Dynamic Asset with Ideal Multi-Tenant Ability | 1900 E 15th St
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Dynamic Asset with Ideal Multi-Tenant Ability 1900 E 15th St
7,585 SF 37% Leased Office Building Online Auction Sale Edmond, OK 73013
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INVESTMENT HIGHLIGHTS
- Prime 7,585-SF brick office building ideally positioned over a 0.713-acre lot with ample surface parking and recognizable signage in Edmond, OK.
- Versatile acquisition occupied by one tenant with the unique opportunity for a value-add investor or owner/user seeking to leverage the vacancy.
- Beneficially encircled by an affluent and highly skilled workforce within a 5-mile radius where the average household income is a noteworthy $113,424.
- Situated with ideal proximity to the US Route 77 and Interstate 344 interchange and 6.5 miles from the Interstates 35 and 44 junction.
- Close to amenities such as Target, Walmart, Sam’s Club, Aldi, Family Dollar, Chick-fil-A, Dunkin’, Starbucks, Whataburger, and many more.
EXECUTIVE SUMMARY
Attractively located in the Turtlecreek Professional Village down 15th Street from S Bryant Avenue with easy access to Interstate 35, this impressive two-story brick veneer office building is in Edmond, Oklahoma. 1900 E 15th Street, also renowned as Turtlecreek Building 600, is a 7,585-square-foot ADA-compliant property situated over a 0.713-acre lot with ample on-site surface parking welcomed by prominent monument signage upon entrance. Built in 1993, the well-maintained building boasts a non-traditional home office feel with two staircases and is currently home to a singular tenant occupying a 2,038-square-foot suit. The remaining 5,547 square feet of space provide a desirable value-add opportunity to lease to a new tenancy at desirable market rents or allow an owner/user to utilize the premier workspace for their own business use.
1900 E 15th Street is primely situated within the Oklahoma City metropolitan area with a less than 14-mile commute to Downtown OKC. The property features easy accessibility as it is positioned 4.6 miles north of the US Route 77 and Interstate 344 highway interchange and 6.5 miles from the Interstate 35 and 44 junction. The building also benefits from its quick 3-mile proximity to convenient workforce amenities, including Walmart Supercenter, Target, Sam’s Club, Sprouts, Aldi, Family Dollar, Chick-fil-A, Dunkin’, Starbucks, Whataburger, and many more.
Excellently surrounding the property within a 5-mile radius is a highly educated workforce where 50% of the 115,035 residents have a bachelor’s degree or higher surpassing the national average of 35%. This growing and affluent population has a median age range of 34 to 37 and brings home an average household income of more than $113,000.
1900 E 15th Street is preferably positioned in the Edmond office submarket, which has experienced annual rent increases and no recent construction ensuring zero supply-side pressures. Acquire this asset with dynamic opportunities to build revenue through the optionality of being either an investor seeking to add value or owner/user in the remaining space.
Property tours are available by appointment only. Please contact the broker to schedule.
1900 E 15th Street is primely situated within the Oklahoma City metropolitan area with a less than 14-mile commute to Downtown OKC. The property features easy accessibility as it is positioned 4.6 miles north of the US Route 77 and Interstate 344 highway interchange and 6.5 miles from the Interstate 35 and 44 junction. The building also benefits from its quick 3-mile proximity to convenient workforce amenities, including Walmart Supercenter, Target, Sam’s Club, Sprouts, Aldi, Family Dollar, Chick-fil-A, Dunkin’, Starbucks, Whataburger, and many more.
Excellently surrounding the property within a 5-mile radius is a highly educated workforce where 50% of the 115,035 residents have a bachelor’s degree or higher surpassing the national average of 35%. This growing and affluent population has a median age range of 34 to 37 and brings home an average household income of more than $113,000.
1900 E 15th Street is preferably positioned in the Edmond office submarket, which has experienced annual rent increases and no recent construction ensuring zero supply-side pressures. Acquire this asset with dynamic opportunities to build revenue through the optionality of being either an investor seeking to add value or owner/user in the remaining space.
Property tours are available by appointment only. Please contact the broker to schedule.
OFFERING MEMORANDUM Click Here to Access
DATA ROOM Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Title and Insurance
MARKET ANALYTICS Click Here to Access
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Market Sale Price per SF
Oklahoma City - OK USA
Market Cap Rate
Oklahoma City - OK USA
Market Sale Price per SF by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Cap Rate by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Sale Price per SF Distribution
Market Cap Rate Distribution
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Office
Building Size
7,585 SF
Building Class
B
Year Built
1993
Percent Leased
37%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
3,793 SF
Building FAR
0.25
Lot Size
0.71 AC
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
8,608
58,819
115,035
2020 Population
9,016
61,123
119,151
2029 Population
8,742
59,825
117,088
2024-2029 Projected Population Growth
1.6%
1.7%
1.8%
Daytime Employees
3,195
35,483
58,350
Total Businesses
496
4,825
7,650
Average Household Income
$109,792
$102,121
$113,424
Median Household Income
$83,265
$74,794
$85,295
Total Consumer Spending
$118.5M
$774.3M
$1.6B
Median Age
36.0
35.2
36.8
2024 Households
3,420
23,864
44,606
Percent College Degree or Above
28%
27%
28%
Average Home Value
$292,247
$303,521
$329,667
$ values in USD
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $230,289 CAD | |
| Land Assessment | $10,495 CAD | Total Assessment | $240,785 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$10,495 CAD
Improvements Assessment
$230,289 CAD
Total Assessment
$240,785 CAD
SALE ADVISOR
SALE ADVISOR
Tyler Huxley, Partner
(405) 973-8435
Contact
Tyler Huxley is a partner at Creek CRE. He is active in all operations of Creek CRE including brokerage and development. Prior to founding Creek CRE Tyler was a sales and leasing director for Kevo Commercial. Tyler graduated from Oklahoma State University with a bachelor’s degree in both Marketing and Management.
ABOUT THE AUCTION PLATFORM
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
AUCTION CONTACT
Mary Humphreys
Contact
Auctioneer License:
Ten-X Arlene Richardson RE Brkr 149227
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VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
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Dynamic Asset with Ideal Multi-Tenant Ability | 1900 E 15th St
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