Investment Offering
Edmond, OK - Two-Tenant Retail Pad
1200 & 1288 E. 15th St | Edmond, OK 73013
Price
10,000
± SF Offering GLADescription
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, drive-
thru equipped, freestanding, Andy’s Frozen Custard and NN leased, corporate guaranteed, The Learning Experience investment property located in Edmond, Oklahoma (Oklahoma City MSA). The tenant, Ranchers Custard Company LLC, recently signed a brand new 20-year lease with 4 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease features 1.5% annual rental increases throughout the initial term and option periods, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities. The tenant, TLE at Edmond, LLC, recently signed a brand new 15-year lease with 2 (5-year) options, demonstrating their commitment to the site. The lease features 8% rental increases every 5 years throughout the initial term and options. The lease is guaranteed by the corporate entity and is NN with limited landlord responsibilities, making this an ideal, low-management investment opportunity for a passive investor.
Location
The investment is strategically located along 15th Street with clear visibility and access to an average of 23,400 vehicles passing by daily. The asset benefits from direct access onto U.S. Highway 77 (54,100 VPD), Interstate 35 (76,200 VPD), and other major routes, making this a centralized location with easy access for customers and employees. The asset is ideally situated in a dense retail trade area being in close proximity to Spring Creek Village (99K+ SF), Edmond Plaza (140K+ SF), Edmond Crossing (174K+ SF), and other major shopping centers. The nearby national/credit tenants include Starbucks, Target, Lowe’s Home Improvement, Walmart Supercenter, Petco, Sam’s Club, Chick-Fil-A, and more. In addition, the subject is within direct proximity to numerous schools including Will Rogers Elementary, Clegern Elementary, Russell Dougherty School, Ida Freeman Elementary, and others, providing a direct consumer base. Furthermore, the property is near numerous single-family communities and multi-family complexes including Windrush (160 units), Spring Creek (252 units), Coffee Creek (256 units), and others, providing a direct residential consumer base. The 5-mile trade area is supported by over 133,500 residents and 60,000 daytime employees, with an affluent average household income of $121,980.
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215