607 Fir StPerry, OK 73077

Property Details for 607 Fir St

Year built

1935

Lot size

0.75 AC

Property size (Sq ft)

11,058 SF

Property type

Outlet malls

APN

1220-00-064-025-0-001-00

APU

122000064025000100

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $2,638,838

  6.5%

  $2,435,851

  7%

  $2,261,861

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,352,856

  Geo Method

  $3,352,856

• Alternative Use

  Use

  Valuation

  Residential

  $2,054,731

  Hospitality

  $1,882,123

  Educational

  $1,565,904

  Medical

  $1,619,758

  Retail

  $2,435,851

Location Insight

City

Perry

County

Noble

State

Oklahoma

Latitude

36.29

Longitude

-97.2867

Property Tax & Assessments

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