1600 44Th StOklahoma City, OK 73129

Property Details for 1600 44Th St

Year built

2015

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.46 AC

Property size (Sq ft)

9,503 SF

Property type

Retail properties

Property subtype

Retail space

APN

10-532-1070

APU

105321070

Description

This exceptional investment opportunity presents a fee-simple, single-tenant, absolute NNN retail property leased to Dollar General. Located at 1600 SE 44th St, Oklahoma City, OK 73129, this 9,100 square foot building sits on a 2.49-acre lot and was constructed in 2014 as a build-to-suit for the tenant. The property benefits from a prime location near the intersection of I-35 and SE 44th St, experiencing high daily traffic counts of 144,100 vehicles. The strong demographics further enhance the investment's appeal, with a 3-mile population of 68,256 residents and a 5-mile population of 216,430 residents, boasting an average household income of $69,104. The current lease, an absolute NNN with zero management responsibilities, has a remaining term of 5.5 years, with four, 5-year renewal options, each including a 10% rent increase. The tenant, Dollar General, holds an investment-grade credit rating (BBB, S&P) and enjoys a significant market presence with approximately 19,500 locations nationwide. The property's current NOI is $90,360, yielding a 6.45% cap rate, and the asking price is $1,400,000. This is a rare opportunity to acquire a stable, high-performing retail investment with a credit-rated tenant and significant long-term growth potential. The lease commenced February 12, 2015, and expires February 28, 2030. The property is 100% occupied.

• CAP approach

  CAP return

  Valuation

  6%

  $2,319,122

  6.5%

  $2,140,728

  7%

  $1,987,819

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,881,370

  Geo Method

  $2,881,370

• Alternative Use

  Use

  Valuation

  Residential

  $1,805,784

  Hospitality

  $1,654,089

  Educational

  $1,376,182

  Medical

  $1,423,511

  Retail

  $2,140,728

Location Insight

City

Oklahoma City

County

Oklahoma

State

Oklahoma

Latitude

35.4203

Longitude

-97.4831

CBSA code

36420

CBSA name

OKLAHOMA CITY, OK METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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