2325 71st St Tulsa, OK 74136-5414

Property Details for 2325 71st St

Year built

1984

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.48 lot acres

Property size

8,100 SF

Zone code

CS

Property type

Commercial land

APN

98306-83-06-41690

APU

98306830641690

Description

This exceptional investment opportunity presents a brand-new, 20-year absolute NNN lease with Salad and Go, a rapidly expanding QSR chain. Located in Tulsa, Oklahoma, at 2325 E 71st St, this property boasts a prime location on a high-traffic thoroughfare (44,300 VPD), near the signalized intersection of E. 71st St and S. Lewis Ave (75,800 VPD). The 827 square foot building, constructed in 2023, features a dual drive-thru for optimal customer convenience and is situated within a dense retail corridor, close to Tulsa Hills Shopping Center, a major power center attracting over 7.6 million visitors annually. The property sits on a 0.48-acre lot with 18 parking spaces. The lease, commencing October 1, 2023, and expiring October 1, 2043, includes four 5-year renewal options and features 10% rent increases every five years, ensuring consistent NOI growth. The corporate-guaranteed lease provides significant security, and the absolute NNN structure eliminates landlord responsibilities. With a current NOI of $147,946 and a 6.50% cap rate, this investment offers a compelling return. The strong demographics of the 5-mile trade area, encompassing over 195,604 residents and 119,866 employees with an average household income of $99,975, further solidify this property's investment potential. The property is zoned CS: Commercial and has an APN of 98306-83-06-41690. This is a fee simple ownership (land & building). The asking price is $2,276,000, representing a price per square foot of $2,752.12.