6017 Reno AveOklahoma City, OK 73127

Property Details for 6017 Reno Ave

Year built

2015

Construction

WOOD FRAME

Lot size

0.88 AC

Property size (Sq ft)

3,776 SF

Property type

Turn key restaurants

APN

14-801-8063

APU

148018063

Description

This exceptional investment opportunity presents a newly renovated (2024) Dairy Queen located at 6017 W Reno Ave, Oklahoma City, OK 73127. The property boasts a 3,871 square foot building on a 0.88-acre lot, operating under a 20-year absolute NNN lease commencing November 1, 2024, and expiring October 31, 2044. The lease includes four 5-year renewal options, each with a 10% rent increase. The current annual net operating income (NOI) is $147,500, representing a 5.75% capitalization rate on the $2,565,217 asking price ($662.68/sq ft). The property benefits from a prime location in a dense retail corridor with high traffic volume (43,000+ vehicles per day) and proximity to major retailers like Walmart, Hobby Lobby, and Home Depot. The franchisee, DND Group, operates over 60 units across five brands, demonstrating significant experience and operational expertise. Built in 2015, this Dairy Queen enjoys 100% occupancy and benefits from a strong demographic profile, with over 178,100 residents within a 5-mile radius and nearly 50% population growth over the past decade. The property's strong tenant, long-term lease, and favorable location make it an attractive investment opportunity with significant potential for future returns. The 10% rent bumps every five years provide built-in appreciation throughout the lease term and options. This is a single-tenant, single-building property.

• CAP approach

  CAP return

  Valuation

  6%

  $710,608

  6.5%

  $655,946

  7%

  $609,092

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,144,907

  Geo Method

  $1,144,907

• Alternative Use

  Use

  Valuation

  Residential

  $553,315

  Hospitality

  $506,833

  Educational

  $421,679

  Medical

  $436,181

  Retail

  $655,946

Location Insight

City

Oklahoma City

County

Oklahoma

State

Oklahoma

Latitude

35.4648

Longitude

-97.6212

CBSA code

36420

CBSA name

OKLAHOMA CITY, OK METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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