121 Kenosha St Broken Arrow, OK 74012-1914
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.
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Easley Service Station (Bike/Boat/Book/etc) Store Auto Parts Store
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RibCrib BBQ Restaurant
CN, Commercial neighborhood CG Commercial general CG, Commercial general CH Commercial heavy CH, Commercial heavy IL Industrial light IL, Industrial light IH Industrial heavy IH, Industrial heavy Special Purpose and Overlay Districts PUD Planned unit development PUD, Planned unit development FD Floodplain FD, Floodplain DROD Downtown residential overlay dist…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
CN · Broken Arrow, OKCN, Commercial neighborhood CG Commercial general CG, Commercial general CH Commercial heavy CH, Commercial heavy IL Industrial light IL, Industrial light IH Industrial heavy IH, Industrial heavy Special Purpose and Overlay Districts PUD Planned unit development PUD, Planned unit development FD Floodplain FD, Floodplain DROD Downtown residential overlay district DRO, Downtown residential overlay HDOD Highway design overlay district HDO, Highway design overlay NOSOD New Orleans Square overlay district New Orleans Square overlay district B. Agricultural and residential districts. 1. General purposes of residential districts. The residential zoning districts are intended to: a. Provide appropriately located areas for residential development that are consistent with the Comprehensive Plan and with standards for public health, safety, and general welfare; b. Allow for a variety of housing types that meet the diverse economic and social needs of residents; c. Protect the scale and character of existing residential neighborhoods and community character; d. Discourage any use that would generate traffic or create congestion on neighborhood streets other than typical traffic associated with residential use; and e. Discourage any use that would create additional requirements and costs for public services that are in excess of such requirements and costs if the district were developed solely for the intended type of residential uses. 2.
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
