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701 S Kelly Ave 6,750 SF 100% Leased Retail Building Edmond, OK 73003 $3,458,475 CAD ($512.37 CAD/SF) 4.60% Cap Rate
INVESTMENT HIGHLIGHTS
- This property has exposure to heavy traffic and retail area.
- Good location for Owner/Occupied Cannabis dispensary and facility.
- New Roof
- Located at four-way stop light with easy access to Broadway Extension and Kilpatrick Turnpike.
- Updated AC, Plumbing and Electrical
- Updated Exterior
EXECUTIVE SUMMARY
Location, Location, Location! Built in 1984, this retail strip center is located at the cross-street intersection of Kelly Ave and 7th St and consists of four retail spaces, three of which are currently tenant-occupied. Out-building garages may be included and can be rented for approximately $750 per month. Owner Financing is available.
FINANCIAL SUMMARY (PRO FORMA - 2022) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$141,936
|
$21.03
|
| Other Income |
$12,451
|
$1.84
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$154,386
|
$22.87
|
| Taxes |
$7,504
|
$1.11
|
| Operating Expenses |
$9,590
|
$1.42
|
| Total Expenses |
$17,093
|
$2.53
|
| Net Operating Income |
$137,293
|
$20.34
|
FINANCIAL SUMMARY (PRO FORMA - 2022)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $141,936 |
| Annual Per SF | $21.03 |
| Other Income (CAD) | |
|---|---|
| Annual | $12,451 |
| Annual Per SF | $1.84 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $154,386 |
| Annual Per SF | $22.87 |
| Taxes (CAD) | |
|---|---|
| Annual | $7,504 |
| Annual Per SF | $1.11 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $9,590 |
| Annual Per SF | $1.42 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $17,093 |
| Annual Per SF | $2.53 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $137,293 |
| Annual Per SF | $20.34 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Building Size
6,750 SF
Building Class
C
Year Built/Renovated
1984/2015
Price
$3,458,475 CAD
Price Per SF
$512.37 CAD
Cap Rate
4.60%
NOI
$159,118 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.18
Lot Size
0.87 AC
Zoning
Commercial - Commercial
Parking
26 Spaces (3.86 Spaces per 1,000 SF Leased)
Frontage
200’ on Kelly
AMENITIES
- Signage
- Signalized Intersection
- Tenant Controlled HVAC
- Wheelchair Accessible
- Air Conditioning
ABOUT 701 S KELLY AVE , EDMOND, OK 73003
Built in 1984, this retail strip center is located at the cross-street intersection of Kelly Ave and 7th St and consists of four retail spaces, three of which are currently tenant-occupied. A total facelift was done September 2025.
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Christ Thrift Store
- Retailer
- 3,900 SF
- $19.37 CAD
- Full Service
- May 2027
- Crystal massage.
- Health Care and Social Assistance
- 1,250 SF
- $26.56 CAD
- Full Service
- Nov 2021
- DMG Enterprises
- Management of Companies and Enterprises
- 1,250 SF
- $34.58 CAD
- Full Service
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Christ Thrift Store | Retailer | 3,900 SF | $19.37 CAD | Full Service | May 2027 | |
| Crystal massage. | Health Care and Social Assistance | 1,250 SF | $26.56 CAD | Full Service | Nov 2021 | |
| DMG Enterprises | Management of Companies and Enterprises | 1,250 SF | $34.58 CAD | Full Service | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 182554500 | Total Assessment | $92,110 CAD (2024) |
| Land Assessment | $15,891 CAD (2024) | Annual Taxes | $7,504 CAD ($1.11 CAD/SF) |
| Improvements Assessment | $76,219 CAD (2024) | Tax Year | 2022 Payable 2022 |
PROPERTY TAXES
Parcel Number
182554500
Land Assessment
$15,891 CAD (2024)
Improvements Assessment
$76,219 CAD (2024)
Total Assessment
$92,110 CAD (2024)
Annual Taxes
$7,504 CAD ($1.11 CAD/SF)
Tax Year
2022 Payable 2022
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DMG Enterprises
701 S Kelly Ave
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