Miscellaneous

Stanton Optical

2550 W Main St, Norman, OK 73069

Listing Price: $2,347,500

Cap Rate
6.37%
Tenant Name
Stanton Optical
Years Remaining On Lease
9.9
Gross SF
3,650
Guarantor
Corporate Guarantee
Rentable SF
3,650
Price/Gross SF
$643.15
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$41.00

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire Stanton Optical located in Norman, Oklahoma. This listing offers a new, 10-year, triple net lease. There are two, five-year renewal options with 10 percent rent increases every five years throughout the base term and option periods. This is a brand-new location, currently under construction and recently opened. The subject property is at the signalized intersection of Main Street and 26th Street. Main Street is a major retail corridor with a daily traffic count of more than 32,800 vehicles. Stanton Optical is one half mile from Sooner Mall which is anchored by Dillard’s, JCPenney and Old Navy. Other surrounding national retailers include Home Depot, Walmart Supercenter, Lowe’s, Sam’s Club, Target, TJ Maxx, Best Buy, Aldi, PetSmart, Logan’s Roadhouse, Red Lobster, Olive Garden, Panda Express, Chick-fil-A, Panera Bread and many more. The property is located directly off Interstate 35 which is the major roadway running through the area with more than 69,800 vehicles daily. And is less than three miles from the University of Oklahoma, with an enrollment of more than 34,000 students and faculty. Norman, Oklahoma is 19 miles South of Oklahoma City, the state’s capital city and the most populous city in the state with 647,000 million residents. The metro is expected to add 76,000 people over the next five years. The major employers include the State of Oklahoma, Tinker Air Force Base and the FAA Mike Monroney Aeronautical Center.

Investment Highlights

  • Less Than Three Miles from The University of Oklahoma, With an Enrollment of More Than 34,000 Students and Faculty
  • New, 10-Year, Absolute Triple Net (NNN) Lease
  • Two, Five-Year Renewal Options, Bringing Total Term to 20 Years; 10 Percent Rent Increases Every Five Years Throughout Base Term and Option Periods
  • Brand New Location, Recently Opened
  • One Half Mile from Sooner Mall, Anchored by Dillard's, JCPenney and Old Navy
  • Other Surrounding National Retailers Include Home Depot, Walmart Supercenter, Lowe's, Sam's Club, Target, TJ Maxx, Best Buy, Aldi, PetSmart, Hobby Lobby, Logan's Roadhouse, Red Lobster, Olive Garden, BJ's Restaurant & Brewhouse, Panda Express, Chick-fil-A, Panera Bread and Many More

Exclusively Listed By

Broker of Record

  • Mark R. McCoy

    Regional Manager

    License(s): OK: 181981

    Oklahoma

Listing Price: $2,347,500

Cap Rate
6.37%
Tenant Name
Stanton Optical
Years Remaining On Lease
9.9
Gross SF
3,650
Guarantor
Corporate Guarantee
Rentable SF
3,650
Price/Gross SF
$643.15
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$41.00

Investment Highlights

  • Less Than Three Miles from The University of Oklahoma, With an Enrollment of More Than 34,000 Students and Faculty
  • New, 10-Year, Absolute Triple Net (NNN) Lease
  • Two, Five-Year Renewal Options, Bringing Total Term to 20 Years; 10 Percent Rent Increases Every Five Years Throughout Base Term and Option Periods
  • Brand New Location, Recently Opened
  • One Half Mile from Sooner Mall, Anchored by Dillard's, JCPenney and Old Navy
  • Other Surrounding National Retailers Include Home Depot, Walmart Supercenter, Lowe's, Sam's Club, Target, TJ Maxx, Best Buy, Aldi, PetSmart, Hobby Lobby, Logan's Roadhouse, Red Lobster, Olive Garden, BJ's Restaurant & Brewhouse, Panda Express, Chick-fil-A, Panera Bread and Many More

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire Stanton Optical located in Norman, Oklahoma. This listing offers a new, 10-year, triple net lease. There are two, five-year renewal options with 10 percent rent increases every five years throughout the base term and option periods. This is a brand-new location, currently under construction and recently opened. The subject property is at the signalized intersection of Main Street and 26th Street. Main Street is a major retail corridor with a daily traffic count of more than 32,800 vehicles. Stanton Optical is one half mile from Sooner Mall which is anchored by Dillard’s, JCPenney and Old Navy. Other surrounding national retailers include Home Depot, Walmart Supercenter, Lowe’s, Sam’s Club, Target, TJ Maxx, Best Buy, Aldi, PetSmart, Logan’s Roadhouse, Red Lobster, Olive Garden, Panda Express, Chick-fil-A, Panera Bread and many more. The property is located directly off Interstate 35 which is the major roadway running through the area with more than 69,800 vehicles daily. And is less than three miles from the University of Oklahoma, with an enrollment of more than 34,000 students and faculty. Norman, Oklahoma is 19 miles South of Oklahoma City, the state’s capital city and the most populous city in the state with 647,000 million residents. The metro is expected to add 76,000 people over the next five years. The major employers include the State of Oklahoma, Tinker Air Force Base and the FAA Mike Monroney Aeronautical Center.

Exclusively Listed By

Broker of Record

  • Mark R. McCoy

    Regional Manager

    License(s): OK: 181981

    Oklahoma

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