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Restaurant

Andy's Frozen Custard | Strong Growth Tulsa Suburb | 12% Population Growth | Central Retail Corridor

11502 E 96th St N, Owasso, OK 74055

Listing Price: $3,181,800

Cap Rate
5.50%
Tenant Name
Andy's Frozen Custard
Years Remaining On Lease
20.2
Gross SF
1,500
Guarantor
Franchisee Guarantee
Rentable SF
1,500
Price/Gross SF
$2,121.20
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$116.67

Investment Overview

Founded in 1986 in Osage Beach, Missouri, Andy's Frozen Custard is a quick-service frozen dessert brand. The company operates out of freestanding restaurants with drive-thru and walk-up service windows. Founded in 2016, Ranchers Custard Company (RCC) is a franchisee that focuses on operating Andy’s in Oklahoma, Texas & Florida. Including the subject property, RCC operates a total of 15 Andy’s Locations, with two more under construction and plans to open five-10 more in the next two years. Located in Oklahoma's Rogers and Tulsa Counties, Owasso is the largest northern suburb of Tulsa. The city's estimated population in 2021 was 38,732 residents. Owasso is one of the fastest-growing cities in Oklahoma and is a major contributor to the Greater Tulsa economy. The city has earned several awards and accolades over the years for its safety, affordability, job opportunities, and economic growth.

Investment Highlights

  • Brand New 20-Year Absolute Triple-Net (NNN) Lease
  • 1.5 Percent Rental Increases Occurring Annually
  • Personal and Franchise Guaranty by a 15-Unit Operator
  • New High-Quality 2022 Construction with a Drive-Thru
  • Central Location in Owasso's Primary Retail Corridor - Notable Tenants Include Walmart, Sam's Club, Target, Lowe's, JCPenney, and Best Buy
  • 15 Unit Operator with Two More Under Construction and Five – 10 More Planned Over the Next Two Years
  • Rapidly Growing Location Within the Tulsa MSA - Households and Population Projected to Increase Between 11-12 Percent in the Immediate Area by 2026
  • Over 30,600 Cars per Day at the Corner of North Garrett Road and East 96th Street North

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (918) 294-6300

    License(s) OK: 149994

    Oklahoma

Financing By

Restaurant

Andy's Frozen Custard | Strong Growth Tulsa Suburb | 12% Population Growth | Central Retail Corridor

Listing Price: $3,181,800

Cap Rate
5.50%
Tenant Name
Andy's Frozen Custard
Years Remaining On Lease
20.2
Gross SF
1,500
Guarantor
Franchisee Guarantee
Rentable SF
1,500
Price/Gross SF
$2,121.20
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$116.67

Investment Highlights

  • Brand New 20-Year Absolute Triple-Net (NNN) Lease
  • 1.5 Percent Rental Increases Occurring Annually
  • Personal and Franchise Guaranty by a 15-Unit Operator
  • New High-Quality 2022 Construction with a Drive-Thru
  • Central Location in Owasso's Primary Retail Corridor - Notable Tenants Include Walmart, Sam's Club, Target, Lowe's, JCPenney, and Best Buy
  • 15 Unit Operator with Two More Under Construction and Five – 10 More Planned Over the Next Two Years
  • Rapidly Growing Location Within the Tulsa MSA - Households and Population Projected to Increase Between 11-12 Percent in the Immediate Area by 2026
  • Over 30,600 Cars per Day at the Corner of North Garrett Road and East 96th Street North

Investment Overview

Founded in 1986 in Osage Beach, Missouri, Andy's Frozen Custard is a quick-service frozen dessert brand. The company operates out of freestanding restaurants with drive-thru and walk-up service windows. Founded in 2016, Ranchers Custard Company (RCC) is a franchisee that focuses on operating Andy’s in Oklahoma, Texas & Florida. Including the subject property, RCC operates a total of 15 Andy’s Locations, with two more under construction and plans to open five-10 more in the next two years. Located in Oklahoma's Rogers and Tulsa Counties, Owasso is the largest northern suburb of Tulsa. The city's estimated population in 2021 was 38,732 residents. Owasso is one of the fastest-growing cities in Oklahoma and is a major contributor to the Greater Tulsa economy. The city has earned several awards and accolades over the years for its safety, affordability, job opportunities, and economic growth.

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (918) 294-6300

    License(s): OK: 149994

    Oklahoma

Financing By

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