820 W Main St - Restaurant FOR SALE


Norman, OK 73069
$1,890,863 USD
424-405-3826
820 W Main St, Norman, OK for Sale
$1,890,863 USD
Restaurant - FOR SALE
1/9
null | 5.25% Cap Rate

820 W Main St
Norman, OK 73069


HIGHLIGHTS

  • Rare opportunity to acquire a Starbucks NNN lease with 13 years of term remaining
  • NNN lease backed by an exceptionally strong corporate tenant: Starbucks, a BBB+ rated, Fortune 200 company with consistent revenue growth
  • Starbucks, which opened this drive-thru store in 2006, has already demonstrated commitment to this location and exercised two future renewal options
  • Excellent retail location along a main thoroughfare with traffic volume over 23,000 VPD and directly across from Norman High School (2,100+ students)
  • One mile from the University of Oklahoma, which is ”designated by the Carnegie Foundation as a Highest Research Activity institution
  • A second contiguous parcel, included in the sale, offers a parking lot to accommodate additional customers

OVERVIEW

Marcus & Millichap is pleased to present to market the NNN-leased Starbucks drive-thru located at 820 West Main Street in Norman, Oklahoma, home to the University of Oklahoma, one of the nation’s leading research universities. The offering also includes the adjacent parking lot at 906 West Main Street. With 13 years of lease term remaining, three additional renewal options, and scheduled rent increases, this is an excellent opportunity to acquire a strong corporate-backed NNN-leased asset. Oklahoma Broker of Record: Tim Speck Lic #: 149994

FOR SALE DETAILS

PRICE

$1,890,863 USD

PRICE/SF

$941 USD /SF

CAP RATE

5.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Starbucks

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2006

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.37 AC

LAND SF

16,117 SF

ZONING

commercial

APN/PARCEL ID

R0033288

ASK ABOUT THIS PROPERTY

Steve BogoyevacMarcus & MillichapMore Info
424-405-3826

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Steve BogoyevacMarcus & MillichapMore Info
424-405-3826

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