1400 23rd St Oklahoma City, OK 73106-3620

Property Details for 1400 23rd St

Year built

1968

Construction

WOOD FRAME

Lot size

0.45 lot acres

Property size

2,490 SF

Property type

Turn key restaurants

APN

04-500-1026

APU

45001026

Description

This exceptional investment opportunity presents a 2,527 square foot HTeaO franchise location in Oklahoma City, OK. The property boasts a prime location on a hard corner with excellent visibility and access, benefiting from daily traffic counts exceeding 21,000 vehicles. Built in 2022, this Class A, absolute NNN leased property features a dual drive-thru and offers a remaining lease term of 15.4 years, expiring March 30, 2040, with 1.5% annual rent bumps. The tenant, the largest HTeaO franchisee, operates within a rapidly growing brand in the quick-serve restaurant sector. The property sits on a 0.45-acre lot and generates a strong net operating income (NOI) of $120,000, resulting in a 6.25% cap rate. The strategic location is surrounded by a dense population with high average household incomes, numerous national retailers, schools, and Oklahoma City University, ensuring a consistent customer base. This investment offers exceptional stability and growth potential due to the strong tenant, long-term lease, and prime location within a thriving commercial area. The property's proximity to major employers, including business parks, office spaces, and distribution centers, further enhances its appeal. This is a rare opportunity to acquire a high-performing, low-maintenance investment property in a desirable market. The asking price is $1,920,000.

Location Insight

City

Oklahoma City

County

Oklahoma

State

Oklahoma

Longitude

-97.5346

Latitude

35.493

CBSA code

36420

CBSA name

OKLAHOMA CITY, OK METROPOLITAN STATISTICAL AREA

Property Tax & Assessments