Salad and Go (GL)

2525 North Kelly Avenue, Edmond, OK 73003

$1,700,000

Cap Rate 6.47%

$1,833,000

Cap Rate 6.00%

DOM: 56 Updated: 01.22.24 Posted: 10.27.23 Status: Sold 12.22.23

Summary

Price $1,700,000 $1,833,000	Built/Renov 2023	Tenant Salad and Go (GL)
Cap Rate 6.47% 6.00%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 585	Lease Start 12-01-2023	#Units 103
Price/SF $2,905.98 $3,133.33	Expiration 11-30-2043	Tenant Type Fast Food/QSR
NOI $110,000	R. Term 18.6	Ownership Ground Lease
Rent/SF $188.03	Increases 10.0%/5/yrs	Pop 5Mi 141,779
Lot/AC 0.97	Options 4/5yrs/10%	AHHI 5Mi $124,538

Lease Highlights

Brand new 2023 construction
Salad and Go recently signed a brand-new 20-year lease with 4 (5-yer) options
Lease features 10% rental increases every 5 years throughout the initial term and at the start of each option
Absolute NNN | Zero landlord responsibilities
Corporate guarantee by And Go Concepts, LLC

Location Description

Salad And Go is strategically situated on North Kelly Avenue, in close proximity to the intersection with West Covell Road, with a combined daily traffic count of 36,000 vehicles. The property is surrounded by several notable national retailers, including Walgreens, Lowe's, State Farm, Hobby Lobby, and Starbucks. Furthermore, it's located adjacent to Mercy Urgent Care, the University of...

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Key Features

New construction
Dense retail corridor
Near major nationals
Strategically located
Strong tenant synergy
Top 100 MSA
Strong demographics
Brand new lease
Long 20+ yr lease
Corporate Guarantee

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Links

Salad and Go Wikipedia Salad and Go Wikipedia Edmond, Oklahoma Zip Code 73003 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Salad and Go
Guarantor:Corporate
Company:And Go Concepts, LLC
# Units:103
Stock:Private

About Tenant

Founded in 2013 in Gilbert AZ, Salad and Go is a gourmet salad drive-thru restaurant chain located throughout the Phoenix Valley. The chain’s mission is to make ready-to-eat food available and...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	8,555	69,736	151,864
2023 Total Population :	8,586	68,009	147,318
2023 Employed Civilian Pop :	4,054	35,340	76,517
2023 Total Businesses :	237	2,611	5,893
2023 Average Household Income :	$ 121,968	$ 125,986	$ 129,068
2023 Total Consumer Spending :	$ 338 M	$ 2787 M	$ 6036 M
2023 Median Age :	37	36	36
2023 Total Households :	3,277	25,950	54,838
2023 Pop Age 25+: Bachelor's Degree :	1,763	15,187	34,028
2023 Average Home Value :	$ 310,936	$ 319,974	$ 320,706

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
N Kelly Ave	W Covell Rd	2011	13,042	0.05 mi
W Covell Rd	N Kelly Ave	2015	17,116	0.20 mi
W Covell Rd	Mathis Brothers Skate Park	2016	15,736	0.24 mi
N Kelly Ave	Prairie Village Dr	2016	17,151	0.28 mi
North Kelly Avenue	Covell Village Dr	2019	20,500	0.34 mi
West Covell Road		2019	15,600	0.42 mi
W Covell Rd	Shortgrass Rd	2011	12,473	0.45 mi
W Covell Rd	Kiowa Dr	2012	8,157	0.51 mi
West Covell Road		2019	12,900	0.51 mi
N Kelly Ave	Hollowdale	2011	10,432	0.55 mi

Listing Broker

Bill Asher

Hanley Investment Group

Contact

151 Listings
27524 Views
75 Sold

Jeff Lefko

Hanley Investment Group

Contact

151 Listings
26797 Views
78 Sold

Bill Asher

Bill Asher specializes in advising clients in the acquisition and disposition of retail properties nationwide. With over 20 years of experience in commercial real estate, his transaction expertise, industry relationships, and unparalleled professionalism have allowed him to close and contribute to more than $2 billion in sales, including over 550 sales in the last 10 years. Bill’s dedication and unwavering commitment to his clients have made him one of the top agents at the company earning him

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Jeff Lefko

As Executive Vice President at Hanley Investment Group, Jeff Lefko specializes in advising clients in the acquisition and disposition of retail properties nationwide. Jeff is focused on developing meaningful relationships that go beyond a singular transaction by proactively advising his clients to help achieve their long-term financial goals and objectives. Jeff’s commitment to his clients has allowed him to close over $1.5 billion in sales since 2017, which included 114 transactions va

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