Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2929 E Memorial Rd Edmond, OK 73013

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,500,000

    NNN leased drive-thru restaurant near Oklahoma Christian University.

    We can help!

    Listing Contact
    Robert Michil
    Source: Legacycrea

    Listing Agent: Robert Michil

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Drive-Thru Restaurant Investment Opportunity

    This fee simple property qualifies for depreciation and is suitable for a 1031 exchange. It features a national investment-grade tenant with a Standard & Poor's credit rating of BBB+. The tenant has consistently paid rent in full and on time throughout the pandemic, without requesting abatements or deferments. Constructed with an existing drive-thru, the property is within walking distance of Oklahoma Christian University. The lease includes 10% rental escalations every 5 years. The surrounding area has a population exceeding 113,000 individuals within a 5-mile radius, and the average household income exceeds $94,000 annually within 1 mile of the site. The NNN lease structure requires the tenant to reimburse costs for maintenance and repairs of the roof, structure, or parking lot, if any.
    Location Intelligence

    Current Use by Public Records

    Starbucks Cafe & Coffee Shop

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Edmond
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.4614649
    Latitude
    35.6095454

    Nearby Similar for Sale

    • $969,000
      Pending

      Remodeled Office Space Near Rose Creek

      Turnkey office space with modern finishes and convenient location.
      2917 NW 156Th St, Edmond, OK 73013
      View Details
    • $525,000
      2,498 SF

      Well-Designed Office Space For Sale

      Office space featuring reception, six offices, kitchen, and open workspace.
      609 4 Ave, Edmond, OK 73003
      View Details
    • $1,150,000
      9,353 SF

      Edmond Office Building For Sale

      9,353 SF office building with high visibility and flexible layout.
      1220 S Santa Fe Ave, Edmond, OK 73003
      View Details
    • $795,000
      7,573 SF

      Edmond Office Building For Sale

      Commercial office property in Edmond, Oklahoma, with 7573 square feet.
      1900 E 15Th St, Edmond, OK 73013
      View Details
    • Contact for pricing
      Pending

      Office Space Near Rose Creek

      Office space for lease near Rose Creek Golf & Country Club.
      17244 N May Ave, Edmond, OK 73012
      View Details
    • New
      $479,800
      Pending

      Edmond Duplex with Updated Features

      Duplex in Edmond with updated HVAC, roof, and paint.
      13810 N Oxford Dr, Edmond, OK 73013
      View Details
    • $629,000
      4,264 SF

      Edmond Duplex Near UCO Campus

      Well-maintained duplex near University of Central Oklahoma, great investment opportunity.
      1120 E Campbell St, Edmond, OK 73034
      View Details
    • $499,000
      3,100 SF

      Edmond Duplex Near University

      New construction duplex in Edmond, near the University of Central Oklahoma.
      9 N State St, Edmond, OK 73003
      View Details
    • $1,095,000
      4,303 SF

      Edmond Office Building For Sale

      Office building in Edmond, OK, offering 4,303 square feet.
      16362 Muirfield Pl, Edmond, OK 73013
      View Details
    • $1,025,000
      4,672 SF

      Class A Office Building For Sale

      High-quality office building in Edmond's established office corridor.
      2905 NW 156Th St, Edmond, OK 73013
      View Details
    • $325,000
      Pending

      Edmond OK Duplex Investment

      Duplex in Edmond, OK, with investment potential.
      3611 Wynn Cir, Edmond, OK 73013
      View Details
    • $439,000
      2,410 SF

      Edmond Income-Producing Duplex Near School

      Well-maintained duplex near Edmond North High School, ideal for investors.
      212 Ashley Dr Unit 212 &, Edmond, OK 73003
      View Details

    FAQs

    What type of property is this?
    Drive through restaurant - NNN leased drive-thru restaurant near Oklahoma Christian University.
    Where is this drive through restaurant located?
    The property is located at 2929 E Memorial Rd Edmond, OK.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: - National Investment Grade Tenant with S&P Credit Rating BBB+; - NNN Lease Structure - Tenant Reimburses Costs for Maintenance & Repairs; - Tenant has Paid Rent in Full & On Time Throughout Pandemic
    (248) 450-3254
    Request Owner's contact information
    2929 E Memorial Rd Edmond, OK 73013
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2929 E Memorial Rd
    Edmond, OK 73013
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2929 E Memorial Rd Edmond, OK 73013
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Robert Michil
    (248) 450-3254
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!