For Sale
$1,413,000

400 Conner Ave Fairland, OK 74343

Oklahoma Retail Property, Strong NOI

Overview

Added:
Dec 11, 2024
Days on market:
133
This exceptional investment opportunity presents a fee-simple, single-tenant retail property fully leased to Dollar General in Fairland, Oklahoma. The 9,002 square-foot building, constructed in 2021 on a 2-acre lot, operates under a 15-year absolute NNN lease with five 5-year renewal options, each including a 10% rent increase. The lease commenced April 30, 2021, and has a remaining term of approximately 11.4 years. The property boasts a strong 6.35% cap rate and a substantial net operating income (NOI) of $89,698. The tenant, Dollar General, provides a corporate guarantee, minimizing landlord responsibilities. This build-to-suit property offers a secure, long-term investment with significant upside potential due to the built-in rent escalations. Located at 400 W Conner Ave, Fairland, OK 74343, this property represents a compelling addition to any diversified portfolio. The asking price is $1,413,000, translating to a price per square foot of $156.97. This is a rare opportunity to acquire a high-quality, passively managed retail investment with a blue-chip tenant and a proven track record.

Highlights

  • Absolute NNN lease; no landlord responsibilities.
  • Favorable rent escalations in lease options.
  • Investment-grade tenant in place.
  • Property built to tenant specifications.
  • Long-term lease with 15-year initial term.

Property Details for 400 Conner Ave

Property type
Retail properties, Grocery and convenience stores
Square Feet
9,002 SF
Year Built
2021
Lot Size (sq. ft)
87,120 SF

Location Insight

City
Fairland
County
Ottawa
State
Oklahoma
Latitude
36.748705570589
Longitude
-94.852747411159

FAQs

What type of property is this?
Retail property - Oklahoma Retail Property, Strong NOI
Where is the retail property located?
The property is located at 400 Conner Ave Fairland, OK.
What is the asking price?
The asking price for this property is $1,413,000.
What are key features of this property?
This property features: Absolute NNN lease; no landlord responsibilities.; Favorable rent escalations in lease options.; Investment-grade tenant in place.
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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400 Conner Ave
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