Net Leased C-Store in Oklahoma Sold

The Boulder Group, a net leased investment brokerage firm, completed the sale of a net leased Chisholm Corner convenience store located at 719 US-81 in Duncan, Oklahoma for $1,350,000.

The property benefits from its location along US-81 (19,100 vehicles per day). The surrounding area has a population of 32,998 people within a ten-mile radius, with an average household income of $79,834.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer in the transaction. The buyer is a Louisiana-based private investor and the seller is a commercial real estate acquisition and development firm located in Texas.

The lease is absolute 15-year net lease with 13 years of lease term remaining. The lease contains 10% rental escalations every 5 years and has four 5-year renewal options. The property has excellent sales and had a rent-to-sales ratio below 4.5% in 2023.

The lease is corporately guaranteed by a 79-unit division of Monfort Companies. Chisholm Corner is a 19-store convenience store chain located in southwest Oklahoma and north-central Texas.

“Gas station properties rank among the top net lease investments for investors seeking to leverage bonus depreciation benefits” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman of The Boulder Group, added, “Gas station properties featuring long lease terms with significant rent increases continue to garner substantial interest from private investors.”

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