120 W Main St - Freestanding FOR SALE


Cordell, OK 73632
$464,000 USD
408-510-9057
120 W Main St, Cordell, OK for Sale
$464,000 USD
Freestanding - FOR SALE
1/3
null | 7.5% Cap Rate

120 W Main St
Cordell, OK 73632


HIGHLIGHTS

  • Long-Term Corporate Tenant With Over 25 Years of Operating History
  • Extremely Low Rent With Future Upside Potential
  • Current Annual Rent of Just $34,800 or ~$3.10/SF Offers Below-Market Basis for Future Renewal or Re-Tenanting
  • No Remaining Renewal Options—Landlord Has Full Negotiating Leverage at Expiration
  • Full Interior and Exterior Remodel Completed by Tenant in 2012
  • Located Within Driving Distance of Oklahoma City MSA

OVERVIEW

Marcus & Millichap is pleased to present the opportunity to acquire a long-standing, corporately guaranteed Dollar General located at 120 W Main Street in New Cordell, Oklahoma. Dollar General has occupied this location for over 25 years and currently operates under a corporate-backed double net (NN) lease with approximately 5.25 years remaining. The tenant pays just $2,900 per month—an extremely low rent level of approximately $3.10 per square foot—offering significant future upside upon lease renewal or repositioning. The ±11,250-square-foot building sits on a ±0.28-acre parcel at a central location along Cordell’s Main Street, just steps from the Washita County Courthouse and other civic anchors. Dollar General completed a full remodel of the store in 2012, and the landlord is only responsible for roof and structure. The lease includes no remaining options, which opens the door for renegotiation or redevelopment in the near future. New Cordell is the county seat of Washita County and serves as a key retail and services hub for the surrounding rural area. The store benefits from limited retail competition, a captive customer base, and proximity to schools, parks, and regional employers. With stable in-place income, a low acquisition basis, and corporate tenancy, this offering presents an attractive opportunity for investors seeking yield today with long-term flexibility and upside potential.

FOR SALE DETAILS

PRICE

$464,000 USD

PRICE/SF

$44 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Drug Store, Storefront, Department Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1925

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.28 AC

LAND SF

12,327 SF

ZONING

C1

APN/PARCEL ID

A001-00-052-021-0-001-00

ASK ABOUT THIS PROPERTY

Tyler BindiMarcus & MillichapMore Info
408-510-9057

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Tyler BindiMarcus & MillichapMore Info
408-510-9057

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.