DOLLAR GENERAL | TULSA, OKLAHOMA



INVESTMENT SUMMARY

Purchase Price
$1,270,707

Location
5801 W. 41st Street

Cap Rate
6.50%

Annual Rent
$82,602.96

Building Size
9,100 SF

Land Area
1.14 Acres

Ownership
Fee Simple

Lease Type
NNN

Term Remainning
7.25 Years

LEASE EXPIRATION
10/31/2027

Renewal Options

RENT INCREASES
10% at Options

Parking
40 Spaces

Year Built
2012

APN
56870-92-20-26500

Traffic Counts
12,795 VPD
INVESTMENT HIGHLIGHTS
DOLLAR GENERAL CORPORATE GUARANTEED LEASE:
- 7.25 Years Remaining in the Initial 15 Year Lease Term
- 2012 Construction Build-to-Suit Dollar General
- Five (5) - Five (5) Year Option Periods with 10% Rental Increases
A TRUE COUPON CLIPPER | ABSOLUTE NNN LEASE:
- Absolute NNN Lease with ZERO Management Responsibilities
- Tenant Pays for ALL Operating Expenses, Insurance & Property Taxes
- Ideal, Management-Free Investment for an Out-of-State, Passive Investor
3% RENT INCREASE IN NOVEMBER 2022:
- Guaranteed 3% Rental Increase in November 2022
- In November 2022 (Approximately 2.5 Years) Cap Rate Increases to 6.70% (Assuming a Purchase at List Price)
WEST EXPANSION OF GILCREASE EXPRESSWAY (ADJACENT TO SUBJECT PROPERTY):
- Location of the Future West Loop for the Gilcrease Expressway Extension is Adjacent to the Dollar General
- Completes the Western Loop Around the Tulsa Metro-Area
- Upon Completion, the Gilcrease Expressway Will Be a 5-Mile, 4-Lane Divided Tollway that Includes 22 Bridges (Two Spanning the Arkansas River), 4 Major Interchanges & a 10-Foot Wide Multi-Use Trail
- Project Has Been in the Works Since 1961
- Estimated Completion Date is Mid-Summer of 2022
- The Project is Expected to Relieve Congestion During the Main Travel Periods in the Region and Provide a More Direct Route to City Attractions and Between Neighborhoods on Opposite Sides of the Arkansas River
TRADE AREA DEMOGRAPHICS:
- 1-Mile Population = 2,861 Residents
- 1-Mile Average Household Income = $93,734
- 3-Mile Population = 19,186 Residents
- 3-Mile Average Household Income = $65,582
- 5-Mile Population = 87,466 Residents
- 5-Mile Average Household Income = $70,770