Absolute NNN Lease
Sale Price: $5,614,000
CAP Rate: 5.70%
Net Operating Income: $320,000
Building Size: 14,736 SF
Lot Size: 2.60 AC
Options: Tenant has Ten 5-Year Options to Renew
The subject offering is a fee simple interest in an absolute NNN leased Walgreens. There are over 18 years remaining on the initial 25 year lease, with the lease calling for zero landlord obligations. The tenant has ten 5 year options to renew. The subject property is well situated on a high traffic commercial thoroughfare surrounded by major retailers including McDonald’s, Burger King and Advance Auto Parts.
The city of Lawton is the county seat of Comanche County, in the State of Oklahoma. Located in southwestern Oklahoma, about 87 mi southwest of Oklahoma City, it is the principal city of the Lawton, Oklahoma Metropolitan Statistical Area. According to the 2010 census, Lawton’s population was 96,867, making it the fifth-largest city in the state.