701 S Kelly Ave
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
701 S Kelly Ave
6,750 SF 100% Leased Retail Building Edmond, OK 73003 $1,450,000 ($215/SF) 7.93% Cap Rate
Investment Highlights
- This property has exposure to heavy traffic and retail area.
- Good location for Owner/Occupied Cannabis dispensary and facility.
- Located at four-way stop light with easy access to Broadway Extension and Kilpatrick Turnpike.
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
Property Subtype
Retail
Building Size
6,750 SF
Building Class
C
Year Built/Renovated
1984/2015
Price
$1,450,000
Price Per SF
$215
Cap Rate
7.93%
NOI
$115,020
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.18
Land Acres
0.87 AC
Zoning
Commercial - Commercial
Parking
26 Spaces (3.86 Spaces per 1,000 SF Leased)
Frontage
55 FT on Kelly
Amenities
- Signalized Intersection
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.
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Christ Thrift Store
- Retailer
- 3,900 SF
- $14.00
- Full Service Gross
- May 2027
- Crystal massage.
- Health Care and Social Assistance
- 1,250 SF
- $19.20
- Full Service Gross
- Nov 2021
- Herblo co.
- Retailer
- 1,250 SF
- $19.20
- Full Service Gross
- Nov 2025
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Christ Thrift Store | Retailer | 3,900 SF | $14.00 | Full Service Gross | May 2027 | |
| Crystal massage. | Health Care and Social Assistance | 1,250 SF | $19.20 | Full Service Gross | Nov 2021 | |
| Herblo co. | Retailer | 1,250 SF | $19.20 | Full Service Gross | Nov 2025 |
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 182554500 | Total Assessment | $62,172 (2023) |
| Land Assessment | $10,726 (2023) | Annual Taxes | $5,424 ($0.80/SF) |
| Improvements Assessment | $51,446 (2023) | Tax Year | 2022 Payable 2022 |
PROPERTY TAXES
Parcel Number
182554500
Land Assessment
$10,726 (2023)
Improvements Assessment
$51,446 (2023)
Total Assessment
$62,172 (2023)
Annual Taxes
$5,424 ($0.80/SF)
Tax Year
2022 Payable 2022
-
Darren Gossett - DMG Enterprises
1 of 7
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
DMG Enterprises
701 S Kelly Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.