Enid, OK IHOP
For Sale
Contact for pricing
Pending
4125 W Owen K Garriott Rd, Enid, OK 73703
NNN leased IHOP with long-term commitment and annual rent increases.
Property Size4,081 SF
Lot Size1.08 Acres
Days on Market175
Property Features for 4125 W Owen K Garriott Rd
General Information
Standard status
Pending
Size
4,081 SF
Lot size
1.08 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Building Details
Year Built
2001
Buildings
1
Tenancy
Single
Listing Agency:
Matthews
Listed By:
Nathan Roberto · License #TN 36870.
Source:
Crexi
Added: Feb 18
Changed: Aug 8
Last Checked: Aug 8 at 2:44PM
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 Matthews
Investment Insights
Based on property information with market context.
The property is a single-tenant net leased IHOP located at 4125 W Owen K Garriott Rd in Enid, OK. It is situated along the main retail corridor in Enid, OK, which sees over 21,000 vehicles per day. The property benefits from a long-term absolute NNN lease structure with zero landlord responsibilities, predictable cash flow, and scheduled annual rent increases. The property is situated on a 1.08-acre lot. The 4,081 SF property was recently extended for 10 additional years and has approximately 11.5 years remaining on the base term of the lease, demonstrating the tenant’s long-term commitment to this location. The property is available to be purchased well below replacement cost at approximately $356 per square foot.
Key Highlights
- Absolute NNN lease structure with zero landlord responsibilities.
- Enjoy long‑term tenant commitment with ±11.5 years remaining on the base term of the lease.
- Attractive 8.00% cap rate.
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
$42,224
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
3.12%
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%
$844,480
$844.5K
Cap Rate 7%
$603,200
$603.2K
Cap Rate 9%
$469,156
$469.2K
Market Conditions
NOI Build-Up for 4,081 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
$58.8K $14.40/SF
− Vacancy
−$2.5K −$0.60/SF
EGI
$56.3K $13.80/SF
− OpEx
−$14.1K −$3.45/SF
NOI
$42.2K $10.35/SF
Area
Garfield County, OK
Vacancy
4.20%
Lease Rate
$14.40 /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%
$844,480
Cap Rate 7%
$603,200
Cap Rate 9%
$469,156
Alternative Uses
Best Use
Specialty Retail
$603.2K
$527.8K – $703.7K
NOI $42,224 @ 7.0% cap · market cap 3.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.12M
$983.4K – $1.31M
NOI $78,673 @ 7.0% cap · market cap 5.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,155
Businesses Nearby
161k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 90%
Shops & Services 10%
Braum's Ice Cream & Dairy Stores
Dining
28,046 visits/mo
0.4 miles
McDonald's
Dining
25,792 visits/mo
0.3 miles
Taco Bell
Dining
19,962 visits/mo
0.2 miles
Freddy's Frozen Custard & Steakburgers
Dining
14,188 visits/mo
0.2 miles
McAlister's Deli
Dining
13,888 visits/mo
0.4 miles
Demographics for 73703, OK
30,376
Population
13,610
Households
2.2
Avg Household Size
38
Median Age
31%
College-Educated
93%
High-School Grad
114.1 sq mi
ZIP Area
266
Density / Sq Mi
$74,202
Median Household Income
$41,860
Median Earnings
$1,039
Median Rent
$191,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Boomarang Diner Enid/Oakwood — 721 S Oakwood Rd, Enid, OK 73703
Frequently Asked Questions
What type of property is this?
Breakfast & diner - NNN leased IHOP with long-term commitment and annual rent increases.
Where is this breakfast & diner located?
The property is located at 4125 W Owen K Garriott Rd Enid, OK.
What is the asking price?
The asking price for this property is $1,355,000.
What are key features of this property?
This property features: Absolute NNN lease structure with zero landlord responsibilities.; Enjoy long‑term tenant commitment with ±11.5 years remaining on the base term of the lease.; Attractive 8.00% cap rate.
