Smitty’s Garage | Tulsa OK

Retail

9718 Riverside Pkwy Tulsa OK 74137
Price:
$ 2,180,000
Property Size:
6,646 sqft
Cap Rate:
6
NOI:
$ 130,800
Lot Size:
2 acres
Units:
1
Status:
Sale

ABSOLUTE NNN – NO LANDLORD OBLIGATIONS
The subject property is operating under an absolute NNN lease with no landlord obligations whatsoever. There are over 5 years remaining on the primary lease term with four (4), five (5) year options. The lease also has rental increases in the option periods.

STRONG OPERATOR WITH 85+ LOCATIONS
Hal Smith, the operator and personal guarantor on the subject property lease, is the operator for 85 different restaurants locations, 15 different restaurant chains, in 7 different states. Other restaurants that Hal Smith operates include: Mahogany’s, Neighborhood Jam, Charleston’s, Louie’s, Toby Keith’s, and Upper Crust to name a few.

EXCEPTIONALLY WELL LOCATED WITHIN THE TULSA MARKET
The property is strategically located on Riverside Parkway in Tulsa, Oklahoma which sees over 30,000 cars per day. This subject property is surrounded by major retailers like Walmart, Kohl’s, Petco, Starbucks, and Outback. The 5-mile population from the subject property is 161,669.

STRONG RENT TO SALES
Smitty’s Garage has 20 locations throughout 4 different states. In Tulsa, there are two locations, both under the same operator. The subject property Smitty’s Garage, boasts a healthy rent-to-sales percentage of 8%.

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The information contained herein has been obtained from sources deemed reliable or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice.

Exclusive Listing

D. Andrew Ragsdale, Esq.
Senior Managing Director
918.878.9535
Ken Hedrick
Executive Managing Director
918.878.9540
Jerry Hopkins
Executive Managing Director
918.878.9536

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