Tulsa, OK Popeyes 10207 E. 41st Street, Tulsa, OK Cap Rate 6% Tulsa ( Oklahoma, US ) Built

$2,170,000 USD
Dollars

BAI-MEX Bienes Raíces y Negocios

  • Type: Commercial
  • Style: Commercial
  • Size: 2,063 sq. ft.
  • Development Level: Built
  • Year Built: 2006

Description

Tulsa, OK Popeyes 10207 E. 41st Street, Tulsa, OK Cap Rate 6%

Cap Rate: 6%
NOI: $130,200
Building Size: 2,063 sqft
Occupancy: 100%
Year Built: 2006

Price: $2,170,000 USD

DESCRIPTION
SRS National Net Lease Group is pleased to present the opportunity to acquire the fee simple interest (land & building) in a freestanding, absolute NNN leased, Popeyes Louisiana Kitchen with drive-thru located in Tulsa, OK. The tenant, Oklahoma PLK, Inc. dba Popeyes Louisiana Kitchen, currently has more than 10 years remaining in their initial term with 3 (5-year) options to extend. The lease features a 5% rental increase in Dec. 2024 and at the beginning of each option period, growing NOI and hedging against inflation. This store is operated by Womack Enterprises, an experienced franchisee which operates approximately 37 Popeyes locations throughout Oklahoma, Kansas, Missouri, and Indiana. The lease is also personally guaranteed by the principal of the franchisee. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for an out-of-state, passive investor.

Popeyes Lousiana Kitchen is located at the signalized, hard corner intersection of E. 41st Street and S. 102nd E. Avenue, averaging more than 22,000 combined vehicles passing by daily. The site is equipped with a large pylon sign, providing excellent visibility along both cross-streets. Moreover, Popeyes has convenient nearby direct on/off ramp access to U.S. Highway 169 (103,700 VPD), a major north/south commuter thoroughfare traveling throughout the Tulsa MSA. Other nearby major thoroughfares include U.S. Highway 64 (84,900 PVD) and Interstate 44 (74,100 VPD). The building is also equipped with a drive-thru, providing ease and convenience to customers. On average, stores with drive-thrus experience higher sales than those without. The asset is positioned within a dense retail corridor, with nearby national/credit tenants including Walmart Neighborhood Market, Planet Fitness, At Home, and more, increasing consumer draw to the trade area and promoting crossover store exposure. The 5-mile trade area is supported by an extremely dense population of nearly 225,000 residents and 152,000 employees with a healthy average household income of $70,000.

For more information:
Javier Tamez Martínez.
jtamez@bai-mex.com
Celular: +52 (81) 1599 75 36
Podemos encontrar propiedades comerciales e industriales para invertir en cualquier ciudad y estado de estados unidos.

Attachments

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Information is deemed to be correct but not guaranteed.