Cap Rate: 5.25%
Net Operating Income: $78,000
Square Footage: 1,898
This is an absolute net leased C-Store offering in Harrah (Oklahoma City), OK. This BP 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 700-unit operator.
Harrah is a city in Oklahoma County, Oklahoma, United States, and a part of the Oklahoma City metropolitan area. Located 25 miles (40 km) east of downtown Oklahoma City, Harrah had a population of 5,095 people as of the 2010 Census.
The first settler of the area, who was Potawatomi, arrived in the 1870s, but the town was not incorporated until 1908. The town was settled by Americans, Polish immigrants and other groups and had a cotton ginning center. The city is overseen by a city council and mayor and includes a police department and fire station.