Long John Silver’s, Shawnee, Oklahoma

1417 N. Harrison Street

Property Information

Price: $1,133,400

Cap Rate: 6.0%
NOI: $68,004
Lease Term: 7 Years
Lease Type: Absolute NNN
Building Size: Approximately 2,618 Square Feet
Year Built: 2014
Status: Available
Lead Broker Information:

Randy Bell



Property Description

Investment Highlights

  • Brand-New 7 Year Absolute NNN Lease – Stable Cash Flow Asset – Zero Landlord Responsibilities – Two (5-Year) Options to Renew
  • 10% Rental Increases Throughout the Option Periods, Providing a Strong Hedge Against Inflation – The Lease Was Recently Renewed Showing the Tenant’s Long-Term Commitment to the Location
  • Guaranteed Lease by Silver Seafoods, Inc. (26 Units) – Long John Silver’s is a Leading Fast-Food Tenant Founded in 1969 That Operates More Than 640 Locations in 38 States & Singapore
  • 35 Year Successful Operating History at the Location – Property Features a Long-Stack Drive-Thru & 75 Parking Spaces, Providing the Tenant with the Ability to Effectively Handle High Restaurant Volume, While Providing Better Convenience & Accessibility for Their Customers
  • The Building Was Completely Rebuilt in 2014 & Features Long John Silver’s Latest Prototype Design – a Modern and Aesthetically Pleasing Property
  • Densely Populated, Infill Location with Strong Demographics – Over 37,000 People Living in a 5-Mile Radius of the Property with Average Household Income Exceeding $63,000
  • High Traffic Location – More Than 15,000 Vehicles Per Day on N. Harrison Street & Over 7,800 on Nearby Independence Road
  • Strategically Positioned Across the Street from Del Plaza Barbering Shopping Center, a Save A Lot Grocery Anchored Center That Brings Daily-Needs Consumers to the Trade Area – More Than 387,000 Visits to the Center Over the Last Calendar Year
  • Over 3.1 Million Square Feet of Industrial & Office Space and 4.2 Million Square Feet of Restaurant & Retail within a 5-Mile Radius of the Property, Resulting in a High Daytime Population of More Than 16,500 Employees
  • Strategically Positioned Near a Walgreens Drug Store That Has Averaged More Than 16,380 Visits Per Month Over the Last Calendar Year
  • Approximately 2.1 Miles from Oklahoma Baptist University with Over 1,700 Students Enrolled & 113 Faculty Members
  • Approximately 2.6 Miles from the 77 Bed SSM Health St. Anthony Hospital with Over $521.2 Million in Total Patient Revenue in 2021 & More Than 200 Healthcare Professionals On Staff