C-2 Commercial Land
For Sale
$379,900
222 N Blackwelder Ave, Edmond, OK 73034
Level commercial land assembly with C-2 zoning and existing utility infrastructure.
Property Size1,754 SF
Price / SF$216.59
Days on Market44
Property Features for 222 N Blackwelder Ave
General Information
Standard status
Active
Size
1,754 SF
Building Details
Year Built
1962
Listing Agency:
OK Flat Fee Realty
Listed By:
Chance Daggs · License #177744
(405) 759-8448
Source:
Bktoklahomacity
Added: Jul 21
Changed: Aug 31
Last Checked: Sep 1 at 10:12PM
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 OK Flat Fee Realty
Investment Insights
Based on property information with market context.
This two-property commercial land assembly encompasses approximately 0.32 acres, or 14,000 square feet, with C-2 Neighborhood Commercial zoning and inclusion in Edmond’s PUD. The level site currently contains two single-family structures totaling 1,754 square feet, measuring 1,034 square feet and 720 square feet, respectively. Both structures date to 1962.
Major utilities are already present, supporting future site planning and reducing initial infrastructure work. The properties are located near the University of Central Oklahoma and Downtown Edmond, with access to the Railyard, local shopping, and the Edmond Farmers Market. The C-2 designation and assembled acreage support evaluation of multifamily, professional office, commercial, or mixed-use concepts, subject to verification of applicable City of Edmond requirements.
Major utilities are already present, supporting future site planning and reducing initial infrastructure work. The properties are located near the University of Central Oklahoma and Downtown Edmond, with access to the Railyard, local shopping, and the Edmond Farmers Market. The C-2 designation and assembled acreage support evaluation of multifamily, professional office, commercial, or mixed-use concepts, subject to verification of applicable City of Edmond requirements.
Key Highlights
- Approximately 0.32 acres, or 14,000 square feet, across two assembled properties
- C‑2 (Neighborhood Commercial) zoning within Edmond’s PUD
- Level site with all major utilities currently present
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
$15,859
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
4.17%
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%
$317,180
$317.2K
Cap Rate 7%
$226,557
$226.6K
Cap Rate 9%
$176,211
$176.2K
Market Conditions
NOI Build-Up for 1,754 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
$28.4K $16.20/SF
− Vacancy
−$3.0K −$1.73/SF
EGI
$25.4K $14.47/SF
− OpEx
−$9.5K −$5.42/SF
NOI
$15.9K $9.04/SF
Area
Oklahoma County, OK
Vacancy
10.70%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
37.50%
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%
$317,180
Cap Rate 7%
$226,557
Cap Rate 9%
$176,211
Alternative Uses
Best Use
Mixed Use
$226.6K
$198.2K – $264.3K
NOI $15,859 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$365.3K
$319.7K – $426.2K
NOI $25,573 @ 7.0% cap · market cap 6.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,166
Businesses Nearby
Explore this area
Business Placement
Demographics for 73034, OK
47,553
Population
18,727
Households
2.5
Avg Household Size
37
Median Age
59%
College-Educated
96%
High-School Grad
51.7 sq mi
ZIP Area
920
Density / Sq Mi
$113,296
Median Household Income
$52,163
Median Earnings
$1,203
Median Rent
$368,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Level commercial land assembly with C-2 zoning and existing utility infrastructure.
Where is this commercial land located?
The property is located at 222 N Blackwelder Ave Edmond, OK.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: Approximately 0.32 acres, or 14,000 square feet, across two assembled properties; C‑2 (Neighborhood Commercial) zoning within Edmond’s PUD; Level site with all major utilities currently present
