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17332462
17332463

18 East 33rd Street, Edmond, OK 73013

DM
OK OK 212256, KS KS 00045197 (+1)
DDM Real Estate LLC
Listed by DDM Real Estate LLC
$24,540,000
13 days on market
Updated 13 days ago

Edmond Crossing

Details
APN R129211000, R129211010
Property Type Retail
Sub Type Shopping Center
Square Footage 160,817
Net Rentable (SqFt) 160,817
Units 19
Cap Rate 7.4%
NOI $1,815,855
Occupancy 91.8%
Tenancy Multi
Brand/Tenant Dollar Tree, McDonald's (+15)
Lease Type NNN
Rent Bumps Yes
Pro-Forma Cap Rate 8.34%
Pro-Forma NOI $2,046,415
Price per SqFt $153
Broker Co-Op Yes
Class B
Year Built 1995
Year Renovated 2020
Buildings 2
Stories 1
Acreage 15.010
Zoning E-1, Retail General Commercial
Parking Spaces 5.06 per 1,000 sq ft
Investment Type Value Add
Tenant Credit Credit Rated, Franchisee (+2)
Ground Lease No
Ownership Private Capital

Value Add through lease up

Marketing description

DDM Real Estate, LLC is pleased to offer for sale Edmond Crossing. Why Edmond Crossing? - ABOVE AVERAGE disposable income, merchant sales, quality tenant mix, tenant retention, vehicle traffic, ingress/egress, consumer foot traffic, visibility and parking. Edmond is a wealthy suburb of Oklahoma City (25th largest metro in the USA). Incomes in Edmond are more than 30% greater than the US average, and cost of living in OK City metro is nearly 15% less than the US average. This dynamic leaves Edmond consumers with an ABUNDANCE OF DISCRETIONARY INCOME. Edmond Crossing has tenants selling well above their average store across the USA (tenant with more than 1,000 stores). Approximately 1/2 of the income is paid by tenants with INVESTMENT GRADE CREDIT (S&P "BBB" or "A"). 70% of the income is from tenants with a national footprint. The average tenure of our tenants is over 15 years. Edmond Crossing is on the SEQ of Broadway Extension and 33rd Street with more than 66,000 vpd. The signalized main entrance to the center has nearly 30,000 vpd. With 11 full turn points of ingress/egress Edmond Crossings is consistently visited 1.9 million times annually which ranks higher than 99% of its peer group of nearly 20,000 centers in the USA (according to Placer-AI). With nearly 1/4 mile of frontage along 33rd street all tenant storefronts and signage have tremendous exposure. Edmond Crossing enjoys abundant parking with a more than 5 stalls per 1,000 sf. Superior merchant sales, quality tenants, visibility, access, consumer traffic within the center, signage, parking, and a demographic with copious amounts of discretionary income result in an investment for the discriminating investor.

Investment highlights

Edmond is a wealthy suburb of Oklahoma City (25th largest metro in the USA). Incomes in Edmond are more than 30% greater than the US average, and cost of living in OK City metro is nearly 15% less than the US average. This dynamic leaves Edmond consumers with an ABUNDANCE OF DISCRETIONARY INCOME. Edmond Crossing has national tenants selling nearly 2x MORE than their average store across the USA.

  • List price is 60% below replacement cost (source: Cummings Midwest construction cost 2025).
  • 91.8% occupancy.
  • Below Market Rents - rents are 15% below market.
  • Renovated 2013 & 2020.
  • Complementary Tenant Mix - 78% of income is generated by national tenants, 10% regional and 12% local.
  • Average tenure of the current Edmond Crossing tenant is more than 15 years.
  • 5 tenants have called Edmond Crossing home since 1995 (31 years)
  • Investors will have the option of selling the pad ground leased to McDonald’s for a significantly lower cap rate than acquisition.
  • 69% of income is from investment grade tenants (S$P BBB or better)
  • WALT is 4 years 9 months

Listing Contacts

DM
OK OK 212256, KS KS 00045197 (+1)
DDM Real Estate LLC
Listed by DDM Real Estate LLC

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$1,815,855.00
$151,321.25/mo

Valuation Metrics

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DSCR
7.4%
Cap Rate
7.4%
ROI

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Additional Information

Name
Doug McFadden
License
OK 212256
Brokerage
DDM Real Estate
Brokerage Phone
(816) 868-1236
Title
Broker
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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