New Retail Store For
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500 S Main St, Fairfax, OK
New construction retail property with long-term corporate lease.
Property Size10,500 SF
Lot Size0.96 Acres
Price / SF$140.48
Days on Market857
Property Features for 500 S Main St
General Information
Standard status
Active
Size
10,500 SF
Lot size
0.96 Acres
Property subtype
RETAIL
Listing Agency:
Marcus & Millichap | Phoenix
(602) 770-2935
Listed By:
Mark Ruble · License #SA550593000
(602) 770-2935
Source:
Moodyscre
Added: Apr 2, 2024
Changed: Jul 6
Last Checked: Jul 21 at 7:05AM
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 Marcus & Millichap | Phoenix
Investment Insights
Based on property information with market context.
This retail property features a brand new, high-quality construction completed in 2024. It is currently under a 10-year corporate lease with a Family Dollar and Dollar Tree combo store. The lease includes rental increases during each renewal option period. The property benefits from a 20-year roof warranty. Situated along Main Street, the primary thoroughfare in Fairfax, Oklahoma, the location has limited competition, being one of only two discount/dollar stores within a 20-mile radius. Family Dollar/Dollar Tree combo stores average 20 percent more in sales than traditional Family Dollar locations. The property is within a 20-mile radius of 14,043 residents with an average household income exceeding $62,000. The property size is 10,500 square feet.
Key Highlights
- Brand new 10‑year corporate lease with Family Dollar and Dollar Tree combo store.
- Limited competition - one of two discount/dollar stores within a 20‑mile radius.
- Family Dollar / Dollar Tree combo stores average 20 percent more in sales.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $199.1k | $18.96 |
| − Vacancy | −$5.2k | −$0.49 |
| EGI | $193.9k | $18.47 |
| − OpEx | −$58.2k | −$5.54 |
| NOI | $135.7k | $12.93 |
10,500 SF · lease $18.96/SF/yr · vacancy 2.60% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$2.14M
$1.88M – $2.50M
NOI $150,037 @ 7.0% cap · market cap 10.17%
Second Best
Retail
$1.94M
$1.70M – $2.26M
NOI $135,733 @ 7.0% cap · market cap 9.20%
Theoretical Best
Office A
$2.58M
$2.26M – $3.01M
NOI $180,744 @ 7.0% cap · market cap 12.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
82
Businesses Nearby
4k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Phillips 66
Shops & Services
4,285 visits/mo
0.4 miles
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - New construction retail property with long-term corporate lease.
Where is this grocery and convenience store located?
The property is located at 500 S Main St Fairfax, OK.
What is the asking price?
The asking price for this property is $1,475,000.
What are key features of this property?
This property features: Brand new 10‑year corporate lease with Family Dollar and Dollar Tree combo store.; Limited competition - one of two discount/dollar stores within a 20‑mile radius.; Family Dollar / Dollar Tree combo stores average 20 percent more in sales.
