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701 S Kelly Ave 6,750 SF 100% Leased Retail Building Edmond, OK 73003 $2,500,000 ($370.37/SF) 4.60% Cap Rate
INVESTMENT HIGHLIGHTS
- This property has exposure to heavy traffic and retail area.
- Good location for Owner/Occupied Cannabis dispensary and facility.
- New Roof
- Located at four-way stop light with easy access to Broadway Extension and Kilpatrick Turnpike.
- Updated AC, Plumbing and Electrical
- Updated Exterior
EXECUTIVE SUMMARY
Location, Location, Location! Built in 1984, this retail strip center is located at the cross-street intersection of Kelly Ave and 7th St and consists of four retail spaces, three of which are currently tenant-occupied. Out-building garages may be included and can be rented for approximately $750 per month. Owner Financing is available.
FINANCIAL SUMMARY (PRO FORMA - 2022) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$102,600
|
$15.20
|
| Other Income |
$9,000
|
$1.33
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$111,600
|
$16.53
|
| Taxes |
$5,424
|
$0.80
|
| Operating Expenses |
$6,932
|
$1.03
|
| Total Expenses |
$12,356
|
$1.83
|
| Net Operating Income |
$99,244
|
$14.70
|
FINANCIAL SUMMARY (PRO FORMA - 2022)
| Gross Rental Income | |
|---|---|
| Annual | $102,600 |
| Annual Per SF | $15.20 |
| Other Income | |
|---|---|
| Annual | $9,000 |
| Annual Per SF | $1.33 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $111,600 |
| Annual Per SF | $16.53 |
| Taxes | |
|---|---|
| Annual | $5,424 |
| Annual Per SF | $0.80 |
| Operating Expenses | |
|---|---|
| Annual | $6,932 |
| Annual Per SF | $1.03 |
| Total Expenses | |
|---|---|
| Annual | $12,356 |
| Annual Per SF | $1.83 |
| Net Operating Income | |
|---|---|
| Annual | $99,244 |
| Annual Per SF | $14.70 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Building Size
6,750 SF
Building Class
C
Year Built/Renovated
1984/2015
Price
$2,500,000
Price Per SF
$370.37
Cap Rate
4.60%
NOI
$115,020
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.18
Lot Size
0.87 AC
Zoning
Commercial - Commercial
Parking
26 Spaces (3.86 Spaces per 1,000 SF Leased)
Frontage
200’ on Kelly
AMENITIES
- Signage
- Signalized Intersection
- Tenant Controlled HVAC
- Wheelchair Accessible
- Air Conditioning
ABOUT 701 S KELLY AVE , EDMOND, OK 73003
Built in 1984, this retail strip center is located at the cross-street intersection of Kelly Ave and 7th St and consists of four retail spaces, three of which are currently tenant-occupied. A total facelift was done September 2025.
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Christ Thrift Store
- Retailer
- 3,900 SF
- $14.00
- Full Service
- May 2027
- Crystal massage.
- Health Care and Social Assistance
- 1,250 SF
- $19.20
- Full Service
- Nov 2021
- DMG Enterprises
- Management of Companies and Enterprises
- 1,250 SF
- $25.00
- Full Service
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Christ Thrift Store | Retailer | 3,900 SF | $14.00 | Full Service | May 2027 | |
| Crystal massage. | Health Care and Social Assistance | 1,250 SF | $19.20 | Full Service | Nov 2021 | |
| DMG Enterprises | Management of Companies and Enterprises | 1,250 SF | $25.00 | Full Service | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 182554500 | Total Assessment | $65,280 (2024) |
| Land Assessment | $11,262 (2024) | Annual Taxes | $5,424 ($0.80/SF) |
| Improvements Assessment | $54,018 (2024) | Tax Year | 2022 Payable 2022 |
PROPERTY TAXES
Parcel Number
182554500
Land Assessment
$11,262 (2024)
Improvements Assessment
$54,018 (2024)
Total Assessment
$65,280 (2024)
Annual Taxes
$5,424 ($0.80/SF)
Tax Year
2022 Payable 2022
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Presented by
DMG Enterprises
701 S Kelly Ave
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