1800 Meridian Ave Oklahoma City, OK 73108-1718
- Turn key restaurants
- 6,344 SF
- 1.72 lot acres
Current Use by Public Records
- The Mug Scratch Kitchen & Tavern / Bar & Grill / Sports Bar
Property Details for 1800 Meridian Ave
- Year built
- 1999
- Construction
- BRICK
- Lot size
- 1.72 lot acres
- Property size
- 6,344 SF
- Property type
- Turn key restaurants
- APN
- 13-238-3951
- APU
- 132383951
Description
This exceptional investment opportunity presents the Frosted Mug Bar and Grill, a thriving Class A restaurant located at 1800 S Meridian Ave, Oklahoma City, OK 73108. The 6,344 square foot building sits on a 1.72-acre lot, offering ample parking and excellent visibility on a busy corridor. Currently operating under a Net Lease (NNN) agreement with 5.9 years remaining on a 10-year lease (commencing November 1, 2020, and expiring October 31, 2030), this property provides a secure and low-maintenance investment. The lease includes a 12% option for rental increases. The tenant, with a proven track record exceeding 12 years, generated over $2 million in revenue in 2022. The property boasts a strong Net Operating Income (NOI) of $192,000, resulting in an attractive 7.15% capitalization rate. The NNN lease structure shifts responsibility for property maintenance (including structural maintenance, roof repairs, parking lot upkeep, HVAC, and plumbing) to the tenant, minimizing investor responsibilities. This turnkey investment offers significant potential for long-term growth and passive income. Built in 1999, this property is priced at $2,685,000 ($423.23 per square foot).
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Oklahoma City
- County
- Oklahoma
- State
- Oklahoma
- Longitude
- -97.6004
- Latitude
- 35.4461
- CBSA code
- 36420
- CBSA name
- OKLAHOMA CITY, OK METROPOLITAN STATISTICAL AREA
