Current Use by Public Records
- Retail properties & Spaces
Property Details for 604 Ok-19
- Year built
- 1999
- Property type
- Retail properties & Spaces
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a 2,886 square foot convenience store and gas station in Apache, Oklahoma. The property boasts a 12.1-year remaining lease term with a corporate guarantee from Monfort, a significant national operator with over 80 locations. The absolute triple-net (NNN) lease ensures zero landlord responsibilities, providing a passive income stream. Rent increases are built in, with a 10% bump every five years, and four five-year renewal options are included, securing long-term cash flow. The property, built in 1999, sits on a 0.22-acre lot and includes six parking spaces and a drive-thru, catering to high customer volume. The location benefits from high traffic counts on nearby State Highway 62 and is conveniently situated less than an hour from Oklahoma City, a major metropolitan area with a population exceeding 700,000. The current net operating income (NOI) is $104,468, yielding a 7.00% cap rate. This asset offers significant intrinsic value and accelerated depreciation potential, making it an attractive addition to any portfolio. The asking price is $1,492,400, translating to $517.12 per square foot. The lease commenced December 15, 2022, and expires December 31, 2036.
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
- Apache
- County
- Caddo
- State
- Oklahoma
- Longitude
- -98.3595
- Latitude
- 34.8986
