607 Fir StPerry, OK 73077

For Sale
$1,542,000
7.75% Cap Rate, Family Dollar

Overview

Added:
Dec 11, 2024
Days on market:
126
This exceptional investment opportunity presents a fee-simple ownership of a 10,500-square-foot retail property in Perry, Oklahoma. The building, constructed in 2022, is currently 100% occupied by a dual-branded Family Dollar/Dollar Tree store under a single, absolute NNN lease. The lease boasts a remaining term of eight years, with five five-year renewal options, each including a $0.50 per square foot rental escalation. This translates to a substantial net operating income (NOI) of $119,490, yielding an attractive 7.75% cap rate. The property sits on a 0.75-acre lot, strategically located on Fir Street, just off the highly trafficked intersection of US 77 and US 64, boasting 4,960 cars per day passing by. The strong demographics of the area, with a total population of 129,276 and an average household income of $89,825, further enhance the investment potential. The property is zoned C and features a single-story building. Dollar Tree, a Fortune 200 company with strong credit ratings (S&P BBB, Moody's Baa2), provides exceptional tenant stability. This is a rare opportunity to acquire a high-performing, net-leased retail asset with significant long-term growth potential. The asking price is $1,542,000.

Highlights

  • 8-year remaining corporate lease with Dollar Tree; $0.50/SF rental escalations every 5 years in renewal options.
  • Dollar Tree (NASDAQ: DLTR), a Fortune 200 company with strong credit ratings (S&P BBB, Moody's Baa2), is the tenant.
  • Newly constructed (2022) dual-branded Family Dollar/Dollar Tree store.
  • High-visibility location on a signalized corner (US 77 & US 64), with 4,960 cars per day traffic count.
  • Strong demographics: 129,276 total population and $89,825 average household income.

Property Details for 607 Fir St

Property type
Retail properties, Drug stores
Square Feet
10,500 SF
Year Built
2022
Buildings
1
Stories
1
Lot Size (sq. ft)
32,670 SF
Units
1

Location Insight

City
Perry
County
Noble
State
Oklahoma
Latitude
36.2899149
Longitude
-97.2866123
607 Fir St, Perry, Oklahoma

FAQs

What type of property is this?
Retail property - 7.75% Cap Rate, Family Dollar
Where is the retail property located?
The property is located at 607 Fir St Perry, OK.
What is the asking price?
The asking price for this property is $1,542,000.
What are key features of this property?
This property features: 8-year remaining corporate lease with Dollar Tree; $0.50/SF rental escalations every 5 years in renewal options.; Dollar Tree (NASDAQ: DLTR), a Fortune 200 company with strong credit ratings (S&P BBB, Moody's Baa2), is the tenant.; Newly constructed (2022) dual-branded Family Dollar/Dollar Tree store.
How can I contact the broker?
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607 Fir St
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