Stanton Optical Norman,Oklahoma

$2,347,500
Available
Property type:Single-Tenant Net Lease

The space

  • Price: $2,347,500
  • Cap Rate: 6.37%
  • Rentable Square Feet: 3,650
  • Annual Rent: $149,650
  • Price PSF: $643.15
  • Land Area: 0.53 Acres
  • Year Built: 2020
  • Lease Type: NNN
  • Lease Term: 10 Years

Description

2550 West Main Street
Norman, OK 73069

Investment Highlights

  • Less Than Three Miles from The University of Oklahoma, With an Enrollment of More Than 34,000 Students and Faculty
  • New, 10-Year, Absolute Triple Net (NNN) Lease
  • Two, Five-Year Renewal Options, Bringing Total Term to 20 Years
  • 10 Percent Rent Increases Every Five Years Throughout Base Term and Option Periods
  • Brand New Location, Now Open
  • One Half Mile from Sooner Mall, Anchored by Dillard’s, JCPenney and Old Navy
  • Other Surrounding National Retailers Include Home Depot, Walmart Supercenter, Lowe’s, Sam’s Club, Target, TJ Maxx, Best Buy, Aldi, PetSmart, Hobby Lobby, Logan’s Roadhouse, Red Lobster, Olive Garden, BJ’s Restaurant & Brewhouse, Panda Express, Chick-fil-A, Panera Bread and Many More

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire Stanton Optical located in Norman, Oklahoma. This listing offers a new, 10-year, triple net lease, commencing in December 2020. There are two, five-year renewal options with 10 percent rent increases every five years throughout the base term and option periods. This is a brand-new location and is now open for business.

The subject property is at the signalized intersection of Main Street and 26th Street. Main Street is a major retail corridor with a daily traffic count of more than 32,800 vehicles. Stanton Optical is one half mile from Sooner Mall which is anchored by Dillard’s, JCPenney and Old Navy. Other surrounding national retailers include Home Depot, Walmart Supercenter, Lowe’s, Sam’s Club, Target, TJ Maxx, Best Buy, Aldi, PetSmart, Logan’s Roadhouse, Red Lobster, Olive Garden, Panda Express, Chick-fil-A, Panera Bread and many more. The property is located directly off Interstate 35 which is the major roadway running through the area with more than 69,800 vehicles daily. And is less than three miles from the University of Oklahoma, with an enrollment of more than 34,000 students and faculty.

Norman, Oklahoma is 19 miles South of Oklahoma City, the state’s capital city and the most populous city in the state with 647,000 million residents. The metro is expected to add 76,000 people over the next five years. The major employers include the State of Oklahoma, Tinker Air Force Base and the FAA Mike Monroney Aeronautical Center.

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