1340 71St St Tulsa, OK 74136

Property Details for 1340 71St St

Year built

1983

Construction

WOOD FRAME

Lot size

0.61 lot acres

Property size

3,583 SF

Zone code

CS

Property type

Turn key restaurants

APN

71650-83-07-00010

APU

71650830700010

Description

This exceptional investment opportunity presents a brand-new, 1,600 square-foot Starbucks located at 1340 E 71st St, Tulsa, OK 74136. The property sits on a 0.6-acre lot and boasts a 10-year lease commencing April 1, 2024, and expiring April 1, 2034, with four, five-year renewal options. The tenant, Starbucks Corporation, is a credit-rated, corporate-guaranteed tenant providing significant financial stability. The lease includes attractive 7.5% rent bumps every five years, ensuring consistent income growth. The building, constructed in 2024, offers 100% occupancy and generates a strong net operating income (NOI) of $160,000, resulting in a 6.00% cap rate. The asking price is $2,667,000, translating to a price per square foot of $1,666.88. This single-tenant retail property represents a compelling investment opportunity in a prime Tulsa location with a highly recognizable and financially sound tenant. The property's strong financials, coupled with the long-term lease and built-in rent increases, make it an attractive addition to any portfolio. The location benefits from excellent demographics and strong market presence.

Location Insight

City

Tulsa

County

Tulsa

State

Oklahoma

Longitude

-95.9738

Latitude

36.0603

CBSA code

46140

CBSA name

TULSA, OK METROPOLITAN STATISTICAL AREA

Property Tax & Assessments