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McAlister’s Deli, Enid, OK

McAlister’s Deli

OK, United States

Price $2,568,800
Cap Rate
NOI
Lease Term 20 Years
Lease Type
Rental Increases 8% Rental Increases Every 5 Years
Year Built 2016
Building Size 3,900 SF
Lot Size 1.06 Acres (46,174 SF)
Status Sold
Lead Broker Information Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Investment Highlights

LONG TERM NNN LEASE WITH SCHEDULED RENTAL INCREASES
» 20-year initial lease term
» Lease guaranteed by The Saxton Group, the largest McAlister’s Deli franchisee, with over 73 McAlister’s Deli locations
» No landlord management, creating the ideal investment for an out-of-area investor
» Fixed rental increases of 8% every five years during initial term and option periods, providing a hedge against inflation

STRONG PERFORMING RESTAURANT LOCATED AT HIGH-TRAFFIC INTERSECTION
» High restaurant sales, resulting in low, attractive rent-to-sales ratio
» Excellent access and visibility to 27,400 vehicles per day on West Owen K. Garriott Road, Enid’s primary retail corridor
» Surrounded by major national tenants, including Walmart Supercenter, Lowe’s, Hobby Lobby, CVS, and many others

DOWNTOWN LOCATION NEAR MAJOR SCHOOLS, HOSPITALS, AND EMPLOYERS
» Within walking distance of Enid’s largest high school (1,815 students) and near Northwestern Oklahoma State University (2,300 students), Northern Oklahoma College (1,200 students), and Autry Technology Center (35,337 total enrollments)
» Close proximity to the 207-bed Integris Bass Baptist Health Center and the 229- bed St. Mary’s Regional Medical Center
» Near Vance Air Force Base, the region’s largest employer, with 2,699 employees
» Close to Enid’s industrial region and several of the area’s largest employers, including AdvancePierre Foods (2,200 employees), Marsau Enterprises (600 employees), and Koch Fertilizer (270 employees once $1.3 billion plant expansion is completed)

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is located on West Owen K. Garriott Road, Enid’s busiest thoroughfare, with excellent visibility and access to 27,400 vehicles per day. West Owen K. Garriott Road is Enid’s primary retail corridor, and the property is near several large shopping plazas and major national retailers. Sunset Plaza, anchored by Hobby Lobby and Ross, is within walking distance of the property. Other notable retailers located near the property include Walmart Supercenter, Lowe’s, Aaron’s, Hibbett Sports, AutoZone, Walgreens, CVS, Old Navy, Academy Sports + Outdoors, Ulta, Anytime Fitness, PetSmart, Family Dollar, McDonald’s, and many others.

The property is centrally located just one mile from downtown Enid, close to several schools, hospitals, and major employers. Enid’s largest high school, Enid High School, is just over half a mile away and has a total enrollment of 1,815 students. Autry Technology Center is less than two miles from the property. Autry is a popular vocational school, with 35,337 total enrollments for the 2014-2015 school year. Other nearby schools include Northwestern Oklahoma State University, with more than 2,300 students, and Northern Oklahoma College, with 1,200 students. Two large hospitals are also located near the property: the 207-bed Integris Bass Baptist Health Center and the 229-bed St. Mary’s Regional Medical Center. Both hospitals are among the largest employers in Enid. The city’s largest employer, Vance Air Force Base, is located three miles south of the property and employs 2,699 people. The property is also near Enid’s industrial region, which houses the operations of other major employers, including AdvancePierre Foods (2,200 employees) and Marsau Enterprises (600 employees).

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