601 Ok-19, Alex, OK 73002

Property Details for 601 Ok-19

Year built

1985

Property type

Retail properties & Spaces

Property subtype

Retail space

Description

This exceptional investment opportunity presents a 3,214 square foot Monfort Gas Station located at 601 OK-19 in Alex, Oklahoma. The property boasts a 13.1-year remaining lease term (expiring 12/31/2037), commencing December 15, 2022, with an absolute triple-net (NNN) structure, eliminating all landlord responsibilities. The lease includes a corporate guarantee from Monfort Companies, a significant 7-Eleven franchisee with diverse holdings. Rent increases of 10% every five years are built into the lease, along with four five-year renewal options, ensuring consistent income growth. The convenience store, situated on a 0.22-acre lot, features 6 parking spaces and a drive-thru, catering to high customer volume. With a current NOI of $157,469 and a 7.00% cap rate, this property offers a strong return on investment. The location benefits from high traffic counts on Oklahoma State Highway 19 (over 4,500 vehicles daily) and proximity to Alex's schools and Oklahoma City (less than an hour away). Built in 1985, the property provides accelerated depreciation benefits. This is a secure, high-yield investment with a proven track record and a financially strong tenant committed to long-term occupancy. The asking price is $2,249,557, translating to $699.92 per square foot.

Location Insight

City

Alex

County

Muskogee

State

Oklahoma

Longitude

-97.7843

Latitude

34.9123