2200 14th St Ponca City, OK 74601-1832

Property Details for 2200 14th St

Year built

2018

Lot size

0.99 lot acres

Property size

2,452 SF

Property type

Drive through restaurants

APN

0550-00-000-035-0-000-00

APU

55000000035000000

Description

This exceptional investment opportunity presents a freestanding Popeyes restaurant, totaling 2,420 square feet, situated on approximately one acre of land in Ponca City, Oklahoma. Built in 2018, this property boasts a prime location in a high-traffic retail corridor, strategically positioned between a hospital and a Walmart. The property is subject to a strong, absolute NNN ground lease with a remaining term of approximately 17.7 years, extending to July 30, 2042, and featuring annual rent increases of 1.5%. This translates to a stable, hands-off investment with built-in inflation protection. The current annual net operating income (NOI) stands at $101,500, representing a compelling 6% capitalization rate on the asking price of $1,691,667. The property is 100% occupied by an experienced franchisee operating approximately 40 units. The lease includes four five-year renewal options, further enhancing the long-term value and security of this investment. The property's location, coupled with the strength of the Popeyes brand and the lease terms, makes this an attractive opportunity for investors seeking a stable, high-yield, and recession-resistant investment. The property is offered at $699.04 per square foot. This is a single-tenant, absolute NNN lease, minimizing landlord responsibilities.