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Marcus & Millichap is pleased to exclusively offer for sale the Dollar General located at 1900 N Milt Phillips Ave. in Seminole, Oklahoma. The investment is being offered at $536,000 which represents an 8.25% cap rate.
The 8,125 square foot building is in the heart of Seminole, Oklahoma. The double net lease has 4.1 years remaining due to Dollar General exercising their final option to renew which increased their rent by 10%. Landlord responsibilities are limited to roof, structure, and CAM with the tenant responsible for costs of minor repairs up to $500 per occurrence. Tenant supplies $250 per month as sole contribution towards CAM.
Seminole is located one hour from Oklahoma City, OK. The subject property is located on Highway 377 which has a traffic count of over 12,000 vehicles per day, the property is surrounded by a variety of national retail tenants and strategically positioned on a corner lot next to a housing subdivision. There are over 2,900 residents with in 1 mile of the Dollar General, and Seminole County is home to over 15,000 Seminoles of Oklahoma.
| Month | Payment | Principal | Interest | Total Interest | Balance |
|---|---|---|---|---|---|
| $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.
| Total Population | 2,867 | 7,129 | 9,195 | |
| Population Median Age | 36 | 36 | 37 | |
| Population by Age | 0-9 Yrs | 457 (15%) | 1098 (15%) | 1321 (14%) |
| 10-19 Yrs | 406 (14%) | 1064 (14%) | 1412 (15%) | |
| 20-29 Yrs | 438 (15%) | 985 (13%) | 1210 (13%) | |
| 30-39 Yrs | 373 (13%) | 940 (13%) | 1151 (12%) | |
| 40-49 Yrs | 301 (10%) | 759 (10%) | 1012 (11%) | |
| 50-59 Yrs | 346 (12%) | 802 (11%) | 1064 (11%) | |
| 60-69 Yrs | 309 (10%) | 782 (10%) | 1066 (11%) | |
| 70+ Yrs | 236 (8%) | 699 (9%) | 960 (10%) | |
| Median HH Income | $38,850 | $36,264 | $37,628 | |
| Total Household Income | < 24K | 339 (31%) | 940 (35%) | 1167 (33%) |
| 25-49K | 337 (30%) | 780 (29%) | 956 (27%) | |
| 50-74K | 180 (16%) | 478 (17%) | 652 (18%) | |
| 75-99K | 100 (9%) | 229 (8%) | 312 (9%) | |
| 100-199K | 121 (11%) | 218 (8%) | 308 (8%) | |
| 200K+ | 16 (1%) | 33 (1%) | 46 (1%) | |
| Highest Education Level | No Diploma | 255 | 744 | 932 |
| Diploma or GED | 616 | 1532 | 1974 | |
| Some College | 464 | 1165 | 1542 | |
| Assoc. Degree | 203 | 444 | 560 | |
| Bachelors Degree | 155 | 423 | 613 | |
| Higher Degree | 79 | 187 | 253 | |
| Total Housing Units | 1,328 | 3,210 | 4,074 | |
| --Owner-Occupied | 618 | 1,538 | 2,114 | |
| --Renter-Occupied | 474 | 1,140 | 1,327 | |
| Owner-Occupied Values | < 100K | 424 | 1050 | 1342 |
| 100-199K | 137 | 374 | 570 | |
| 200-299K | 31 | 70 | 122 | |
| 300-399K | 12 | 22 | 34 | |
| 400-499K | 8 | 11 | 20 | |
| 500K+ | 6 | 11 | 27 | |
| Total Working Age Population | 2,171 | 5,393 | 7,064 | |
| In Work Force | 1,282 | 3,000 | 3,907 | |
| Not In Work Force | 889 | 2,394 | 3,157 | |
| Workforce Employed | 1,119 | 2,703 | 3,564 | |
| Workforce Unemployed | 163 | 297 | 344 | |
| Civlian Workforce | 1,282 | 3,000 | 3,907 | |
| Military Workforce | 0 | 0 | 0 | |
| Total Households | 1,092 | 2,679 | 3,442 | |
| Family Households | 775 | 1,772 | 2,303 | |
| Non-Family Households | 317 | 907 | 1,138 | |
| Married Couple | 420 | 1,054 | 1,471 | |
| Other Family | 355 | 718 | 832 | |
| Married w/Child | 164 | 470 | 608 | |
| Single Male w/Child | 67 | 111 | 131 | |
| Single Female w/Child | 130 | 283 | 320 | |
Population Change Last Two Decades - Plus Projection
| 2000 | % | 2010 | % | 2020 | % | 2030 | |
|---|---|---|---|---|---|---|---|
| Oklahoma | 3,450,654 | +9 | 3,751,351 | +7 | 4,024,202 | +7 | 4,302,501 |
| Okfuskee County | 11,814 | +3 | 12,191 | 0 | 12,246 | +1 | 12,327 |
| Pottawatomie County | 65,521 | +6 | 69,442 | +9 | 75,911 | +8 | 82,067 |
| Seminole County | 24,894 | +2 | 25,482 | -6 | 23,883 | -3 | 23,240 |