6825 29Th StMidwest City, OK 73110

Property Details for 6825 29Th St

Year built

1987

Construction

BRICK

Lot size

0.30 AC

Property size (Sq ft)

2,730 SF

Property type

Turn key restaurants

APN

15-025-1500

APU

150251500

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $603,078

  6.5%

  $556,687

  7%

  $516,924

• Comparable approach

  Method

  Valuation

  Relative Method

  $827,754

  Geo Method

  $827,754

• Alternative Use

  Use

  Valuation

  Residential

  $469,587

  Hospitality

  $430,139

  Educational

  $357,870

  Medical

  $370,178

  Retail

  $556,687

Location Insight

City

Midwest City

County

Oklahoma

State

Oklahoma

Latitude

35.4356

Longitude

-97.4087

CBSA code

36420

CBSA name

OKLAHOMA CITY, OK METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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