Academy Sports + Outdoors
2409 N Perkins Rd
Stillwater, OK 74075
Property: Investment Sales
Square Footage: +/- 63,007
Acreage: +/- 4.434
Cap Rate: 6.50%
Anchor Tenants: Walmart Neighborhood Market
- Industry Leading Tenant – Academy Sports + Outdoors is a nationally recognized, best-in-class sporting goods retailer with $4.65 billion in annual sales and sales per square foot in excess of $300, far surpassing that of its closest competitor in the sporting goods sector.
- New Construction, 15-Year Lease – Brand new 15-year lease that commenced in May 2015.
- Absolute Net Lease Structure – Zero landlord responsibility throughout the base lease or option periods.
- Attractive Rental Increases – $0.50 rent per square foot increases every five years, during primary term and renewal options.
- Dense Retail Corridor – Surrounding retailers include Walmart Neighborhood Market, Best Buy, Atwoods, Petco, Belk, Lowe’s and many
- Core University Location Serves 25,000+ Students – The Property is approximately two miles from Oklahoma State University, which has over 25,000 students and 6,000 employees.
- Excellent Retail Trade Area – Property benefits from numerous positive attributes, including new construction, good positioning/visibility on Perkins Street, quality of the Lakeview Pointe development and proximity of other national retailers.
- Market Rents – Starting rent per SF of $8.95 is slightly below or in-line with average market rents. Average rent per SF in the area is in the $8-$13 range on a NNN basis.