1051 Westside DrDurant, OK 74701

Property Details for 1051 Westside Dr

Year built

2018

Property size (Sq ft)

3,116 SF

Property type

Drive through restaurants

APN

A098-00-000-00C-0-000-00

APU

A0980000000C000000

Description

This exceptional investment opportunity presents a 3,123 square foot Freddy's restaurant located at 1051 Westside Dr, Durant, OK 74701. The property sits on a one-acre lot with excellent visibility and access on Westside Drive, just west of US-75, boasting traffic counts exceeding 30,500 cars per day. The property features a single-story building constructed in 2018, operating under a 20-year Absolute NNN lease with 19 years remaining. The lease includes attractive 7% rent bumps every five years and two five-year renewal options, ensuring long-term stability. The tenant, Ram-Z Custard, LLC, is a significant franchisee, operating 33 Freddy's locations (7th largest in the US) and 34 Schlotzsky's locations (largest in the US). This financially strong tenant provides a high degree of confidence in lease performance. The property's Net Operating Income (NOI) is $130,000, resulting in a 6.75% cap rate. The asking price is $1,926,000. The property is zoned C and benefits from a prime location near major retailers, including Walmart, Lowe's, and numerous dining establishments. Its proximity to Southern Oklahoma State University and AllianceHealth Durant further enhances its desirability. This is a fee-simple ownership opportunity (building and land). The property's strong tenant, favorable lease terms, and strategic location make it an ideal addition to any investment portfolio.

• CAP approach

  CAP return

  Valuation

  6%

  $1,147,734

  6.5%

  $1,059,447

  7%

  $983,772

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,239,640

  Geo Method

  $944,791

• Alternative Use

  Use

  Valuation

  Residential

  $893,683

  Hospitality

  $818,609

  Educational

  $681,073

  Medical

  $704,496

  Retail

  $1,059,447

Location Insight

City

Durant

County

Bryan

State

Oklahoma

Latitude

34.0076

Longitude

-96.3994

CBSA code

20460

CBSA name

DURANT, OK MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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