Current Use by Public Records
- The Learning Experience - Edmond / Daycare Center
Property Details for 1288 15Th St
- Year built
- 2023
- Lot size
- 2.00 lot acres
- Property type
- Day care centers
- Property subtype
- Retail properties & Spaces
Description
This exceptional investment opportunity presents a fee-simple ownership of a 10,000-square-foot retail property in Edmond, Oklahoma. The property, built in 2023, is currently 100% occupied under a triple-net (NNN) lease with a corporate guarantee. The lease has 14 years remaining, featuring 8% rental increases every five years, providing significant long-term growth potential and inflation hedging. The property boasts a strong 7.26% cap rate and a substantial net operating income (NOI) of $371,900. Situated on a 2-acre lot with 44 parking spaces, the property is zoned PUD (Planned Unit Development) and enjoys excellent visibility and accessibility on East 15th Street, with convenient access to major highways including US Highway 77 and Interstate 35. The property benefits from a prime location within a dense retail area, surrounded by major shopping centers and numerous residential communities, including significant multi-family developments. The strong demographics of the 5-mile trade area, with over 132,400 residents and an average household income of $122,077, further enhance the investment appeal. The tenant, a leading provider of early childhood education, has demonstrated a long-term commitment to the location. This property offers a low-management, passive investment opportunity with substantial upside potential. The APN is 18-246-1010. Asking price is $5,125,000, representing a price per square foot of $512.50.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Edmond
- County
- Oklahoma
- State
- Oklahoma
- Longitude
- -97.4629
- Latitude
- 35.6379
