6825 29Th StMidwest City, OK 73110

For Sale
$1,670,000
Profitable Restaurant, NNN Lease, OKC Area

Overview

Added:
Dec 11, 2024
Days on market:
126
This exceptional investment opportunity presents the fee simple ownership of a 2,730 square foot restaurant in Midwest City, Oklahoma, within the Oklahoma City MSA. The property, built in 1987 and extensively renovated in 2022, boasts a prime location on SE 29th Street, a high-traffic thoroughfare averaging 25,800 vehicles daily, with convenient access to Interstate 40 (67,900 VPD). The absolute NNN lease, with zero landlord responsibilities, offers a passive investment opportunity with approximately 3 years remaining on a 10-year term (commencing November 17, 2017, expiring November 16, 2027). The current tenant, under sublease, pays a monthly rent of $8,596.33, generating a substantial NOI of $108,564 and a 6.50% cap rate. The property sits on a 0.3-acre lot with 18 parking spaces and benefits from excellent visibility due to significant street frontage and a large pylon sign. Its location within a dense retail corridor, alongside national tenants like Target, Lowe's, and Walmart, ensures strong tenant synergy and high consumer traffic. Further enhancing its appeal is its proximity to Tinker Air Force Base (26,000+ employees) and Rose State College (8,150+ students), contributing to a robust consumer base of over 120,000 residents and 48,550 employees within a 5-mile radius. The property is zoned C-3 - General Commercial Zone and features a drive-thru. The asking price is $1,670,000, translating to $611.72 per square foot. This is a truly turnkey investment opportunity with significant upside potential.

Highlights

  • 4.5 years remaining on lease term.
  • Newly remodeled building; sublease opportunity with existing surf bar tenant.
  • Absolute NNN lease; fee simple ownership; zero landlord responsibilities.
  • Excellent visibility on SE 29th St. (25,800 VPD), near I-40.
  • Located in a dense retail corridor with strong national credit tenants.
  • Proximity to Tinker Air Force Base and Rose State College (8,150+ students) provides a large consumer base within the Oklahoma City MSA.

Property Details for 6825 29Th St

Property type
Retail properties, Restaurants
Square Feet
2,730 SF
Year Built/Renovated
1987/2022
Lot Size (sq. ft)
13,068 SF

Location Insight

City
Midwest City
County
Oklahoma
State
Oklahoma
Latitude
35.4354879
Longitude
-97.408628
6825 29Th St, Midwest City, Oklahoma

FAQs

What type of property is this?
Retail property - Profitable Restaurant, NNN Lease, OKC Area
Where is the retail property located?
The property is located at 6825 29Th St Midwest City, OK.
What is the asking price?
The asking price for this property is $1,670,000.
What are key features of this property?
This property features: 4.5 years remaining on lease term.; Newly remodeled building; sublease opportunity with existing surf bar tenant.; Absolute NNN lease; fee simple ownership; zero landlord responsibilities.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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6825 29Th St
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