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Starbucks 14307 NE 23rd St 2,089 SF Retail Building Choctaw, OK 73020 $2,656,388 CAD ($1,271.61 CAD/SF) 5.50% Cap Rate
Investment Highlights
- Single-tenant retail pad building occupied by Starbucks Corporation on a corporate guaranteed lease
- Current Base Rent (Years 6–10): $107,800 per year ($51.60/SF on 2,089 SF) / Prior Rent Step (Years 1–5): $98,000 per year
- Approximately 5 years on the initial 10-year term (Years 6–10) at the current rent of $107,800 (as of marketing).
- NNN lease agreement – Tenant pays its pro-rata share of CAM, real estate taxes and insurance
- Four (4) five-year options with fixed increases in each option period
- 10-Year initial lease term
Executive Summary
Starbucks’ modern prototype, featuring a dedicated drive-thru lane, patio seating area, 22 striped surface parking spaces, an on-site trash enclosure, and both monument and pylon signage along NE 23rd Street. The well located, high visibility pad site benefits from shared access and joint parking rights within The Markets at Choctaw, a Walmart-anchored regional shopping center at the signalized intersection of NE 23rd Street & Market Boulevard.
Situated east of downtown Oklahoma City, within the growing Choctaw submarket. The site draws from residential communities in Choctaw, Harrah and eastern Oklahoma County, as well as commuters traveling along Highway 62. Surrounding retailers include Walmart Supercenter, national fast-food and QSR brands, grocery, fuel, and daily-needs retail, creating a strong regional draw. Starbucks benefits from both destination traffic to the center and drive-by trips along NE 23rd Street.
Situated east of downtown Oklahoma City, within the growing Choctaw submarket. The site draws from residential communities in Choctaw, Harrah and eastern Oklahoma County, as well as commuters traveling along Highway 62. Surrounding retailers include Walmart Supercenter, national fast-food and QSR brands, grocery, fuel, and daily-needs retail, creating a strong regional draw. Starbucks benefits from both destination traffic to the center and drive-by trips along NE 23rd Street.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
2,089 SF
Building Class
B
Year Built
2020
Price
$2,656,388 CAD
Price Per SF
$1,271.61 CAD
Cap Rate
5.50%
NOI
$146,101 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
0.65 AC
Zoning
COMMER0001
Parking
46 Spaces (22.02 Spaces per 1,000 SF Leased)
Amenities
- Drive Thru
Nearby Major Retailers
Property Taxes
| Parcel Number | 214581005 | Improvements Assessment | $228,453 CAD |
| Land Assessment | $59,284 CAD | Total Assessment | $287,737 CAD |
Property Taxes
Parcel Number
214581005
Land Assessment
$59,284 CAD
Improvements Assessment
$228,453 CAD
Total Assessment
$287,737 CAD
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Starbucks | 14307 NE 23rd St
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