1288 15Th StEdmond, OK 73013

Property Details for 1288 15Th St

Year built

2023

Lot size

2.00 AC

Property size (Sq ft)

10,000 SF

Property type

Specialty properties

Property subtype

Day care centers & nurseries

Description

This exceptional investment opportunity presents a fee-simple ownership of a 10,000-square-foot retail property in Edmond, Oklahoma. The property, built in 2023, is currently 100% occupied under a triple-net (NNN) lease with a corporate guarantee. The lease has 14 years remaining, featuring 8% rental increases every five years, providing significant long-term growth potential and inflation hedging. The property boasts a strong 7.26% cap rate and a substantial net operating income (NOI) of $371,900. Situated on a 2-acre lot with 44 parking spaces, the property is zoned PUD (Planned Unit Development) and enjoys excellent visibility and accessibility on East 15th Street, with convenient access to major highways including US Highway 77 and Interstate 35. The property benefits from a prime location within a dense retail area, surrounded by major shopping centers and numerous residential communities, including significant multi-family developments. The strong demographics of the 5-mile trade area, with over 132,400 residents and an average household income of $122,077, further enhance the investment appeal. The tenant, a leading provider of early childhood education, has demonstrated a long-term commitment to the location. This property offers a low-management, passive investment opportunity with substantial upside potential. The APN is 18-246-1010. Asking price is $5,125,000, representing a price per square foot of $512.50.

Location Insight

City

Edmond

County

Oklahoma

State

Oklahoma

Latitude

35.6379

Longitude

-97.4629

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