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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
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
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)
AMENITIES
- Restaurant
TRAFFIC
| COLLECTION STREET | CROSS STREET | TRAFFIC VOLUME | YEAR | Distance |
|---|---|---|---|---|
| West Bradford Avenue | - | 644 | 2024 | 0.20 mi |
| North Willard Street | - | 1,200 | 2024 | 0.30 mi |
| West Wayne Avenue | - | 904 | 2024 | 0.31 mi |
| East A Street | - | 2,516 | 2023 | 0.40 mi |
| West A Street | - | 680 | 2024 | 0.42 mi |
| North Forrest Street | - | 664 | 2023 | 0.58 mi |
| Lee Drive | - | 960 | 2024 | 0.59 mi |
| North Spurgeon Street | - | 480 | 2024 | 0.59 mi |
| North Thomas Street | - | 986 | 2023 | 0.70 mi |
| North Navajoe Street | - | 3,269 | 2024 | 0.70 mi |
Walk Score®
Very Walkable (70)
NEARBY MAJOR RETAILERS
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 |
PROPERTY TAXES
Parcel Number
0010-00-009-005-0-001-00
Land Assessment
$4,680 (2024)
Improvements Assessment
$10,791 (2024)
Total Assessment
$15,471 (2024)
Annual Taxes
$1,350 ($0.46/SF)
Tax Year
2022
MAP
ADDITIONAL PHOTOS
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