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    24613 Pennsylvania Ave Edmond, OK 73025
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    24613 Pennsylvania Ave, Edmond, OK 73025

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    Property Details for 24613 Pennsylvania Ave

    Property type
    Land

    Description

    This exceptional 10-acre commercial land parcel presents a unique investment opportunity in Edmond, Oklahoma. Situated on the southeast corner of Waterloo Road and Pennsylvania Avenue, at 24613 N Pennsylvania Ave, Edmond, OK 73025, this property offers unparalleled visibility and accessibility. The location boasts strong population growth and a high-income demographic, making it ideal for a variety of commercial developments. The expansive acreage provides ample space for a wide range of projects, from retail centers and office buildings to light industrial facilities or other commercial ventures. The asking price for this strategically located property is $650,000. Given the area's robust economic indicators and the property's prime corner location, this represents a compelling investment opportunity with significant potential for future appreciation. The property's coordinates are 35.72484111 latitude and -97.54868267 longitude. This is a rare chance to acquire a substantial land holding in a thriving Oklahoma City suburb. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Edmond
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.5487
    Latitude
    35.7248

    Comparable in this City

    • Value Estimation by Request
      25.86 Acres

      Waterloo And Western

      Land
      0 Waterloo And Western, Edmond, OK 73025
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      1.00 Acre

      2391 227th St

      COMMERCIAL (GENERAL)
      2391 227th St, Edmond, OK 73025-9220
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    • Value Estimation by Request
      9.02 Acres

      5150 234th St

      COMMERCIAL (GENERAL)
      5150 234th St, Edmond, OK 73025-9432
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    • Value Estimation by Request
      43.37 Acres

      Edmond, OK 73025

      COMMERCIAL (GENERAL)
      Edmond, OK 73025
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    • Value Estimation by Request
      720 SF

      411 Waterloo Rd

      COMMERCIAL (GENERAL)
      411 Waterloo Rd, Edmond, OK 73025-1997
      View Details
    • Value Estimation by Request
      0.15 Acres

      845 Kelly Lks Pass

      VACANT COMMERCIAL LAND
      845 Kelly Lks Pass, Edmond, OK 73025-9787
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Corner Parcel in Deer Creek

      Raw land with road frontage in Deer Creek Schools.
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      Land For Sale

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      Land For Sale in Edmond

      Land available in Edmond, Oklahoma, near Highway 74.
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      0.96 Acres

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      Residential land available in Edmond, Oklahoma.
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    • $1,300,000
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      5.67-acre lot with pond, perfect for custom home.
      1101 W Waterloo Rd, Edmond, OK 73025
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    Similar Nearby for Lease

    • $3,000 /Mo
      247,168 SF

      Corner Commercial Rentals in Edmond, OK

      Spacious commercial rentals on the corner of Waterloo Road and Kelley.
      1101 W Waterloo Rd, Edmond, OK 73025
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    • $2,200 /Mo
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      Edmond Commercial Flex Space Rental

      Spacious commercial rentals with high ceilings at a visible intersection.
      1101 W Waterloo Rd, Edmond, OK 73025
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    • $10 SF/Yr
      7,680 SF

      Edmond Industrial Flex Space

      7,680 SF Flex Space, Edmond, OK
      8701 Smt Vw Ln, Edmond, OK 73025
      View Details
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    24613 Pennsylvania Ave
    Edmond, OK 73025
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    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
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    24613 Pennsylvania Ave, Edmond, OK, 73025
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