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    607 Fir St Perry, OK 73077
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    607 Fir St, Perry, OK 73077

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    • Outlet malls
    • 11,058 SF
    • 0.75 lot acres
    For Sale
    $1,494,000
    View Listing →
    Family Dollar NNN Investment Opportunity For Sale
    $1,494,000
    10,500 SF

    Family Dollar NNN Investment Opportunity

    NNN leased Family Dollar with rental escalations and renewal options.

    607 Fir St, Perry, OK 73077
    View Listing
    Property ID
    US69-2199727
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Family Dollar / Discount Store

    Property Details for 607 Fir St

    Year built
    1935
    Lot size
    0.75 lot acres
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    1220-00-064-025-0-001-00
    APU
    122000064025000100

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 27, 2022 $176,000 Jst Investments LLC Dreamer Properties LLC Warranty Deed —
    Apr 8, 2019 — Dreamer Properties LLC — Deed · related $174k · First Bank & Trust Co

    Description

    This exceptional investment opportunity presents a fee-simple ownership of a 10,500-square-foot retail property in Perry, Oklahoma. The building, constructed in 2022, is currently 100% occupied by a dual-branded Family Dollar/Dollar Tree store under a single, absolute NNN lease. The lease boasts a remaining term of eight years, with five five-year renewal options, each including a $0.50 per square foot rental escalation. This translates to a substantial net operating income (NOI) of $119,490, yielding an attractive 7.75% cap rate. The property sits on a 0.75-acre lot, strategically located on Fir Street, just off the highly trafficked intersection of US 77 and US 64, boasting 4,960 cars per day passing by. The strong demographics of the area, with a total population of 129,276 and an average household income of $89,825, further enhance the investment potential. The property is zoned C and features a single-story building. Dollar Tree, a Fortune 200 company with strong credit ratings (S&P BBB, Moody's Baa2), provides exceptional tenant stability. This is a rare opportunity to acquire a high-performing, net-leased retail asset with significant long-term growth potential. The asking price is $1,542,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Perry
    County
    Noble
    State
    Oklahoma
    Longitude
    -97.2867
    Latitude
    36.29

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $15,024
    $13,455
    $139,648
    $153,103
    -
    $117,000
    $1,214,329
    $1,331,329

    Comparable in this City

    • Value Estimation
      $1,710,000
      12,498 SF

      1716 Fir St

      WHOLESALE OUTLET, DISCOUNT STORE
      1716 Fir St, Perry, OK 73077-5801
      View Details
    • Value Estimation
      $1,565,000
      30,330 SF

      1506 Fir St

      WHOLESALE OUTLET, DISCOUNT STORE
      1506 Fir St, Perry, OK 73077-5004
      View Details
    • Value Estimation by Request
      5,000 SF

      602 15th St

      SHOPPING CENTER, STRIP CENTER
      602 15th St, Perry, OK 73077-5002
      View Details
    • Value Estimation by Request
      13,688 SF

      1502 Fir St

      MINI-MALL
      1502 Fir St, Perry, OK 73077-5004
      View Details
    • Value Estimation by Request
      1,056 SF

      311 11th St

      RESTAURANT
      311 11th St, Perry, OK 73077
      View Details
    • Value Estimation by Request
      5,550 SF

      501 6th St

      AUTO REPAIR, GARAGE
      501 6th St, Perry, OK 73077-6610
      View Details

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      Family Dollar NNN Investment Opportunity

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    Perry, OK 73077
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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