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701 S Kelly Ave 6,750 SF 100% Leased Retail Building Edmond, OK 73003 $3,397,500 CAD ($503.33 CAD/SF) 5.28% 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 |
$139,433
|
$20.66
|
| Other Income |
$12,231
|
$1.81
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$151,664
|
$22.47
|
| Taxes |
$7,371
|
$1.09
|
| Operating Expenses |
$9,421
|
$1.40
|
| Total Expenses |
$16,792
|
$2.49
|
| Net Operating Income |
$134,873
|
$19.98
|
Financial Summary (Pro Forma - 2022)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $139,433 |
| Annual Per SF | $20.66 |
| Other Income (CAD) | |
|---|---|
| Annual | $12,231 |
| Annual Per SF | $1.81 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $151,664 |
| Annual Per SF | $22.47 |
| Taxes (CAD) | |
|---|---|
| Annual | $7,371 |
| Annual Per SF | $1.09 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $9,421 |
| Annual Per SF | $1.40 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $16,792 |
| Annual Per SF | $2.49 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $134,873 |
| Annual Per SF | $19.98 |
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
6,750 SF
Building Class
C
Year Built/Renovated
1984/2015
Price
$3,397,500 CAD
Price Per SF
$503.33 CAD
Cap Rate
5.28%
NOI
$179,388 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
- $19.03 CAD
- Full Service
- May 2027
- Crystal massage.
- Health Care and Social Assistance
- 1,250 SF
- $26.09 CAD
- Full Service
- Nov 2021
- DMG Enterprises
- Management of Companies and Enterprises
- 1,250 SF
- $33.97 CAD
- Full Service
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Christ Thrift Store | Retailer | 3,900 SF | $19.03 CAD | Full Service | May 2027 | |
| Crystal massage. | Health Care and Social Assistance | 1,250 SF | $26.09 CAD | Full Service | Nov 2021 | |
| DMG Enterprises | Management of Companies and Enterprises | 1,250 SF | $33.97 CAD | Full Service | - |
Nearby Major Retailers
Property Taxes
| Parcel Number | 182554500 | Total Assessment | $93,153 CAD (2025) |
| Land Assessment | $16,070 CAD (2025) | Annual Taxes | $7,371 CAD ($1.09 CAD/SF) |
| Improvements Assessment | $77,082 CAD (2025) | Tax Year | 2022 Payable 2022 |
Property Taxes
Parcel Number
182554500
Land Assessment
$16,070 CAD (2025)
Improvements Assessment
$77,082 CAD (2025)
Total Assessment
$93,153 CAD (2025)
Annual Taxes
$7,371 CAD ($1.09 CAD/SF)
Tax Year
2022 Payable 2022
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Presented by
DMG Enterprises
701 S Kelly Ave
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