1200 15Th StEdmond, OK 73013

Property Details for 1200 15Th St

Year built

2023

Property size (Sq ft)

2,271 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 2,271 square-foot Andy's Frozen Custard restaurant in Edmond, Oklahoma. Built in 2023, the property boasts a 20-year absolute NNN lease with a highly experienced franchisee, Ranchers Custard Company LLC, commencing March 1, 2023, and expiring March 1, 2043. The lease includes four 5-year renewal options and features 1.5% annual rent bumps, providing excellent protection against inflation and consistent NOI growth. The property enjoys a 6.00% cap rate and a current NOI of $207,154. Situated on 1200 E. 15th Street, this drive-thru equipped location benefits from high visibility and accessibility, averaging 23,400 vehicles daily. Its strategic location offers convenient access to major thoroughfares including US Highway 77 and Interstate 35. The property is part of a dense retail trade area, proximate to significant shopping centers such as Spring Creek Village, Edmond Plaza, and Edmond Crossing, anchored by national retailers like Starbucks, Target, and Walmart. The surrounding area also features numerous residential communities, providing a strong, affluent consumer base. The 5-mile trade area boasts over 133,500 residents and 60,000 daytime employees, with an average household income exceeding $121,980. The property includes 24 parking spaces and is zoned PUD. This is a truly passive investment opportunity with zero landlord responsibilities, offering significant long-term value and growth potential. APN: 8-246-1010.

Location Insight

City

Edmond

County

Oklahoma

State

Oklahoma

Latitude

35.6379

Longitude

-97.4636

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