506 George Nigh Expy Mcalester, OK 74501-6711
- Auto shops
- 1,431 SF
- 1.26 lot acres
Dec 31, 2024
Current Use by Public Records
- Take 5 Oil Change / Oil Change Service
- Take 5 Car Wash / Car Wash
Property Details for 506 George Nigh Expy
- Year built
- 1982
- Lot size
- 1.26 lot acres
- Property size
- 1,431 SF
- Property type
- Auto shops
- APN
- 0100-00-505-000-0-000-00
- APU
- 10000505000000000
Description
This exceptional investment opportunity presents a brand-new, 1,421 square foot Take 5 Oil Change located in McAlester, Oklahoma. The property sits on a 0.34-acre lot at 506 S George Nigh Expy, 74501. Built in 2023, this single-tenant retail building is currently operating at 100% occupancy under a 20-year triple-net (NNN) lease with a strong corporate guarantor, Driven Funding Holdco, LLC (approximately 3,500 units). The lease features a substantial annual rent of $100,000, providing a 6.25% cap rate. Annual rental increases of 1.5% are built into the lease throughout the initial 20-year term and extend into four, five-year renewal options. The NNN lease structure ensures minimal landlord responsibilities, making this a low-maintenance, high-return investment. This property offers a secure, long-term investment with significant upside potential due to the established tenant and favorable lease terms. The property's prime location and the strength of the corporate guarantee further enhance its attractiveness to discerning investors. This is a rare opportunity to acquire a high-performing, passively managed asset with exceptional long-term growth prospects.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Mcalester
- County
- Pittsburg
- State
- Oklahoma
- Longitude
- -95.7446
- Latitude
- 34.9177
- CBSA code
- 32540
- CBSA name
- MCALESTER, OK MICROPOLITAN STATISTICAL AREA
