Norman, OK - Dairy Queen

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Dairy Queen investment property located in Norman, Oklahoma. The tenant, Dairy Queen, has 12 years of lease term remaining with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.

The Dairy Queen is located less than a mile from the intersection of Interstate 35 and W Main Street which combine to average over 120,300 vehicles passing by daily. West Main Street serves as a major retail corridor serving the city of Norman. The asset is located approximately 1 mile from Sooner Mall, with major tenants including Dillard’s, JCPenney, Old Navy, LongHorn Steakhouse, and many others. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Walmart Supercenter, Sam’s Club, Lowe’s, Sprouts, Best Buy, Chick-fil-A, Dutch Bros, Panera Bread, and more, further increasing consumer traffic to the site. The subject property is located 2 miles from the University of Oklahoma, which is home to a student population of over 29,000. Additionally, the site is located less than a mile from Norman High School (2,100+ students). The 5-mile trade area is supported by a population of over 121,900 residents and 85,300 employees with an average household income of $93,026.

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Listing ID: a28TP000001Zfe1YAC