Burger King NNN
For Sale
Contact for pricing
2929 Southwest 29th Street, Oklahoma City, OK 73119
2016-built Burger King on a triple net lease that began 1/1/2011.
Property Size2,767 SF
Lot Size1.03 Acres
Price / SF$756.33
Days on Market33
Property Features for 2929 Southwest 29th Street
General Information
Standard status
Active
Size
2,767 SF
Lot size
1.03 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$125,566
Building Details
Year Built
2016
Tenancy
Single
Listing Agency:
SURMOUNT
(332) 345-4222
Listed By:
Daniel Price · License #10401300635
Source:
Crexi
Added: Jul 23
Changed: Aug 8
Last Checked: Aug 23 at 10:49AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SURMOUNT
Investment Insights
Based on property information with market context.
Burger King restaurant located at 2929 Southwest 29th Street offers a long-term Triple Net (NNN) lease structure. The site includes approximately 2,767 rentable square feet of building space on an estimated 1.03-acre parcel. The NNN lease term is 25 years and commenced 1/1/2011.
The lease provides scheduled annual rent increases of 1.75% each year. The property was built in 2016.
This offering is centered on the existing leased setup with a long-duration NNN contract, providing a straightforward tenant-occupied configuration for qualified buyers and operators.
The lease provides scheduled annual rent increases of 1.75% each year. The property was built in 2016.
This offering is centered on the existing leased setup with a long-duration NNN contract, providing a straightforward tenant-occupied configuration for qualified buyers and operators.
Key Highlights
- Approximately 2,767 rentable SF Burger King restaurant
- Estimated 1.03‑acre parcel
- 25‑year Triple Net (NNN) lease term
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$66,242
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.17%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,324,840
$1.3M
Cap Rate 7%
$946,314
$946.3K
Cap Rate 9%
$736,022
$736.0K
Market Conditions
NOI Build-Up for 2,767 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$93.0K $33.60/SF
− Vacancy
−$4.6K −$1.68/SF
EGI
$88.3K $31.92/SF
− OpEx
−$22.1K −$7.98/SF
NOI
$66.2K $23.94/SF
Area
Oklahoma City, OK
Vacancy
5.00%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,324,840
Cap Rate 7%
$946,314
Cap Rate 9%
$736,022
Alternative Uses
Best Use
Specialty Retail
$946.3K
$828.0K – $1.10M
NOI $66,242 @ 7.0% cap · market cap 3.17%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
163
Businesses Nearby
14k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
7-Eleven
Shops & Services
9,402 visits/mo
0.4 miles
Family Dollar
Shops & Services
5,059 visits/mo
0.4 miles
Demographics for 73119, OK
31,216
Population
12,008
Households
2.6
Avg Household Size
31
Median Age
6%
College-Educated
61%
High-School Grad
6.8 sq mi
ZIP Area
4,591
Density / Sq Mi
$42,936
Median Household Income
$29,529
Median Earnings
$923
Median Rent
$93,600
Median Home Value
Market
Vacancy Rate% for Retail in Oklahoma City, OK
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - 2016-built Burger King on a triple net lease that began 1/1/2011.
Where is this conventional restaurant located?
The property is located at 2929 Southwest 29th Street Oklahoma City, OK.
What is the asking price?
The asking price for this property is $2,092,768.
What are key features of this property?
This property features: Approximately 2,767 rentable SF Burger King restaurant; Estimated 1.03‑acre parcel; 25‑year Triple Net (NNN) lease term
