2916 59Th StOklahoma City, OK 73119

Property Details for 2916 59Th St

Year built

1969

Construction

BRICK

Lot size

0.57 AC

Property size (Sq ft)

3,266 SF

Property type

Turn key restaurants

APN

14-083-1205

APU

140831205

Description

This fee-simple restaurant property at 2916 SW 59th St, Oklahoma City, OK 73119, offers a compelling investment opportunity. The 3,266 square foot building is currently leased to Las Palmas LLC under an Absolute NNN lease with a remaining term of five years, expiring March 7, 2029. The lease includes a 3.5% annual rent bump. The property boasts a strong 7.20% cap rate and a Net Operating Income (NOI) of $72,000, resulting in a price per square foot of $306.18. Its prime location on SW 59th Street, adjacent to a hard corner with high traffic volume (over 35,000 vehicles per day), offers excellent visibility and accessibility. The property benefits from its proximity to major roadways, including I-44 (120,000 vehicles per day), and is situated near numerous national retailers such as Casey's, Subway, AutoZone, Planet Fitness, and Family Dollar. Furthermore, its location is less than 10 minutes from Will Rogers International Airport, an Amazon warehouse, and Oklahoma City Community College (19,688 students), ensuring a robust and growing customer base. Across the street is a newly constructed $6,600,000 Almonte Library. This property presents a rare opportunity to acquire a well-located, high-performing restaurant investment in a thriving Oklahoma City market.

Location Insight

City

Oklahoma City

County

Oklahoma

State

Oklahoma

Latitude

35.4058

Longitude

-97.5665

CBSA code

36420

CBSA name

OKLAHOMA CITY, OK METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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