DOLLAR GENERAL | TULSA, OKLAHOMA

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
Five (5) - Five (5) Year
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

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