Surf Bar | 4yrs Remain Abs NNN | 6825 SE 29th St
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Surf Bar | 4yrs Remain Abs NNN 6825 SE 29th St
2,730 SF Retail Building Midwest City, OK 73110 £1,328,137 (£486/SF) 6.50% Net Initial Yield
INVESTMENT HIGHLIGHTS
- 4 Years Remaining on Lease | Newly-Remodeled Building | Sublease with Surf Bar
- Strategically Located Along SE 29th St. (25,800 VPD) | Nearby Interstate 40 | Excellent Visibility
- Tinker Air Force Base | Rose State College (8,150+ Students)
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Dense Retail Corridor | Strong National/Credit Tenant Presence
- Direct Consumer Base | Oklahoma City MSA
EXECUTIVE SUMMARY
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, drive-thru equipped, newly-remodeled Surf Bar investment property located in Midwest City, Oklahoma (Oklahoma City MSA). The tenant, Johnnie’s Group, LLC has approximately 4 years remaining on its current lease term. The lease is absolute NNN with zero landlord responsibilities, making this an ideal, management-free investment opportunity for a passive investor. Jones Boys Enterprise, LLC (dba Surf Bar) currently occupies the building as a subtenant, paying monthly rent in the amount of $8,596.33 from 8/1/2022 to 11/30/2028.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,730 SF
Building Class
B
Year Built/Renovated
1987/2022
Price
£1,328,137
Price Per SF
£486
Net Initial Yield
6.50%
NOI
£86,340
Tenancy
Single
Number of Floors
1
Building FAR
0.21
Lot Size
0.30 AC
Zoning
C-3 - General Commercial Zone
Parking
18 Spaces (6.59 Spaces per 1,000 SF Leased)
Frontage
56 ft on 29th St
AMENITIES
- Freeway Visibility
- Pylon Sign
- Restaurant
- Signage
- Drive Thru
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 150251500 | Improvements Assessment | £126,307 |
| Land Assessment | £13,668 | Total Assessment | £139,975 |
PROPERTY TAXES
Parcel Number
150251500
Land Assessment
£13,668
Improvements Assessment
£126,307
Total Assessment
£139,975
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Surf Bar | 4yrs Remain Abs NNN | 6825 SE 29th St
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