901 Walnut Ave Duncan, OK 73533-4623
- Automotive properties
- 14,100 SF
Current Use by Public Records
- Firestone Complete Auto Care / Auto Repair Shop / Brake Shop
Property Details for 901 Walnut Ave
- Year built
- 1950
- Construction
- WOOD
- Property size
- 14,100 SF
- Property type
- Automotive properties
- APN
- 1001-00-138-029-0-000-00
- APU
- 100100138029000000
Description
This exceptional investment opportunity presents a 14,100 square foot Firestone Complete Auto Care, located at 901 W Walnut Ave, Duncan, OK 73533. The property, built in 1950 and renovated in 1985, sits on a 0.25-acre lot and boasts six service bays, aligning with Firestone's current store standards. The current lease, a Net Lease (NNN) agreement with a credit-rated tenant backed by a corporate guarantee (Bridgestone Corporation), has a remaining term of 1.5 years, expiring May 30, 2026. The lease includes two 5-year renewal options, with rent increases of 6% and 7% respectively. Rent bumps occur every five years, with the next increase scheduled for June 1, 2026. The property generates a strong NOI of $73,495, resulting in a 7.35% cap rate. The asking price is $999,930, translating to $70.92 per square foot. This location benefits from high visibility along W Walnut Ave, easy access from Hwy 81, and a strong demographic area with over 24,000 residents within a 5-mile radius. The property's long history (nearly 60 years) with Firestone and the tenant's significant investment in recent upgrades further solidify this investment's potential. The landlord is responsible only for roof and structure maintenance. This is a rare opportunity to acquire a well-established, high-performing asset in a desirable location.
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
- Duncan
- County
- Stephens
- State
- Oklahoma
- Longitude
- -97.9584
- Latitude
- 34.5034
- CBSA code
- 20340
- CBSA name
- DUNCAN, OK MICROPOLITAN STATISTICAL AREA
