 is the main thoroughfare for drivers traveling from Dallas, TX to Tulsa, Oklahoma’s second largest city. Just south of the subject property, U.S. Highway 75 intersects with Interstate-40. Interstate-40 is main artery of travelers heading east from Oklahoma City towards Fort Smith, Arkansas. Interstate-40 experiences average traffic counts of more than 18,500 vehicles per day.
Henryetta is a town in mid Eastern Oklahoma. The town sits on the junction of Interstate-40 and U.S. Highway 62. This strategic positions provides residents a small-town feel while still allowing for easy access to Tulsa and Oklahoma City. Additionally, this location provides a good stop for travelers driving south from Tulsa toward Dallas, Texas. The economy of Henryetta employs over 1,500 people. The largest industries in Henryetta are Retail Trade, Health Care & Social Assistance, as well as Manufacturing. The highest paying industries are Professional, Scientific, Technical Services, and Real Estate. Henryetta is located 90 miles from Oklahoma City and only 50 miles from Tulsa. Tulsa is the second-largest city in the state of Oklahoma and 45th-most populous city in the United States. It is the principal municipality of the Tulsa Metropolitan Area, a region with 981,005 residents in the MSA and 1,151,172 in the CSA. There are 30 companies in Tulsa that employ more than 1,000 people locally, and small businesses make up more than 80% of the city’s companies. Though the oil industry has historically dominated Tulsa’s economy, efforts in economic diversification have created a base in the sectors of aerospace, finance, technology, telecommunications, high tech, and manufacturing.
Mark McCoy #License: 10311205789