Freestanding NNN Retail
For Sale
Contact for pricing
1151 N Santa Fe Ave, Edmond, OK 73003
Freestanding retail property is offered for sale as a fully leased, triple-net investment with straightforward ownership responsibilities.
Property Size4,000 SF
Price / SF$300
Days on Market105
Property Features for 1151 N Santa Fe Ave
General Information
Standard status
Active
Size
4,000 SF
Total Parking Spaces
30
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$96,000
Building Details
Tenancy
Single
Listing Agency:
Network Realty Associates
Listed By:
Sam Hemani · License #OK 157101
Source:
Crexi
Added: Jun 9
Changed: Sep 18
Last Checked: Sep 20 at 9:37AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Network Realty Associates
Investment Insights
Based on property information with market context.
This freestanding retail asset is presented as a fully leased property under a Triple Net (NNN) lease structure. The offering is positioned as an investment-grade retail building intended to keep landlord responsibilities limited, with the tenant responsible for major operating expenses consistent with NNN frameworks.
The property is located along an established commercial corridor in Edmond and is described as having strong tenant presence and excellent accessibility. The asset is a storefront-style retail offering suited to neighborhood and community convenience retail needs, with access intended to support ongoing customer traffic.
For buyers seeking a retail investment with an NNN structure, the property’s fully leased status provides an immediately income-producing configuration based on the information provided. Prospective owners and brokers can focus due diligence on the lease terms, tenant obligations, and operating expense allocations inherent to the triple-net model, along with confirming the condition and performance of the improvements as part of underwriting and acquisition planning.
The property is located along an established commercial corridor in Edmond and is described as having strong tenant presence and excellent accessibility. The asset is a storefront-style retail offering suited to neighborhood and community convenience retail needs, with access intended to support ongoing customer traffic.
For buyers seeking a retail investment with an NNN structure, the property’s fully leased status provides an immediately income-producing configuration based on the information provided. Prospective owners and brokers can focus due diligence on the lease terms, tenant obligations, and operating expense allocations inherent to the triple-net model, along with confirming the condition and performance of the improvements as part of underwriting and acquisition planning.
Key Highlights
- Freestanding retail investment property offered for sale as fully leased
- Triple Net (NNN) lease structure
- Located in one of Edmond’s established commercial corridors within the Oklahoma City metropolitan area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$42,220
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.52%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$844,400
$844.4K
Cap Rate 7%
$603,143
$603.1K
Cap Rate 9%
$469,111
$469.1K
Market Conditions
NOI Build-Up for 4,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$66.7K $16.68/SF
− Vacancy
−$6.4K −$1.60/SF
EGI
$60.3K $15.08/SF
− OpEx
−$18.1K −$4.52/SF
NOI
$42.2K $10.56/SF
Area
Oklahoma County, OK
Vacancy
9.60%
Lease Rate
$16.68 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$844,400
Cap Rate 7%
$603,143
Cap Rate 9%
$469,111
Alternative Uses
Best Use
Retail
$603.1K
$527.8K – $703.7K
NOI $42,220 @ 7.0% cap · market cap 3.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$833.1K
$729.0K – $972.0K
NOI $58,319 @ 7.0% cap · market cap 4.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
340
Businesses Nearby
314k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 37%
Shops & Services 24%
Apparel 22%
Dining 13%
Walmart
Superstores
117,305 visits/mo
0.1 miles
Kohl's
Apparel
58,172 visits/mo
0.3 miles
Dollar Tree
Shops & Services
24,596 visits/mo
0.3 miles
7-Eleven
Shops & Services
20,060 visits/mo
0.1 miles
Goodwill
Apparel
12,432 visits/mo
0.3 miles
Demographics for 73003, OK
22,648
Population
9,760
Households
2.3
Avg Household Size
36
Median Age
42%
College-Educated
93%
High-School Grad
7.4 sq mi
ZIP Area
3,061
Density / Sq Mi
$76,957
Median Household Income
$45,176
Median Earnings
$1,338
Median Rent
$230,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
NNN property - Freestanding retail property is offered for sale as a fully leased, triple-net investment with straightforward ownership responsibilities.
Where is this nnn property located?
The property is located at 1151 N Santa Fe Ave Edmond, OK.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Freestanding retail investment property offered for sale as fully leased; Triple Net (NNN) lease structure; Located in one of Edmond’s established commercial corridors within the Oklahoma City metropolitan area
