Cap Rate: 6.50%
Net Operating Income: $84,500
Square Footage: 4,290
This is an absolute net leased C-Store offering in Enid, OK. This Shell branded station has a new 20 year absolute NNN lease and calls for 1.75% annual increases in rent. The lease is corporately guaranteed by a leading 462-unit operator.
Enid is the ninth-largest city in the U.S. state of Oklahoma. It is the county seat of Garfield County. As of the 2010 census, the population was 49,379.
Enid was founded during the opening of the Cherokee Outlet in the Land Run of 1893, and is named after Enid, a character in Alfred, Lord Tennyson’s Idylls of the King. In 1991, the Oklahoma state legislature designated Enid the “purple martin capital of Oklahoma.” Enid holds the nickname of “Queen Wheat City” and “Wheat Capital” of Oklahoma and the United States for its immense grain storage capacity, and has the third-largest grain storage capacity in the world.