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7738-7740 US-277Elgin, OK 73538
Chisholm Corner
Asset ClassRetail
Deal Size$3.32 M
Cap Rate: 7.5%Retail SF: 6,276Year Built: 2009Access Data Room
Two Tenant Net Lease Investment Opportunity | Elgin, OK
overview of deal

Overview

MCDONALD'S

Commencement Date: 6/18/2008

Expiration Date: 6/30/2028

Lease Term Remaining: 3+ Years

Initial Lease Term: 10 Years

Options: 4 x 5-Year

Guarantor: Mcdonald's Corporate

Lease Type: Abs NNN

 

CHISHOLM CORNER

Commencement Date: COE Date

Expiration Date: 13 Years from COE

Lease Term Remaining: 13 Years

Initial Lease Term: 13 Years

Options: 4 x 5-Year

Guarantor: 7E CO Holdings (19 Units)

Lease Type: Abs NNN

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Investment Highlights

TWO TENANT ABSOLUTE TRIPLE-NET INVESTMENT OPPORTUNITY

Chisholm Corner consists of a Valero branded fuel/c-store with five fuel pumps and a net leased McDonald’s occupying the 6,276 SF subject property. The fuel/c-store lease is a brand-new 13-year absolute triple-net lease that will commence upon the close of escrow. McDonald’s, who has operated at Chisolm Corner since 2008, has three years of term remaining and four five-year options to renew.

 

EXPERIENCED GAS STATION / C-STORE OPERATOR - 7E HOLDINGS

The fuel/c-store lease is guaranteed by an operator of 19 fuel station/convenience stores throughout Oklahoma. 7E CO Holdings, acquired 19 fuel station/convenience stores in Oklahoma in December of 2022, cementing their presence into the market. Previously, the tenant operated fuel/c-store locations in Colorado, Texas, Wisconsin, and Minnesota.

 

LONG TERM OPERATING HISTORY OF MCDONALD'S

McDonald’s has operated at the subject property for over 15 years, which begun in 2008. They have proven their commitment to the site by exercising two of their six five-year options thus far. The lease is corporately guaranteed by McDonald’s.

 

TOP RANKING VALERO FUEL STATION

The Valero branded fuel station that is operated by 7E CO Holdings is the 2nd most visited Valero gas station in the state of Oklahoma (99th percentile). Nationally, the fuel station ranks in the 94th percentile of Valero branded fuel stations (Placer.ai).

 

HIGHWAY EXIT LOCATION WITH LIMITED COMPETITION

The subject property is located less than 2,000 feet from the exit and on ramps of I-44. The interstate sees over 20,000 VPD and is the primary route between Elgin and Oklahoma City (one hour drive northeast). There are two fuel stations in Elgin, OK and the subject property sees 117% more traffic than the Sunoco fuel station across the street from the subject property (Placer.ai).

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7738-7740 US-277Elgin, OK 73538
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