2916 Southwest 59Th St, Oklahoma City, OK 73119
- Turn key restaurants
- 3,266 SF
- 0.57 lot acres
Current Use by Public Records
- Las Palmas / Restaurant
- SouthWest 59th Avenue / Freight Service / Logistics Company
Property Details for 2916 Southwest 59Th St
- Year built
- 1969
- Construction
- BRICK
- Lot size
- 0.57 lot acres
- Property type
- Turn key restaurants
- APN
- 14-083-1205
- APU
- 140831205
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Jul 7, 2020 | — | May 59 LLC | — | Deed · related | — |
| Dec 27, 2019 | — | May 59 LLC | — | Deed · related | — |
| Jul 18, 2018 | — | May 59 LLC | — | Deed · related | $300k · First National Bank Of Oklahoma |
| Jul 7, 2017 | — | May 59 LLC | Odeta Commercial Property Holding C | Warranty Deed | $262k · First National Bank Of Oklahoma |
| Aug 26, 2015 | $310,000 | Harry Summan | Roaring Fork Associates LLC | Grant Deed | $225k · Oklahoma Fidelity Bk |
| Aug 25, 2015 | $290,000 | Willys Donuts Pss INC | Roaring Fork Associates LLC | Grant Deed | $220k · Midfirst Bk |
| Mar 31, 2014 | $648,500 | Odeta Coml Prop Holding Co Ll | Roaring Fork Associates LLC | Grant Deed | $554k · Sooner St Bk |
| — | — | Odeta Coml Prop Holding Co Ll | — | Deed Of Trust · related | $545k · Sooner St Bk |
| — | — | May 59 LLC | — | Loan Modification · related | — |
| — | — | May 59 LLC | — | Loan Modification · related | — |
| — | — | Odeta Coml Prop Holding Co Ll|odetallah,fawzi A | — | Loan Modification · related | — |
Description
This fee-simple restaurant property at 2916 SW 59th St, Oklahoma City, OK 73119, offers a compelling investment opportunity. The 3,266 square foot building is currently leased to Las Palmas LLC under an Absolute NNN lease with a remaining term of five years, expiring March 7, 2029. The lease includes a 3.5% annual rent bump. The property boasts a strong 7.20% cap rate and a Net Operating Income (NOI) of $72,000, resulting in a price per square foot of $306.18. Its prime location on SW 59th Street, adjacent to a hard corner with high traffic volume (over 35,000 vehicles per day), offers excellent visibility and accessibility. The property benefits from its proximity to major roadways, including I-44 (120,000 vehicles per day), and is situated near numerous national retailers such as Casey's, Subway, AutoZone, Planet Fitness, and Family Dollar. Furthermore, its location is less than 10 minutes from Will Rogers International Airport, an Amazon warehouse, and Oklahoma City Community College (19,688 students), ensuring a robust and growing customer base. Across the street is a newly constructed $6,600,000 Almonte Library. This property presents a rare opportunity to acquire a well-located, high-performing restaurant investment in a thriving Oklahoma City market.
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Location Insight
- Map
- Local Demand
- City
- Oklahoma City
- County
- Oklahoma
- State
- Oklahoma
- Longitude
- -97.5665
- Latitude
- 35.4058
- CBSA code
- 36420
- CBSA name
- OKLAHOMA CITY, OK METROPOLITAN STATISTICAL AREA
