6017 Reno Ave Oklahoma City, OK 73127-6650
- Turn key restaurants
- 3,776 SF
- 0.88 lot acres
Current Use by Public Records
- Turn key restaurants
Property Details for 6017 Reno Ave
- Year built
- 2015
- Construction
- WOOD FRAME
- Lot size
- 0.88 lot acres
- Property size
- 3,776 SF
- Property type
- Turn key restaurants
- APN
- 14-801-8063
- APU
- 148018063
Description
This exceptional investment opportunity presents a newly renovated (2024) Dairy Queen located at 6017 W Reno Ave, Oklahoma City, OK 73127. The property boasts a 3,871 square foot building on a 0.88-acre lot, operating under a 20-year absolute NNN lease commencing November 1, 2024, and expiring October 31, 2044. The lease includes four 5-year renewal options, each with a 10% rent increase. The current annual net operating income (NOI) is $147,500, representing a 5.75% capitalization rate on the $2,565,217 asking price ($662.68/sq ft). The property benefits from a prime location in a dense retail corridor with high traffic volume (43,000+ vehicles per day) and proximity to major retailers like Walmart, Hobby Lobby, and Home Depot. The franchisee, DND Group, operates over 60 units across five brands, demonstrating significant experience and operational expertise. Built in 2015, this Dairy Queen enjoys 100% occupancy and benefits from a strong demographic profile, with over 178,100 residents within a 5-mile radius and nearly 50% population growth over the past decade. The property's strong tenant, long-term lease, and favorable location make it an attractive investment opportunity with significant potential for future returns. The 10% rent bumps every five years provide built-in appreciation throughout the lease term and options. This is a single-tenant, single-building property.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,080,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $990,000
- 6.5%
- $885,000
- 7%
- $965,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $965,000
- Geo Method
- $1,070,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,060,000
- Retail
- $950,000
- Mixed-Use
- $950,000
- Hospitality
- $910,000
- Educational
- $900,000
- Residential Income
- $1,080,000
- Energy
- $835,000
- Income-Based Land
- $985,000
- Food Service
- $1,130,000
Location Insight
- Map
- Local Demand
- City
- Oklahoma City
- County
- Oklahoma
- State
- Oklahoma
- Longitude
- -97.6212
- Latitude
- 35.4648
- CBSA code
- 36420
- CBSA name
- OKLAHOMA CITY, OK METROPOLITAN STATISTICAL AREA
