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Altus Restaurant w/ Tenant Income! 1221 N Grady St 2,948 SF 100% Leased Retail Building Altus, OK 73521 $390,000 ($132.29/SF) 6.53% Cap Rate

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INVESTMENT HIGHLIGHTS

Income Producing

EXECUTIVE SUMMARY

Building and land for sale. Currently an established Mexican Restaurant, Chavez Mexican restaurant operating in building generating rental income of $2,400 per month.

FINANCIAL SUMMARY (ACTUAL - 2022)	ANNUAL	ANNUAL PER SF
Gross Rental Income	$28,800	$9.77
Other Income	-	-
Vacancy Loss	-	-
Effective Gross Income	$28,800	$9.77
Taxes	$1,350	$0.46
Operating Expenses	$2,000	$0.68
Total Expenses	$3,350	$1.14
Net Operating Income	$25,450	$8.63

FINANCIAL SUMMARY (ACTUAL - 2022)

Gross Rental Income
Annual	$28,800
Annual Per SF	$9.77

Other Income
Annual	-
Annual Per SF	-

Vacancy Loss
Annual	-
Annual Per SF	-

Effective Gross Income
Annual	$28,800
Annual Per SF	$9.77

Taxes
Annual	$1,350
Annual Per SF	$0.46

Operating Expenses
Annual	$2,000
Annual Per SF	$0.68

Total Expenses
Annual	$3,350
Annual Per SF	$1.14

Net Operating Income
Annual	$25,450
Annual Per SF	$8.63

PROPERTY FACTS

Sale Type

Investment

Sale Condition

High Vacancy Property

Property Type

Retail

Property Subtype

Restaurant

Building Size

2,948 SF

Year Built/Renovated

1960/2014

Price

$390,000

Price Per SF

$132.29

Cap Rate

6.53%

NOI

$25,450

Percent Leased

100%

Building Height

1 Story

Building FAR

0.14

Lot Size

0.47 AC

Zoning

C - Commercial - Restaurant

Parking

38 Spaces (12.89 Spaces per 1,000 SF Leased)

Restaurant

PROPERTY TAXES

Parcel Number	0010-00-009-005-0-001-00	Total Assessment	$15,471 (2024)
Land Assessment	$4,680 (2024)	Annual Taxes	$1,350 ($0.46/SF)
Improvements Assessment	$10,791 (2024)	Tax Year	2022