1808 Washington St Idabel, OK 74745-5250

Property Details for 1808 Washington St

Year built

2003

Lot size

0.78 lot acres

Property size

721 SF

Property type

Drive through restaurants

APN

1399-04-08S-24E-2-012-00

APU

13990408S24E201200

Description

This exceptional investment opportunity presents a fee-simple ownership of a KFC restaurant located at 1808 E Washington St, Idabel, OK 74745. The 3,060 square foot building, constructed in 2006, sits on a 0.78-acre lot and boasts a 100% occupancy rate. The property is subject to an absolute NNN lease with a credit-rated, corporate-guaranteed tenant, minimizing landlord responsibilities. The current lease term extends until October 30, 2037, offering a substantial remaining term of 13 years. A significant advantage is the recent 15-year lease extension executed in 2023, demonstrating the tenant's long-term commitment. The lease includes attractive 1.5% annual rent increases, commencing November 1, 2024, and two 5-year renewal options with a 1.5% increase each. The property generates a Net Operating Income (NOI) of $72,116, resulting in a compelling 6.30% cap rate. The asking price is $1,145,000, translating to $374.18 per square foot. The property enjoys a prime location across the street from a Walmart Supercenter and near other national retailers, ensuring high visibility and strong foot traffic. This is a rare opportunity to acquire a stable, low-maintenance, high-return investment in a desirable location.

Location Insight

City

Idabel

County

Mccurtain

State

Oklahoma

Longitude

-94.8045

Latitude

33.8952

Property Tax & Assessments