Current Use by Public Records
- Starbucks / Cafe & Coffee Shop
Property Details for 2015 Main St
- Year built
- 2024
- Lot size
- 0.99 lot acres
- Property type
- Retail properties & Spaces
Description
Offered is a 2,225 sq ft Starbucks in Durant, Oklahoma, built in 2024 and boasting a new 10-year net lease with a corporate guarantee from Starbucks (NASDAQ: SBUX). The property, situated on a 0.99-acre lot at a signalized intersection on West Main Street (17,083 vehicles per day), enjoys exceptional visibility and convenient access to Interstate 75 (28,500 vehicles per day). The lease commenced April 20, 2023, and expires August 18, 2033, with a remaining term of 8.7 years. Rent increases are built in, with an 8.5% bump in year six and subsequent 7.5% increases every five years thereafter. The property features a rare self-maintaining clause, minimizing landlord responsibilities. This presents a compelling investment opportunity, further enhanced by its proximity to the Choctaw Casino (approximately 1.2 million annual visitors) and location within a high-growth corridor projected to see an 88% increase in US 69/75 traffic by 2045. The property's strong tenant, favorable lease terms, and strategic location combine to offer a stable, high-return investment. The asking price is $2,524,000, representing a 6.30% cap rate and a price per square foot of $1,134.38. The annual net operating income (NOI) is $159,000. The lease includes six, five-year renewal options. This is a single-tenant, freestanding building with 100% occupancy. Durant, Oklahoma is also part of the Dallas-Fort Worth Combined Statistical Area.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Durant
- County
- Bryan
- State
- Oklahoma
- Longitude
- -96.4007
- Latitude
- 33.9969
