128 E 33rd St
Edmond, OK 73013
Retail Property For Sale

Marcus & Millichap has been retained as an exclusive marketing advisor for the sale of a single-tenant net-leased Aaron's property located in Edmond, OK (Oklahoma City MSA). Aaron's has occupied the property since 2007 under a double-net (NN) lease. They recently exercised a five-year renewal option extending the current term through 10/31/2022. The lease has a scheduled rent increase in 2019, one remaining five-year option to renew, and is corporately guaranteed by Aaron's, Inc. (NYSE: AAN). The 6,574 SF building is situated on a 24,167 SF pad site to Edmond Crossing, a 160,813 sf shopping center located at the corner of E 33rd Street and South Broadway (HWY 77). The intersection of 33rd and Broadway recently completed significant construction which improved traffic flow and visibility to the site. The subject property additional benefits from being the pad site on the corner of the shopping center and a large pylon sign on 33rd. The shopping center is anchored by TJ Maxx and the other pads are occupied by Le Petite Academy, Chick-Fil-A, Taco Bell, and McDonald's. Edmond, OK (pop. 81,405) is a contiguous part of the Oklahoma City MSA and is home to University of Central Oklahoma (located 2.5 miles away, enrollment 17,239) and Oklahoma Christian University (located 1.9 miles away, enrollment 2,479). The subject property is surrounded by apartments (52% of housing with-in a one mile radius is renter-occupied) such as Villas at Stonebridge, The Wynn at Edmond Crossing and Fountain Lake. Due to the low vacancy rate (around 6%), many new apartment buildings are being constructed in the area.