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    828-840 Edmond Rd Edmond, OK 73003
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    828-840 Edmond Rd Edmond, OK 73003

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    • Lifestyle centers
    • 86,427 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 828-840 Edmond Rd

    Year built
    1984
    Property size
    86,427 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    Kelly Plaza, located at 828-840 W Edmond Rd, Edmond, OK 73003, presents a unique retail investment opportunity in Oklahoma City's vibrant Edmond submarket. This 86,427 square foot shopping center, situated on a 6.44-acre lot, offers multiple tenancy options with 18,427 square feet currently vacant. Spaces range from a minimum of 1,400 square feet to a maximum contiguous space of 8,924 square feet, ideal for a variety of retail uses. Built in 1984 and extensively renovated in 2011 (with three renovations since then), the property boasts a strong tenant base of long-term service-related businesses. Its prime location at the hard corner of Kelly Avenue and West Edmond Road ensures high visibility and accessibility. Ample parking is available with 333 spaces provided for patrons. The property is zoned Commercial and is located in Oklahoma County. This is a rare chance to acquire a well-maintained, established retail center in a thriving area with significant potential for growth. The property's history of family ownership since 1995 speaks to its stability and consistent performance. The available space presents a compelling opportunity for businesses seeking a prominent location in a high-traffic area of Edmond.

    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
    -97.4949
    Latitude
    35.6523

    Comparable in this City

    • Value Estimation by Request
      46,654 SF

      1333 Santa Fe St

      Neighborhood centers • 46,654 SF
      1333 Santa Fe St, Edmond, OK 73003
      View Details
    • Value Estimation
      $5,205,000
      46,654 SF

      1333 Santa Fe Ave

      SHOPPING CENTER, STRIP CENTER • 46,654 SF
      1333 Santa Fe Ave, Edmond, OK 73003-3676
      View Details
    • Value Estimation
      $1,525,000
      10,000 SF

      300 Edmond Rd

      SHOPPING CENTER, STRIP CENTER • 10,000 SF
      300 Edmond Rd, Edmond, OK 73003-5600
      View Details
    • Value Estimation
      $695,000
      4,700 SF

      1251 Santa Fe Ave

      SHOPPING CENTER, STRIP CENTER • 4,700 SF
      1251 Santa Fe Ave, Edmond, OK 73003-4338
      View Details
    • Value Estimation
      $3,520,000
      43,769 SF

      610 Kelly Ave

      SHOPPING CENTER, STRIP CENTER • 43,769 SF
      610 Kelly Ave, Edmond, OK 73003-5668
      View Details
    • Value Estimation
      $2,780,000
      17,688 SF

      1425 Santa Fe Ave

      SHOPPING CENTER, STRIP CENTER • 17,688 SF
      1425 Santa Fe Ave, Edmond, OK 73003-5901
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      74,412 SF

      Edmond Retail Property for Sale

      Retail property available for purchase in Edmond, Oklahoma.
      730 W Danforth Rd, Edmond, OK 73003
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    • $995,000
      5,118 SF

      Edmond Restaurant Space with Drive-Thru

      5,118 SF restaurant space for sale with drive-thru.
      1801 West Edmond Rd, Edmond, OK 73003
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      Commercial Land Near Edmond North

      Corner commercial land near Edmond North High School and I-35.
      E Covell Rd, Edmond, OK 73003
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      12,680 SF

      Edmond Industrial Property For Sale

      Industrial property available for sale in Edmond, Oklahoma.
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      40 Acres Development Land

      40 acres of development land in Edmond, Oklahoma.
      Development Land 2Nd St, Edmond, OK 73003
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      Commercial Land Redevelopment Opportunity

      Commercial land available for redevelopment in Edmond, Oklahoma.
      800 S Santa Fe Ave, Edmond, OK 73003
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    Similar Nearby for Lease

    • Contact for pricing
      2,760 SF

      Former Restaurant Space Available

      Former fast food restaurant for sublease in front of Walmart.
      2108 W Danforth Rd, Edmond, OK 73003
      View Details
    • $17 SF/Yr
      2,000 SF

      Edmond Retail Space: 2,000 SF

      High-visibility Edmond retail suite, ample parking.
      201-285 S. Santa Fe Avenue, Edmond, OK 73003
      View Details
    • Contact for pricing
      1,400 SF

      Retail Space in Busy Corridor

      Retail space in a busy corridor with strong demographics.
      822 W Edmond Rd, Edmond, OK 73003
      View Details
    • Contact for pricing
      6,460 SF

      Retail Space Available for Lease

      Retail property available for lease, offering 6460 square feet.
      775 West Covell Rd, Edmond, OK 73003
      View Details
    • Contact for pricing

      Kelly Plaza Anchor Space Available

      Anchor space for lease in NW Edmond shopping center.
      828-840 W Edmond Rd, Edmond, OK 73003
      View Details
    • $13 SF/Yr
      1,800 SF

      Retail Space Near Walmart

      Retail space in a high-traffic area near major retailers.
      2000 W Danforth Rd, Edmond, OK 73003
      View Details
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    Edmond, OK 73003
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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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    828-840 Edmond Rd, Edmond, OK, 73003
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