733 Petree Rd Anadarko, OK 73005

Property Details for 733 Petree Rd

Year built

1975

Lot size

0.94 lot acres

Property size

4,000 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This 4,000 square foot retail property in Anadarko, Oklahoma, presents a compelling value-add investment opportunity. Located at 733 W Petree Rd, 73005, this fee-simple, single-story building sits on a 0.94-acre lot and boasts 100% occupancy with three tenants: Subway, Caddo Ammo, and Beyond Nutrition. The property features a brand-new foam roof (2023) with a 10-year leak guarantee and ample parking (38 spaces). Currently generating a 9.00% cap rate and $24,117 in NOI, this property offers significant upside potential. The weighted average lease term exceeds 5 years, providing stable long-term income. Subway, a long-term tenant (since 10/25/1990), has one remaining 5-year renewal option with a 5% rent increase. Caddo Ammo's lease, initiated in July 2023, commands a higher rate ($10.59/SF) compared to Subway ($7.41/SF) and Beyond Nutrition ($5.65/SF), highlighting the potential for rental adjustments to market rates. The property benefits from its prime location adjacent to Petree Plaza, Anadarko's main shopping center, and near other prominent businesses including McDonald's, Dollar Tree, and MidFirst Bank. The asking price is $267,967 ($66.99/SF). Lease details and rent bump information are available in the offering memorandum. This NNN-leased property minimizes landlord responsibilities to taxes, insurance, and capital expenditures.

Location Insight

City

Anadarko

County

Caddo

State

Oklahoma

Longitude

-98.2556

Latitude

35.0573