Cap Rate: 7.25%
Net Operating Income: $54,000
Square Footage: 2,400
Lot Size: 0.39 AC
This is an absolute net leased C-Store offering in New Castle, Oklahoma. This Shell branded station has a new 20 year absolute NNN lease and calls for 2% annual increases in rent. The lease is corporately guaranteed by a leading 462-unit operator.
Newcastle is a city in McClain County, Oklahoma, United States, and part of the Oklahoma City Metropolitan Area. The population was 7,685 at the 2010 census.
Newcastle is considered to be part of a rapidly growing area of northern McClain and Grady counties. Newcastle also is a part of an area known as the “Tri-City Area” with Tuttle and Blanchard. Newcastle also serves as the largest incorporated community in McClain County.
In January 2019, Newcastle was ranked 36th “Best City to Live” in the United States by 24/7 Wall St., which created a weighted index of over two dozen measures to identify the best city to live in each state.