6825 29th St Midwest City, OK 73110-3039
- Turn key restaurants
- 2,730 SF
- 0.30 lot acres
Current Use by Public Records
- Turn key restaurants
Property Details for 6825 29th St
- Year built
- 1987
- Construction
- BRICK
- Lot size
- 0.30 lot acres
- Property size
- 2,730 SF
- Property type
- Turn key restaurants
- APN
- 15-025-1500
- APU
- 150251500
Description
This exceptional investment opportunity presents the fee simple ownership of a 2,730 square foot restaurant in Midwest City, Oklahoma, within the Oklahoma City MSA. The property, built in 1987 and extensively renovated in 2022, boasts a prime location on SE 29th Street, a high-traffic thoroughfare averaging 25,800 vehicles daily, with convenient access to Interstate 40 (67,900 VPD). The absolute NNN lease, with zero landlord responsibilities, offers a passive investment opportunity with approximately 3 years remaining on a 10-year term (commencing November 17, 2017, expiring November 16, 2027). The current tenant, under sublease, pays a monthly rent of $8,596.33, generating a substantial NOI of $108,564 and a 6.50% cap rate. The property sits on a 0.3-acre lot with 18 parking spaces and benefits from excellent visibility due to significant street frontage and a large pylon sign. Its location within a dense retail corridor, alongside national tenants like Target, Lowe's, and Walmart, ensures strong tenant synergy and high consumer traffic. Further enhancing its appeal is its proximity to Tinker Air Force Base (26,000+ employees) and Rose State College (8,150+ students), contributing to a robust consumer base of over 120,000 residents and 48,550 employees within a 5-mile radius. The property is zoned C-3 - General Commercial Zone and features a drive-thru. The asking price is $1,670,000, translating to $611.72 per square foot. This is a truly turnkey investment opportunity with significant upside potential.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,585,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,565,000
- 6.5%
- $1,465,000
- 7%
- $1,515,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,390,000
- Geo Method
- $1,550,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,375,000
- Retail
- $1,535,000
- Mixed-Use
- $1,660,000
- Hospitality
- $1,295,000
- Educational
- $1,680,000
- Residential Income
- $1,680,000
- Energy
- $1,380,000
- Income-Based Land
- $1,495,000
- Food Service
- $1,265,000
Location Insight
- Map
- Local Demand
- City
- Midwest City
- County
- Oklahoma
- State
- Oklahoma
- Longitude
- -97.4087
- Latitude
- 35.4356
- CBSA code
- 36420
- CBSA name
- OKLAHOMA CITY, OK METROPOLITAN STATISTICAL AREA
