| Purchase Price | $2,820,000 |
|---|---|
| Annual Rental Income | $176,250 |
| Cap Rate | 6.25% |
| Lease Term | 16 Years |
| City | Tulsa MSA |
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Whataburger Net Lease Investment – Tulsa MSA
Single-Tenant NNN Asset in a Growing South-Central Market
This offering presents an opportunity to acquire a net lease investment backed by Whataburger, one of the strongest regional brands in the quick-service restaurant (QSR) sector. Situated within the expanding Tulsa metropolitan statistical area (MSA), the property benefits from long-term income security, passive ownership, and strong real estate fundamentals. With a long-term absolute triple-net lease in place, the tenant assumes all operating responsibilities, making this an attractive investment for private individuals, family offices, or 1031 exchange buyers seeking stable cash flow in a pro-business, low-tax market.
Whataburger’s growth across Oklahoma reflects its increasing dominance across the South-Central United States. The brand continues to secure high-visibility sites in established and emerging submarkets, and Tulsa’s sustained economic growth and affordable living conditions make it an ideal target for long-term brand expansion.
Tenant Overview – Whataburger
Founded in 1950, Whataburger has grown from a regional Texas-based burger chain to a nationally recognized QSR brand with nearly 1,000 locations across 14 states. Known for its custom-built burgers, expansive breakfast menu, and signature orange-and-white design, Whataburger maintains an extremely loyal customer base across the Southern U.S.
The company’s expansion into Oklahoma has been deliberate and successful, with high-performing stores throughout the Tulsa and Oklahoma City metros. Whataburger locations are built for volume, featuring dual-lane drive-thrus, modern digital systems, and fast throughput during all dayparts. Backed by BDT Capital Partners, the company is executing a multistate growth strategy supported by experienced franchisees and a corporate commitment to operational consistency.
Whataburger’s regional strength, fan loyalty, and ability to adapt to consumer preferences make it a high-performing and reliable net lease tenant, particularly in suburban markets with dense rooftops and strong commuter traffic.
Tulsa MSA – Stable Growth and Economic Diversity
The Tulsa MSA, home to over 1 million residents, is the second-largest metro in Oklahoma and continues to grow due to its affordability, strategic location, and economic resilience. Known for its historical ties to the energy sector, Tulsa has successfully diversified into aerospace, manufacturing, healthcare, logistics, and financial services. The market’s pro-growth policy environment and low cost of living have made it a top choice for companies and residents relocating from higher-cost areas.
The surrounding population within a five-mile radius of the property exceeds 150,000, with average household incomes surpassing $75,000. The area offers a mix of stable residential neighborhoods, new housing developments, and commercial corridors that support consistent demand for quick-service restaurant options.
Tulsa’s infrastructure includes a robust network of highways, railroads, and a regional airport, allowing for efficient logistics and business connectivity. Its central location between major metros like Dallas, Kansas City, and St. Louis enhances its appeal as a regional commerce hub and contributes to job and population stability.
Absolute NNN Lease – Passive Income with No Landlord Responsibility
The Whataburger property is subject to an absolute triple-net lease, placing the full burden of maintenance, insurance, taxes, and repairs on the tenant. This lease structure eliminates landlord management obligations and provides a truly passive income stream ideal for long-term hold investors, trust-based ownership, and those executing a 1031 exchange.
With a long-term lease in place and built-in rental increases, the asset delivers consistent income growth over time while preserving the security of tenant credit. This structure allows investors to maximize their return without operational complexity, making it suitable for both institutional-grade portfolios and individual investors seeking dependable, low-maintenance returns.
Prime Retail Corridor with High Visibility and Strong Co-Tenancy
The property benefits from a strategic location along a high-traffic retail corridor with visibility to more than 30,000 vehicles per day. Surrounded by dense residential development and strong national co-tenants, the site experiences steady daytime and evening traffic throughout the week.
Neighboring tenants include Walmart, Lowe’s, Walgreens, Chick-fil-A, McDonald’s, Aldi, and major fuel stations. These complementary uses enhance traffic volume and brand visibility for Whataburger, supporting both drive-thru and dine-in performance. The location also serves multiple school districts, healthcare campuses, and employment nodes, ensuring a reliable consumer base across multiple income levels and age groups.
Retail demand in the Tulsa area has remained resilient, and outparcel sites leased to credit QSR tenants remain highly desirable given their scarcity and operational reliability. As retail migrates toward essential services and drive-thru formats, this site stands out as a long-term performer within a maturing commercial district.
Oklahoma’s Business-Friendly Environment
Oklahoma ranks among the most business-friendly states in the U.S., with no inventory tax, competitive corporate tax rates, and a regulatory framework that encourages job growth and private investment. The state’s central location and low cost of doing business have made it a logistics and manufacturing hub for national firms seeking proximity to both East and West Coast markets without the burden of high costs.
For real estate investors, Oklahoma offers above-average yield opportunities, strong tenant retention, and low acquisition costs relative to neighboring states. Tulsa’s balanced economy and infrastructure have made it one of the most resilient secondary markets in the country, attracting both institutional and private investment in recent years.
Whataburger’s sustained presence and expansion across Oklahoma signals long-term brand confidence and a deep understanding of the consumer base. Locations in stable suburban corridors, particularly those with high visibility and limited competition, are ideally positioned for long-term tenant occupancy and investor success.
Demographics and Consumer Base
Tulsa’s demographic profile aligns well with Whataburger’s ideal customer base: middle-income families, younger professionals, shift-based workers, and loyal regional consumers who prefer value-driven, convenient food options from a familiar brand.
Investment Highlights
Conclusion
This Whataburger net lease property within the Tulsa MSA provides an exceptional opportunity to secure a passive, income-producing real estate asset in a growing and economically diverse market. The tenant’s operational reliability, brand strength, and strategic growth plan throughout Oklahoma position this location for long-term performance and stability.
With a fully passive lease structure, high-visibility site, and strong surrounding demographics, this asset is ideally suited for investors seeking consistent income, tenant quality, and real estate fundamentals in a pro-growth, low-tax environment. Whether for a 1031 exchange, portfolio diversification, or long-term wealth preservation, this Whataburger offering delivers the core characteristics that define best-in-class net lease investments.