Chisholm Corner, Duncan, Oklahoma

502 W. Plato Rd no-imageVIEW MAP

Property Information

Price: $2,111,371

Cap Rate: 7.0%
NOI: $147,796
Lease Term: 15 Years
Lease Type: Absolute NNN
Building Size: Approximately 1,484 Square Feet
Status: Available
Lead Broker Information:

Randy Bell


Property Description

Investment Highlights

  • Brand New 15 Year Absolute NNN Lease – Stable Cash Flow Asset – Zero Landlord Responsibilities – Four (5-Year) Options to Renew
  • 10% Rental Increases Every 5 Years Throughout the Initial Term and Option Periods, Providing a Strong Hedge Against Inflation
  • Lease is Guaranteed by Montfort Companies Parent Entity – Montfort is the Largest 7-Eleven Franchisee and is a Growing C-Store Operator – They Have Built a Strong Presence in Oklahoma as well as Colorado, Texas, Wyoming, Kansas & Minnesota
  • Long Operating History at the Site & the Tenant Recently Executed a New Lease, Evidencing Their Commitment to the Location Long-Term
  • Recession & Internet Resistant Use – C-Stores Generate “Daily Needs” Business and Have a Stable Consumer Base
  • Intrinsic Value Asset with Accelerated Depreciation Capability – 1,484 Square Feet C-Store on a Sizeable 1.56 Acre Parcel Containing 13 Parking Spaces & a Long Drive-Thru Bay, Providing Chisholm Corner with the Ability to Effectively Handle High Customer Volume
  • Densely Populated, Infill Location with Strong Demographics – Over 25,300 People in a 5-Mile Radius with Average Household Income Exceeding $91,000 in a 1-Mile Radius of the Property
  • More Than 3,500 Vehicles Per Day on W. Plato Rd, Over 2,800 Vehicles Per Day on N. 5th Street & an Additional 21,769 on Nearby US-81
  • Over 3.9 Million Square Feet of Industrial & Office Space and 2.3 Million Square Feet of Restaurant & Retail within a 5-Mile Radius of the Property, Resulting in a High Daytime Population of More Than 1,000 Businesses & 10,700 Employees
  • Centrally Positioned within a Half-Mile Radius of Five Different Churches, Bringing Hundreds of Drivers Directly in Front of the Site Multiple Days Every Week
  • Approximately 1.8 Miles from a Walmart Supercenter Department Store That Has Seen More Than 2.47 Million Visitors Over the Prior Calendar Year
  • Approximately 2.6 Miles from the 110 Bed Duncan Regional Hospital with Over $415.4 Million in Total Patient Revenue in 2021 and a Staff of More Than 267 Physicians & 2,700 Additional Healthcare Professionals
  • Located Less Than 4 Miles from Halliburton’s Duncan Manufacturing Center – The 705,000+ Square Foot Facility Sits On More Than 160-Acres & Employs Over 1,000 People, Generating Jobs & Growth Opportunities for Duncan & the Surrounding Areas
  • More Than 780 Apartment Units & 13 Hotels with a Combined 604 Rooms Located within a 5-Mile Radius of the Property