McDonalds NW 23rd & Broadway

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It seems as if overnight the McDonalds at 23rd and Broadway was demolished. Wishful thinking has me hoping for something better, however I imagine they are rebuilding? Looked around for this topic, hope it's not a repost. Thanks for any info!

[kswright29]

Since the Carls Jr. across the street got a face lift they probably thought they had to one-up them and totally rebuild.

[warreng88]

Here is Steve Lackmeyer's blog on it:

New McDonalds Coming to NW 23 and Broadway | OKC Central

[Architect2010]

It's mentioned somewhere here or on OKCcentral. I'm not sure, but McDonald's is just replacing that old building with their new corporate-style design. You know, the more modern looking ones.

[MikeOKC]

Is that McDonald's a Patti Santiago location? Or is it a corporate?

[Midtowner]

Do commercial buildings depreciate completely after 20 years?

[MikeOKC]

Do commercial buildings depreciate completely after 20 years?

I had it explained to me, by a VERY knowledgeable source in these matters, that McDonald's is more in the real estate business than the food business. The ownership of land is a huge part of the McDonald's empire as corporate (not necessarily the franchise owners) have always, from the beginning, owned their own land/property/buildings. That has appreciated, with shrewd buying and selling, into something most people don't realize. As for your question, I know that McDonald's, on highly valued land, does something different every so many years. I'm sure this ties in somewhere. Something about the higher property taxes on highly valued land and tax breaks with new construction.

[mugofbeer]

I'm not in real estate so its not my area of knowledge. A corner at 23rd & Broadway is worth more than a corner at, say, 23rd and Meridian?

[MikeOKC]

I'm not in real estate so its not my area of knowledge. A corner at 23rd & Broadway is worth more than a corner at, say, 23rd and Meridian?

Zoned the way it is and just a stone's throw from one of the largest concentration of workers in Oklahoma with the state capitol complex, etc.

[Dustin]

I love their Sausage egg and cheese Mcgriddle but other than that, McDonalds SUCKS!

[Larry OKC]

WOW..the location at 23rd & Broadway was a new store (it was the relocated one that was on Lincoln)...guess it has been a few years now...I still think of the Wal-Mart Bel Isle store as being new, but according to the pics they have back by the restrooms, it has been there 10 years now (and undergoing it's 2nd "remodel")

[Midtowner]

I had it explained to me, by a VERY knowledgeable source in these matters, that McDonald's is more in the real estate business than the food business. The ownership of land is a huge part of the McDonald's empire as corporate (not necessarily the franchise owners) have always, from the beginning, owned their own land/property/buildings. That has appreciated, with shrewd buying and selling, into something most people don't realize. As for your question, I know that McDonald's, on highly valued land, does something different every so many years. I'm sure this ties in somewhere. Something about the higher property taxes on highly valued land and tax breaks with new construction.

I was talking about the building itself. I was thinking that it was maybe a depreciable asset and they had realized the most benefit they could, so they demolish and rebuild and start depreciating all over again. I was talking about a tax issue.

[possumfritter]

Is that McDonald's a Patti Santiago location? Or is it a corporate?

I thought she was just out here in far NW OKC?????

[BoulderSooner]

the 23rd store was pretty old ... and the new site plan has the front right up on 23rd .. so IMHO it is an improvement

[Spartan]

Do commercial buildings depreciate completely after 20 years?

Commercial depreciates a lot faster these days because it's held to a lower standard than residential, and even the majority of residential units built at moderate price points actually depreciate rapidly. If the quality of new construction remains stays where it is right now the assumption of home values appreciation over time is going to be a concept of the past.

[OKCTalker]

"Depreciation" is an accounting term, and doesn't necessarily reflect the obsolescence of the building, nor the years of useful life remaining. I believe that commercial property improvements are subject to a 27.5 year straight-line depreciation schedule. A building could become obsolete long before then, or - if well-maintained - last much longer.

[Midtowner]

"Depreciation" is an accounting term, and doesn't necessarily reflect the obsolescence of the building, nor the years of useful life remaining. I believe that commercial property improvements are subject to a 27.5 year straight-line depreciation schedule. A building could become obsolete long before then, or - if well-maintained - last much longer.

Can accelerated depreciation be applied to commercial buildings? That'd probably explain part of the reason for doing this. At some point, the months out of service are outweighed by the benefits of constructing a new, more productive-per-square-foot facility.

[OKCMallen]

If it's the same owner and management, I still won't be going. That was the absolute worst McD's I have ever visited in OKC. I gave it many tries during law school and they simply couldn't do anything right. They never, ever gave two craps about your order or satisfaction.

At least it will look prettier.

[Midtowner]

If it's the same owner and management, I still won't be going. That was the absolute worst McD's I have ever visited in OKC. I gave it many tries during law school and they simply couldn't do anything right. They never, ever gave two craps about your order or satisfaction.

At least it will look prettier.

This might give 'em a chance to reboot the staff.

You're right though, they were always slow and not quite as good as other McD's.

We shall see.

[OKCTalker]

Can accelerated depreciation be applied to commercial buildings? That'd probably explain part of the reason for doing this. At some point, the months out of service are outweighed by the benefits of constructing a new, more productive-per-square-foot facility.

Good question - can anybody shed some light here? Two questions, really:
1) Is accelerated depreciation still legal (SOYD, ACRS, etc.)?
2) If a building is bulldozed that hasn't been fully-depreciated, can you then write off the remaining amount?

[okclee]

If it's the same owner and management, I still won't be going. That was the absolute worst McD's I have ever visited in OKC. I gave it many tries during law school and they simply couldn't do anything right. They never, ever gave two craps about your order or satisfaction.

At least it will look prettier.

I agree 100%, being the worst McD's in Okc that I have been to.

[Wambo36]

I agree 100%, being the worst McD's in Okc that I have been to.

You need to try the one at I-240 and Sooner. In all the years we lived in that area (we were there before the Mcdonalds) it became a running bet for my kids as to whos order would be the most screwed up. You could count the times they got it right, in over 10 years of trying, on one hand. I nominate the one on 23rd as second worst. Yes, I did eat there on occasion while I was working. Their service did leave something to be desired.

[bluedogok]

Do commercial buildings depreciate completely after 20 years?

20 years is about the max life for the temporary type of buildings that most retail is these days. They are always gong to "rebrand" more often than that and it can get to a point where maintenance costs exceed the tax depreciation if there is any of that left.

I had it explained to me, by a VERY knowledgeable source in these matters, that McDonald's is more in the real estate business than the food business. The ownership of land is a huge part of the McDonald's empire as corporate (not necessarily the franchise owners) have always, from the beginning, owned their own land/property/buildings. That has appreciated, with shrewd buying and selling, into something most people don't realize. As for your question, I know that McDonald's, on highly valued land, does something different every so many years. I'm sure this ties in somewhere. Something about the higher property taxes on highly valued land and tax breaks with new construction.

There is a book about how McDonald's was built where I read that, it is a very interesting story.

[khook]

I was not satisfied with the service once and went all the way up the corporate ladder to tell them of my dissatisfaction. The owner finally took my call and gave a lot of lip service. Tried to charge me a different price than what was posted on the menu board and tried to pass it off as that is what the computer tells them to charge. Never went back because the lip service from both corporate and franchise owner.

[rcjunkie]

I thought she was just out here in far NW OKC?????

The Santiago family has three in Norman.