121 Kenosha St Broken Arrow, OK 74012-1914

Property Details for 121 Kenosha St

Year built

1930

Construction

WOOD FRAME

Lot size

0.19 lot acres

Property size

440 SF

Zone code

CN

Property type

Auto shops

APN

78590-84-11-07610

APU

78590841107610

Description

This exceptional investment opportunity presents a 4,606 square foot RibCrib BBQ restaurant in Broken Arrow, Oklahoma. Located at 121 W Kenosha St, this property boasts a prime location on a highly trafficked thoroughfare averaging 23,313 vehicles daily, and enjoys proximity to major retailers including Bass Pro Shops, Target, Dick's Sporting Goods, Chick-fil-A, Lowe's, and more. The property sits on a 1.27-acre lot and benefits from a strong corporate-guaranteed Net Lease with RibCrib, a nationally recognized brand ranked among the top 9 BBQ joints in the US. The 15-year lease, commencing August 1, 2016, has a remaining term of 6.7 years with three 5-year renewal options, each including a 5% rent increase. The current Net Operating Income (NOI) is $194,254, yielding a 6.75% cap rate on the $2,877,900 asking price. Built in 2016, this restaurant is situated in a thriving community, Broken Arrow, the fourth most populous city in Oklahoma and ranked among the state's best places to live. With a population exceeding 165,000 within a 5-mile radius and average household incomes nearing $100,000, this investment offers exceptional stability and growth potential. The property's strong tenant, favorable lease terms, and strategic location make it an ideal addition to any portfolio. This is a rare opportunity to acquire a well-established, high-performing restaurant in a desirable market.

Location Insight

City

Broken Arrow

County

Tulsa

State

Oklahoma

Longitude

-95.7898

Latitude

36.0608

CBSA code

46140

CBSA name

TULSA, OK METROPOLITAN STATISTICAL AREA

Property Tax & Assessments