1000 W Gentry Ave 20,590 SF Retail Building Checotah, OK 74426 $2,289,485 ($111.19/SF) 6.70% Cap Rate
INVESTMENT HIGHLIGHTS
- Dedication to the site: Bealls recently exercised a new 10-year lease
- Full renovation in 2024: new storefront, HVAC, electrical, plumbing, Tenant finishes, parking lot
- 10% rental escalation in February 2030
EXECUTIVE SUMMARY
Situated next door to a Walmart Supercenter, this 20,590 square foot space is just off the busy W Gentry Ave, the main thoroughfare of Checotah, OK, seeing over 15,000 vehicles per day. Bealls just signed a new 10+ year lease, committing to the site through January 2036. There is a 10% rental escalation taking effect on February 1, 2030. Bealls has opted to retain five 5-year options, each with continuing 10% rental escalations.
The property just underwent a full renovation, including a new storefront, updated HVAC equipment, upgraded electrical and plumbing, and modern tenant finishes.
The parking lot has also been resurfaced and striped.
The lease is on a NN+ basis, whereby the majority of property expenses are paid for by Tenant
The property just underwent a full renovation, including a new storefront, updated HVAC equipment, upgraded electrical and plumbing, and modern tenant finishes.
The parking lot has also been resurfaced and striped.
The lease is on a NN+ basis, whereby the majority of property expenses are paid for by Tenant
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Retail
Building Size
20,590 SF
Building Class
C
Year Built/Renovated
1985/2024
Price
$2,289,485
Price Per SF
$111.19
Cap Rate
6.70%
NOI
$153,396
Tenancy
Single
Building Height
1 Story
Building FAR
0.24
Lot Size
1.98 AC
Opportunity Zone
Yes
Parking
104 Spaces (5.05 Spaces per 1,000 SF Leased)
AMENITIES
- Security System
- Signalized Intersection
- Air Conditioning
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 0000-32-12N-17E-3-007-00 | Improvements Assessment | $45,536 |
| Land Assessment | $38,028 | Total Assessment | $83,564 |
