Bealls | Checotah, OK
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Addison Williams of CBRE is proud to present the sale of a single-tenant, net-leased Bealls—one of the largest privately held department store chains in the U.S., with over 650 locations nationwide.
Located adjacent to a Walmart Supercenter, this 20,590 SF retail space sits just off W Gentry Ave, Checotah’s primary thoroughfare with traffic counts exceeding 15,000 vehicles per day. Bealls recently executed a new lease extending through January 2036, featuring a 10% rent increase scheduled for February 1, 2030, and five additional 5-year renewal options, each with further 10% escalations.
The building has undergone a complete renovation, including a new façade, modernized HVAC, electrical and plumbing upgrades, and refreshed interior finishes. The parking lot has also been resurfaced and restriped.
The lease is structured on a NN+ basis, with the tenant covering most property-related expenses. Additionally, a 200 SF Mudslingers Coffee pop-up occupies space within the Bealls parking lot.
- Bealls has demonstrated a strong commitment to the location by recently signing a new 10-year lease. The property sits in a high-visibility spot next to a Walmart Supercenter on the city's main thoroughfare, which sees traffic volumes of over 15,000 vehicles per day. A 10% rent increase is set to take effect in February 2030.
- The 20,590 SF building underwent a complete renovation in 2024, including a new storefront, updated HVAC, electrical and plumbing systems, modern tenant finishes, and resurfaced parking lot.
- With a below-market rental rate of $7.45 PSF (compared to the local market average of $13.00 PSF within a 3-mile radius), the property offers strong upside. The NN+ lease structure requires minimal responsibilities from the landlord.