Carl’s Jr. Drive-Through
For Sale
$1,915,000
841 SW 89th St, Oklahoma City, OK 73139
Freestanding restaurant asset identified with the Carl’s Jr. brand in Oklahoma City.
Property Size2,536 SF
Price / SF$755.13
Days on Market11
Property Features for 841 SW 89th St
General Information
Standard status
Active
Size
2,536 SF
Property subtype
Restaurant
Lease Type
Absolute Net
Amenities
12 Years Remaining on Absolute Triple-Net (NNN) Lease with Multi-Unit Franchisee (19 Carl's Jr. Locations)
Upcoming Rent Increase on August 1, 2028
Densely-Populated Trade Area in Oklahoma City - 219,342 Residents within Five Miles
Signalized Hard Corner Location, Easily Accessible by Approximately 36,000 Cars per Day at the Intersection of SW 89th Street and South Western Avenue
Easy Freeway Access, One Mile South of Interstate 240 and Two Miles East/West of Interstates 44 and 35
Surrounded by National Tenants: Dunkin', Planet Fitness, Arby's, Dollar General, and More
Daytime Population Exceeds 15,000 People within One Mile of the Subject Property
Central Location Near Downtown Oklahoma City within an Approximate 20-Minute Drive of Will Rogers International Airport, Tinker Air Force Base, and The University of Oklahoma
Building Details
Building Size
2,536 SF
Listing Agency:
Marcus & Millichap | Phoenix
(602) 687-6836
Listed By:
Spencer Berkley · License #License(s): AZ: SA703812000
(602) 687-6836
Source:
Marcusmillichap
Added: Aug 12
Changed: Aug 17
Last Checked: Aug 22 at 3:42AM
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 Carl’s Jr. property is identified as a drive-through restaurant at 841 SW 89th St in Oklahoma City, Oklahoma. The asset is associated with the Carl’s Jr. brand and is classified for drive-through restaurant use.
The property is located in Oklahoma City’s 73139 ZIP code. The recorded property size is 2,536, with the source data not specifying the measurement unit.
The property is located in Oklahoma City’s 73139 ZIP code. The recorded property size is 2,536, with the source data not specifying the measurement unit.
Key Highlights
- Carl’s Jr. branded drive‑through restaurant
- Located at 841 SW 89th St, Oklahoma City, OK 73139
- Recorded property size of 2,536
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
$60,712
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%
$1,214,240
$1.2M
Cap Rate 7%
$867,314
$867.3K
Cap Rate 9%
$674,578
$674.6K
Market Conditions
NOI Build-Up for 2,536 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
$85.2K $33.60/SF
− Vacancy
−$4.3K −$1.68/SF
EGI
$80.9K $31.92/SF
− OpEx
−$20.2K −$7.98/SF
NOI
$60.7K $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%
$1,214,240
Cap Rate 7%
$867,314
Cap Rate 9%
$674,578
Alternative Uses
Best Use
Specialty Retail
$867.3K
$758.9K – $1.01M
NOI $60,712 @ 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
716
Businesses Nearby
122k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 44%
Dining 43%
Apparel 13%
Bank of America
Shops & Services
14,040 visits/mo
0.1 miles
Goodwill
Apparel
12,690 visits/mo
0.1 miles
Dunkin' Donuts
Dining
11,891 visits/mo
0.0 miles
7-Eleven
Shops & Services
11,603 visits/mo
0.4 miles
Freddy's Frozen Custard & Steakburgers
Dining
10,775 visits/mo
0.0 miles
Demographics for 73139, OK
18,781
Population
8,790
Households
2.1
Avg Household Size
35
Median Age
15%
College-Educated
79%
High-School Grad
4.4 sq mi
ZIP Area
4,268
Density / Sq Mi
$47,424
Median Household Income
$34,557
Median Earnings
$946
Median Rent
$164,100
Median Home Value
Market
Vacancy Rate% for Retail in Oklahoma City, OK
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Freestanding restaurant asset identified with the Carl’s Jr. brand in Oklahoma City.
Where is this drive through restaurant located?
The property is located at 841 SW 89th St Oklahoma City, OK.
What is the asking price?
The asking price for this property is $1,915,000.
What are key features of this property?
This property features: Carl’s Jr. branded drive‑through restaurant; Located at 841 SW 89th St, Oklahoma City, OK 73139; Recorded property size of 2,536
