For Sale
$1,250,000

6501 May Ave Oklahoma City, OK 73116

High-yield, corporate-guaranteed QSR ground lease.

Overview

Added:
Dec 11, 2024
Days on market:
133
This exceptional investment opportunity presents a 1,050 square foot, absolute NNN ground lease with Salad and Go, a rapidly expanding healthy fast-food chain. Located at 6501 N May Ave, Oklahoma City, OK 73116, this property boasts a prime location with excellent visibility at a signalized intersection experiencing combined daily traffic of 44,800 vehicles. The 20.1-year lease, commencing July 1, 2024, and expiring July 31, 2044, includes a corporate guarantee and features 10% rent bumps every five years, along with four and five-year renewal options. The property sits on a 0.35-acre lot and benefits from a strong surrounding tenant mix, including national brands such as Sprouts Farmers Market, Home Depot, Target, Sam's Club, Petco, Big Lots, and Walmart Supercenter. The property's current occupancy is 100%, generating a Net Operating Income (NOI) of $75,000 and a 6.00% cap rate. The densely populated trade area within a ten-mile radius encompasses 619,360 residents, and a strong daytime population of over 316,796 employees is located within five miles. The property offers immediate access to Lake Hefner Parkway (US-74), carrying over 93,000 vehicles daily. This is a rare opportunity to acquire a high-performing, low-maintenance investment with significant long-term growth potential in a thriving Oklahoma City market. The building was constructed in 2024.

Highlights

  • Brand new, 20-year ground lease with corporate guarantee from Salad and Go.
  • High visibility at signalized intersection of NW 63rd St & N May Ave (44,800 vehicles daily).
  • Densely populated trade area: 619,360 residents within a 10-mile radius of Oklahoma City MSA.
  • Lease features rental increases every five years and multiple renewal options.
  • Excellent location near national retailers including Sprouts, Home Depot, Target, Sam's Club, and more.
  • Less than 15-minute drive to Downtown Oklahoma City and the State Capitol.

Property Details for 6501 May Ave

Property type
Retail properties, Restaurants
Square Feet
1,050 SF
Year Built
2024
Lot Size (sq. ft)
15,246 SF

Location Insight

City
Oklahoma City
County
Oklahoma
State
Oklahoma
Latitude
35.5376442
Longitude
-97.5661484

FAQs

What type of property is this?
Retail property - High-yield, corporate-guaranteed QSR ground lease.
Where is the retail property located?
The property is located at 6501 May Ave Oklahoma City, OK.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Brand new, 20-year ground lease with corporate guarantee from Salad and Go.; High visibility at signalized intersection of NW 63rd St & N May Ave (44,800 vehicles daily).; Densely populated trade area: 619,360 residents within a 10-mile radius of Oklahoma City MSA.
How can I contact the broker?
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6501 May Ave
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