310 Perkins Rd Stillwater, OK 74075-5513

Property Details for 310 Perkins Rd

Year built

1993

Lot size

1.00 lot acres

Property size

3,899 SF

Property type

Turn key restaurants

APN

600000289

APU

600000289

Description

This exceptional investment opportunity presents a brand-new, 3,899 square foot Popeyes restaurant located at 310 N Perkins Rd, Stillwater, OK 74075. Built in 2024, this single-tenant property sits on a 1.19-acre lot and boasts a 25-year absolute triple-net (NNN) lease with a corporate guarantee, offering zero landlord responsibilities. The lease includes 7.5% rent bumps every five years, ensuring consistent income growth. The property enjoys a prime location less than a mile from Oklahoma State University (33,500+ students and 5,500 employees), benefiting from high daily traffic exceeding 19,000 vehicles on North Perkins Road. Its proximity to East Hall of Fame Avenue provides direct access to Boone Pickens Stadium (53,855 capacity). The surrounding area features major retailers like Walmart, Hobby Lobby, Big Lots, TJ Maxx, Raising Cane's, Chick-fil-A, and Chipotle. Furthermore, Stillwater High School and Stillwater Junior High School (combined 2,150+ students) are within a 1.5-mile radius. The property's current Net Operating Income (NOI) is $160,000, resulting in a 5.75% cap rate. The asking price is $2,782,000 ($713.52/sq ft). This is a fee-simple ownership with four, five-year lease options. The property offers a secure, long-term investment with significant upside potential.

Location Insight

City

Stillwater

County

Payne

State

Oklahoma

Longitude

-97.0522

Latitude

36.1259

CBSA code

44660

CBSA name

STILLWATER, OK MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments