506 George Nigh ExpyMcAlester, OK 74501

For Sale
$1,600,000
High-yield NNN lease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
126
This exceptional investment opportunity presents a brand-new, 1,421 square foot Take 5 Oil Change located in McAlester, Oklahoma. The property sits on a 0.34-acre lot at 506 S George Nigh Expy, 74501. Built in 2023, this single-tenant retail building is currently operating at 100% occupancy under a 20-year triple-net (NNN) lease with a strong corporate guarantor, Driven Funding Holdco, LLC (approximately 3,500 units). The lease features a substantial annual rent of $100,000, providing a 6.25% cap rate. Annual rental increases of 1.5% are built into the lease throughout the initial 20-year term and extend into four, five-year renewal options. The NNN lease structure ensures minimal landlord responsibilities, making this a low-maintenance, high-return investment. This property offers a secure, long-term investment with significant upside potential due to the established tenant and favorable lease terms. The property's prime location and the strength of the corporate guarantee further enhance its attractiveness to discerning investors. This is a rare opportunity to acquire a high-performing, passively managed asset with exceptional long-term growth prospects.

Highlights

  • $1,600,000 asking price for a 1,421 SF Take 5 Oil Change in McAlester, OK.
  • 20-year NNN lease with no landlord responsibilities.
  • 1.5% annual rent increases for the 20-year base term and four, five-year renewal options.
  • Strong corporate guarantee from Driven Funding Holdco, LLC (approx. 3,500 units).

Property Details for 506 George Nigh Expy

Property type
Retail properties, Auto shops
Square Feet
1,421 SF
Year Built
2023
Lot Size (sq. ft)
14,810 SF

Location Insight

City
McAlester
County
Pittsburg
State
Oklahoma
Latitude
34.9177134
Longitude
-95.7444617
506 George Nigh Expy, McAlester, Oklahoma

FAQs

What type of property is this?
Retail property - High-yield NNN lease, strong tenant.
Where is the retail property located?
The property is located at 506 George Nigh Expy McAlester, OK.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: $1,600,000 asking price for a 1,421 SF Take 5 Oil Change in McAlester, OK.; 20-year NNN lease with no landlord responsibilities.; 1.5% annual rent increases for the 20-year base term and four, five-year renewal options.
How can I contact the broker?
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506 George Nigh Expy
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