Cap Rate: 7.55%
2020 Net Operating Income: $365,180
Year Built: 1995
This is the unique opportunity to purchase a long term absolute NNN leased On The Border restaurant in Tulsa, Oklahoma. The absolute NNN lease provides for zero landlord obligations and calls for 2% annual increases in rent. The lease is corporately guaranteed by On The Border, a strong and experienced operator with ~160 units.
Tulsa is a city on the Arkansas River, in the U.S. state of Oklahoma. It’s known for its art deco architecture, mostly in the central Deco District. Landmarks like the Philcade and Philtower buildings reflect a 20th-century construction boom fueled by the prosperous local oil industry. The Philbrook Museum of Art is housed in an Italianate villa that was once the home of a local oil magnate.