Property Name

Starbucks - Norman, OK

Price
$
2,318,000
NOI
$
139,100
Occupancy
100
%
Cap Rate
6.00
%
GLA
1,525 SF
Lease Type
Absolute NNN Lease
Year Built
2022
Description

SHOP Companies is pleased to offer the opportunity to acquire a single-tenant Starbucks investment located at 3725 N Flood Ave in Norman, Oklahoma, positioned on the “going-to-work” side of Flood Avenue, the primary corridor connecting Norman commuters to northbound I-35 and the Oklahoma City metro. Built in 2022, the Property is a 1,525-square-foot, drive-thru-only building situated on a 0.54-acre site, reflecting the smaller-footprint, drive-thru-focused prototype Starbucks is prioritizing nationally to lower construction costs and unlock expansion in high-growth suburban markets. The Property is subject to a NN lease, with landlord responsibility limited to roof and structure, and features five years remaining on the initial lease term at an annual rent of $139,100.