Midwest City, OK - Surf Bar

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, drive-thru equipped, newly-remodeled Surf Bar investment property located in Midwest City, Oklahoma (Oklahoma City MSA). The tenant, Johnnie’s Group, LLC has approximately 4.5 years remaining on its current lease term. The lease is absolute NNN with zero landlord responsibilities, making this an ideal, management-free investment opportunity for a passive investor. Jones Boys Enterprise, LLC (dba Surf Bar) currently occupies the building as a subtenant, paying monthly rent in the amount of $8,596.33 from 8/1/2022 to 11/30/2028.

The subject property is strategically located along SE 29th Street, which averages 25,800 vehicles passing by daily, and benefits from nearby direct on/off ramp access to Interstate 40, a major cross-country interstate serving 67,900 vehicles per day. The site benefits from excellent visibility via significant street frontage and a large pylon sign. The property is ideally situated within a dense retail corridor featuring national/credit tenants including Target, Lowe’s, Sam’s Club, Walmart Supercenter, Home Depot, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The building is located within close proximity to Tinker Air Force Base, which employs more than 26,000 military personnel and civilian employees, as well as Rose State College (8,150 students), further increasing consumer traffic to the site. The 5-mile trade area is supported by more than 120,000 residents and 48,550 employees, providing a direct consumer base from which to draw. Midwest City, OK is located approximately 7 miles from downtown Oklahoma City, the largest city in the state.