1400 NW 23Rd St Oklahoma City, OK 73108

Property Details for 1400 NW 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