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3813 E Frank Phillips BlvdBartlesville, OK 74006
Schlotzsky's
Asset ClassRetail
Deal Size$2.3 M
Cap Rate: 5.5%Lease-Term Remaining: 16 YearsAccess Data Room
Corporate Absolute NNN Lease
overview of deal

Overview

Price: $2,297,000

Cap Rate: 5.50%

Lease Term Remaining: 16.5+ Years

Year Built: 2022

Building SF: 1,850

Lease Type: Absolute NNN

Guarantor: Focus Brands, LLC (Corporate - 6,600+ Locations)

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Investment Highlights

CORPORATE ABSOLUTE TRIPLE-NET LEASE

Original 20-year absolute triple-net lease from March 2022 to March 2042 with approximately 16.8 years remaining. The lease features 1.75% annual rental increases, three five-year options, and zero landlord responsibilities. The lease is corporately guaranteed by Focus Brands, LLC.

 

FOCUS BRANDS (GOTOFOODS) FULL TERM GUARANTY – LEADING QSR OPERATOR

Focus Brands who rebranded to GoToFoods in 2024, operates seven restaurant and QSR brands with over 6,600 locations in the United States and over 60 countries worldwide. They employ over 35,000 people and generate over $3.4B in annual systemwide sales. Schlotzsky’s, one of their seven brands, has over 300 locations throughout the United States.

 

HIGHLY VISIBLE DOUBLE DRIVE-THRU QSR BUILDING

Located just off the signalized intersection of US 75 & E Frank Phillips Blvd, the subject sees over 37,000 VPD. These are thoroughfares of Bartlesville, offering easy access to downtown, surrounding retail, and neighborhoods.

 

PROXIMITY TO SYNERGISTIC TRAFFIC DRIVERS

The subject property is just east of Ascension St John Jane Phillips Medical Center which employs over 900 people and operates 81 beds. Various national retailers like Walmart, Lowe’s, Chick-fil-A, Starbucks, Hobby Lobby, Dollar Tree, and Planet Fitness are all within a one-mile radius.

 

SUPPORTING SURROUNDING DEMOGRAPHICS

Within a 3-mile radius of the subject property, 31,741 people earn an average household income of $88,008. In addition, the subject property is just 2.5 miles from downtown Bartlesville, which is home to a large corporate office of Phillips 66, employing 535 people.

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3813 E Frank Phillips BlvdBartlesville, OK 74006

Sales Team

Drew IsaacSenior Managing Director Investments(303) 328-2048drew.isaac@marcusmillichap.com
Tim SpeckOK Broker of Record

License #: 149994

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Listing provided by Revere CRE