New 15 Yr Lease 5% Incr Next Walgreens 40 Mi 115 W 3rd St 14,568 SF Retail Building Elk City, OK 73644 $4,213,333 ($289.22/SF) 7.50% Cap Rate

We are pleased to market for sale the Walgreens property located at 115 West 3rd Street in Elk City, Oklahoma ("The Property"). Walgreens has been operating at this location for over 20 years and signed a new 15-year absolute net lease with no landlord responsibilities whatsoever, demonstrating their long-term commitment to the site. The lease includes 5% rental increases every 5 years in the initial term and each of the 12 (5-year) options.
This opportunity allows investors to purchase a long-term, corporate-guaranteed lease with extremely limited surrounding national drugstore competition. The nearest Walgreens property is over 40 miles away, while the next nearest CVS store is more than 74 miles from the Subject Property.
The Property is located approximately 1 mile from Great Plains Regional Medical Center, a 24-hour trauma center serving the greater Western Oklahoma and the Eastern Texas Panhandle. The Subject Property is located adjacent to Interstate 40, which connects Oklahoma City to the east and Amarillo, Texas, to the west and has over 24,000 vehicles per day. Additionally, Elk City is a central retail and trade hub for Western Oklahoma and the northeast Texas Panhandle, encompassing a 60-mile (97 km) radius that caters to over 50,000 people.
Listed in conjunction with Brian Brockman, Bang Realty, 513-898-1551, wg@bangrealty.com, OK DRE Lic. 177814