400 Conner Ave, Fairland, OK 74343-4930
- Motels
- 5,064 SF
- 0.83 lot acres
Current Use by Public Records
- Dollar General / Discount Store
Property Details for 400 Conner Ave
- Year built
- 1961
- Lot size
- 0.83 lot acres
- Property type
- Motels
- APN
- 3120-00-004-004-0-000-00
- APU
- 312000004004000000
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Jan 26, 2024 | $182,500 | Matthew Shockley | Rachel Corrinne Pruitt | Warranty Deed | $188k · First National Bank & Trust Co |
Description
This exceptional investment opportunity presents a fee-simple, single-tenant retail property fully leased to Dollar General in Fairland, Oklahoma. The 9,002 square-foot building, constructed in 2021 on a 2-acre lot, operates under a 15-year absolute NNN lease with five 5-year renewal options, each including a 10% rent increase. The lease commenced April 30, 2021, and has a remaining term of approximately 11.4 years. The property boasts a strong 6.35% cap rate and a substantial net operating income (NOI) of $89,698. The tenant, Dollar General, provides a corporate guarantee, minimizing landlord responsibilities. This build-to-suit property offers a secure, long-term investment with significant upside potential due to the built-in rent escalations. Located at 400 W Conner Ave, Fairland, OK 74343, this property represents a compelling addition to any diversified portfolio. The asking price is $1,413,000, translating to a price per square foot of $156.97. This is a rare opportunity to acquire a high-quality, passively managed retail investment with a blue-chip tenant and a proven track record.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Fairland
- County
- Ottawa
- State
- Oklahoma
- Longitude
- -94.8426
- Latitude
- 36.7537
- CBSA code
- 33060
- CBSA name
- MIAMI, OK MICROPOLITAN STATISTICAL AREA
