Listing Agency: Commercial Investment Advisors (CIA) - Corporate Show Phone

Listed By: Justin Zahn Show Phone

Source: Moodyscre

Added: Jun 2, 2025 Changed: Aug 8 Last Checked: May 19 at 10:57PM

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Investment Insights

Based on property information with market context.

This property features a brand new, build-to-suit construction for Dollar Tree's latest prototype, encompassing 10,000 square feet. The store opened in August 2024. It is subject to a brand new 10-year NN* lease with rental escalations of $0.50 per square foot every 5 years in the renewal options. According to 2023 demographics, the total population within a 5-mile radius is 147,925, and the average household income within a 1-mile radius is $110,259. The property size is 10,500 square feet.

Key Highlights

• Brand New 10‑year NN* Lease with rental escalations every 5 years.
• Brand new, build‑to‑suit construction (opened August 2024).
• Dollar Tree's latest prototype spanning 10,000 SF.

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

$101,395

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

5.48%

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%

$2,027,900 $2.0M

Cap Rate 7%

$1,448,500 $1.4M

Cap Rate 9%

$1,126,611 $1.1M

Market Conditions

NOI Build-Up for 10,500 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

$151.2K $14.40/SF

− Vacancy

−$6.4K −$0.60/SF

EGI

$144.8K $13.80/SF

− OpEx

−$43.5K −$4.14/SF

NOI

$101.4K $9.66/SF

Area

Canadian County, OK

Vacancy

4.20%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

30.00%

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%

$2,027,900

Cap Rate 7%

$1,448,500

Cap Rate 9%

$1,126,611

Alternative Uses

Best Use

Retail

$1.45M

$1.27M – $1.69M (±1% cap)

NOI $101,395 @ 7.0% cap · market cap 5.48%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.29M

$2.00M – $2.67M (±1% cap)

NOI $160,039 @ 7.0% cap · market cap 8.65%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Storefront properties

Suggested Use

Top Pick Auto Repair Shop Law Firm Auto Parts Store Building Supply Grocery & Convenience Store Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

64

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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Similar Off Market Nearby

• Country Elegance LLC1 — 1014 Pierce Ave NW, Piedmont, OK 73078
• Piedmont Dry Cleaners & Florist — 104 Piedmont Rd N, Piedmont, OK 73078

Frequently Asked Questions

What type of property is this?

Storefront property - New 10-year NN lease with rental escalations.

Where is this storefront property located?

The property is located at 701 Piedmont Rd N Piedmont, OK.

What is the asking price?

The asking price for this property is $1,851,000.

What are key features of this property?

This property features: Brand New 10‑year NN* Lease with rental escalations every 5 years.; Brand new, build‑to‑suit construction (opened August 2024).; Dollar Tree's latest prototype spanning 10,000 SF.