500 S Main St Fairfax, OK 74637

Property Details for 500 S Main St

Year built

1945

Lot size

3.72 lot acres

Property size

4,765 SF

Property type

Warehouses

APN

9996

APU

9996

Description

This exceptional investment opportunity presents a brand-new, 10,500-square-foot Family Dollar and Dollar Tree combination store in Fairfax, Oklahoma. Built in 2024, this property boasts a 9.5-year remaining lease term (expiring 05/31/2034), commencing May 1st, 2024, with a strong corporate guarantee from Dollar Tree, Inc. The net lease structure provides a secure, passive income stream with a current NOI of $136,500 and a 7.75% cap rate. The asking price is $1,761,000. Rent increases of $0.50 per square foot are built into the lease every five years, ensuring future income growth. Located on a 0.96-acre lot at 500 S Main St, Fairfax, OK 74637, this property benefits from its position on a primary thoroughfare and limited competition within a 20-mile radius. The property is situated in a market with over 14,000 residents within a 20-mile radius and an average household income exceeding $62,000. The building includes a 20-year roof warranty. This is a rare opportunity to acquire a high-quality, newly constructed retail property with a strong tenant and significant upside potential. The combination store format averages 20% higher sales than traditional Family Dollar locations.

Location Insight

City

Fairfax

County

Osage

State

Oklahoma

Longitude

-96.704

Latitude

36.5659

CBSA code

46140

CBSA name

TULSA, OK METROPOLITAN STATISTICAL AREA

Property Tax & Assessments