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McALISTER’S DELI SALE-LEASEBACK, Stillwater, OK

McALISTER’S DELI SALE-LEASEBACK

Stillwater, OK

Price $2,637,000
Cap Rate
NOI $145,000
Lease Term 20 Years
Lease Type Absolute NNN, with Tenant Responsible for All Taxes, Insurance, Utilities, and Maintenance, Including Roof, Structure, and Parking Lot
Rental Increases 5% Rental Increases Every 5 Years
Year Built
Building Size 4,914 SF
Lot Size 1.1 Acres (47,700 SF)
Status Sold
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

Investment Highlights

LONG-TERM ABSOLUTE NNN LEASE WITH SCHEDULED RENTAL INCREASES
» 20-year sale-leaseback effective upon closing, demonstrating tenant’s long-term commitment to the location
» Leased to The Saxton Group, the largest McAlister’s Deli franchisee, with over 77 McAlister’s Deli locations
» The Saxton Group has been ranked by Restaurant Finance Monitor as one of the 100 largest franchisees of any brand in the United States
» No landlord management, ideal for an out-of-area investor
» 5% rental increases every five years, providing a hedge against inflation

TOP-PERFORMING AND HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Top-performing store with low rent-to-sales ratio
» Directly across from large shopping center tenanted by T.J. Maxx, Ulta, Old Navy, Jo Ann Fabrics, and Famous Footwear
» Notable retailers in the nearby area include Walmart Supercenter, CVS, Hobby Lobby, Lowe’s, Bed Bath & Beyond, AMC Theatres, Best Buy, Belk, Dollar Tree, and many others

ADJACENT TO OKLAHOMA STATE UNIVERSITY
» Within walking distance of Oklahoma State University (OSU), which has a total enrollment of 25,606 students
» The college is the largest employer in Stillwater, with 6,007 employees
» OSU is the region’s primary economic engine, spurring business growth, new development, and tourism in the surrounding area

CENTRAL LOCATION NEAR MAJOR COMMUNITY AMENITIES
» Close proximity to industrial parks that are home to some of the region’s largest employers, Stillwater Regional Airport, and popular recreational areas like Boomer Lake and Strickland Park


Property Description

The property is conveniently located on Hall of Fame Avenue, with excellent visibility and access to 17,310 vehicles per day directly in front of the property. Located in a dense retail corridor, the property is near several large shopping centers featuring major national tenants. The property is directly across from a retail center featuring T.J. Maxx, Ulta, Old Navy, Jo-Ann Fabrics, and Famous Footwear. Just down the street from the property, another retail center includes Hobby Lobby, Bed Bath & Beyond, Big Lots, and Hibbett Sports. Other notable retailer in the area include Walmart Supercenter, CVS, Aaron’s, Dollar General, AMC Theatres, and many more.

The property is strategically located within walking distance of Oklahoma State University, which has a total enrollment of 25,606 students. Additionally, the college is the largest employer in the region, with 6,007 employees. The property is also close to Stillwater High School, with over 1,140 students, and is less than a mile from downtown Stillwater. Also located near the property are industrial parks that are home to some of the region’s largest employers, Stillwater Regional Airport, and popular recreational areas like Boomer Lake and Strickland Park.

Contact Us About This Property

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