502 Plato Rd Duncan, OK 73533-3302

Property Details for 502 Plato Rd

Year built

1980

Lot size

1.56 lot acres

Property size

1,451 SF

Property type

Grocery and convenience stores

APN

1999-29-01N-07W-1-027-00

APU

19992901N07W102700

Description

This exceptional investment opportunity presents a 1,484 square foot convenience store and gas station located at 502 W Plato Rd, Duncan, OK 73533. The property sits on a 1.56-acre lot and boasts a strong 100% occupancy rate under a corporate-guaranteed Absolute NNN lease with a credit-rated tenant. The lease, commencing December 14, 2022, and expiring December 30, 2037, offers a remaining term of 13.1 years, providing long-term stability and predictable cash flow. The current annual Net Operating Income (NOI) is $147,796, resulting in a 7.50% cap rate at the asking price of $1,971,000. The lease includes four, 5-year renewal options with a 10% rent increase every five years, offering excellent protection against inflation. The property benefits from its proximity to key retail anchors, including a Walmart Supercenter-anchored shopping center and an Ace Hardware-anchored shopping center, as well as Duncan Regional Hospital and Duncan High School. Built in 1980, this Class B property is a single-unit building and features multiple national brand tenants including 7-Eleven, Circle K, Valero, Shell, 76 Gas, Exxon Mobile, and Arco Gas Station. The lease is backed by an approximately 80-unit division of Monfort Companies, providing significant financial security. This is an ideal passive investment opportunity with minimal landlord responsibilities.

Location Insight

City

Duncan

County

Stephens

State

Oklahoma

Longitude

-97.9497

Latitude

34.5357

CBSA code

20340

CBSA name

DUNCAN, OK MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments