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Del Taco Ground Lease, Oklahoma City, OK

Del Taco Ground Lease

Oklahoma City, OK

Price $1,948,000
Cap Rate 4.75%
NOI $92,500
Lease Term 20 Years
Lease Type Absolute NNN Ground Lease, with Tenant Responsible for All Taxes, Insurance, and Maintenance, Including Roof, Structure, and Parking Lot
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2018
Building Size 2,457 SF
Lot Size 0.91 Acres (39,640 SF)
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Cushman and Wakefield Inc. LIC. # 00616335
This property is listed in conjunction with Oklahoma-licensed real estate broker Investment Real Estate LLC

Investment Highlights

CORPORATE GROUND LEASE WITH SCHEDULED RENTAL INCREASES
» New 20-year NNN lease with no landlord responsibilities
» 10% rental increases every five years, providing an excellent hedge against inflation
» Corporate lease to Del Taco (NASDAQ: “TACO”), the second largest Mexican-American quick service restaurant chain by units in the United States

HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Excellent visibility and access to 51,500 vehicles per day directly in front of the property on Northwest Expressway
» Surrounded by large shopping centers featuring major national retailers, including Target, Walmart Supercenter, Lowe’s, Sam’s Club, Home Depot, Hobby Lobby, Ace Hardware, Ross, PetSmart, Aldi, and many more

FULL MOVEMENT SITE – IRREPLACEABLE INFILL LOCATION
» Rare full movement site along Northwest Expressway (right-in/right-out and left-in/left-out)
» Large customer base, with 188,278 residents within five miles of the property
» Across from Wiley Post Airport, the designated reliever airport for Will Rogers World Airport, Oklahoma City’s primary airport
» Minutes from two major hospitals: INTEGRIS Baptist Medical Center (511 beds) and AllianceHealth Deaconess (291 beds)
» Close to several schools, including Hefner Middle School, with 1,042 students
» Near Lake Hefner, a popular recreational area which is visited by one million people per year

NEW 2018 CONSTRUCTION
» New 2018 construction featuring dedicated drive-thru, providing additional customer convenience and boosting sales revenue
» Built by tenant at tenant’s expense, demonstrating long-term commitment to the location

Click Here to Download Offering Memorandum


Property Description

The property is located on Northwest Expressway, with excellent visibility and access to 51,500 vehicles per day directly in front of the property. The rare full movement site along Northwest Expressway offers customers ease of access (right-in/right-out and left-in/left-out) to the property. Within walking distance of the property, North May Avenue intersects with North Rockwell Avenue, a busy thoroughfare with a traffic volume of 22,702 vehicles per day. Located in a dense retail corridor, the property is close to several large shopping centers and major national retailers. Retail centers within the property’s immediate vicinity include Rockwell Northwest, anchored by Hobby Lobby; Market Plaza, tenanted by Aldi and Ace Hardware; and Rockwell Plaza, featuring Target and PetSmart. Other notable retailers in the area include Walmart Supercenter, Sam’s Club, Home Depot, Verizon, Chuck E. Cheese’s, AutoZone, CVS, and several car dealerships.

The property is located less than ten miles from downtown Oklahoma City and is across from Wiley Post Airport, the designated reliever airport for Will Rogers World Airport. Two major hospitals—INTEGRIS Baptist Medical Center (511 beds) and AllianceHealth Deaconess (291 beds)—are located just minutes from the property, as are a number of schools, including Hefner Middle School, with 1,042 students. The property is also a short distance from Lake Hefner, a popular recreational destination that is visited by nearly one million people per year. Additionally, the property is supported by a large customer base in the surrounding area, with 188,278 people living within a five-mile radius of the property.

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