502 Plato Rd, Duncan, OK 73533-3302
- Grocery and convenience stores
- 1,451 SF
- 1.56 lot acres
Current Use by Public Records
- Chisholm Corner / Grocery & Convenience Store
- Conoco / Gas Station
Property Details for 502 Plato Rd
- Year built
- 1980
- Lot size
- 1.56 lot acres
- Property type
- Grocery and convenience stores
- APN
- 1999-29-01N-07W-1-027-00
- APU
- 19992901N07W102700
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Jan 4, 2023 | $1,259,500 | 7e Ok 502 W Plato Duncan LLC | City Mart Enterprises LLC | Special Warranty Deed | — |
| Jan 4, 2023 | $1,793,500 | Cc Oklahoma A LLC | 7e Ok 502 W Plato Duncan LLC | Special Warranty Deed | — |
| Dec 5, 2012 | $507,500 | City Mart Enterprises LLC | Ronald R Korsgard | Warranty Deed | — |
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.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,945,000
- ML approach
- $1,825,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Duncan
- County
- Stephens
- State
- Oklahoma
- Longitude
- -97.9497
- Latitude
- 34.5357
- CBSA code
- 20340
- CBSA name
- DUNCAN, OK MICROPOLITAN STATISTICAL AREA
