- Price Range: Properties range from $379,000 to $3.9 million, with an average price of $260 per square foot.
- Sizes: Spaces vary from 1,947 to 13,162 square feet.
- Market Highlights:
- Edmond's industrial market is stable with competitive prices below national averages.
- Low vacancy rates (as low as 2.7% in the Midwest region) and steady demand.
- Average cap rate: 6.71%.
- Advantages:
- Over 10% lower cost of living compared to the national average.
- Access to a skilled workforce, with over 50% of residents holding a bachelor's degree.
- Safe environment with the lowest crime rate among Oklahoma's 10 largest cities.
- Proximity to major transportation routes and markets, just 13 miles north of Oklahoma City.
Quick Overview of Available Properties:
| Property Type | Size (SF) | Year Built | Price |
|---|---|---|---|
| Industrial Building | 12,680 | 2023 | $1,110,000 |
| Flex Building | 3,573 | 1987 | $5,950,000 |
| Industrial Building | 13,162 | 2024 | $3,900,000 |
Whether you're looking for new construction or established facilities, Edmond offers a range of options for businesses seeking affordable, well-located industrial spaces. Keep reading to learn how to evaluate properties, plan costs, and make the most of this growing market.
Current Market Status
Current Price and Demand
Despite economic challenges, Edmond's industrial market is holding steady, with $52 billion in U.S. industrial transactions recorded in 2023.
"If 2023's word of the year was 'normalization,' we are labeling 2024's motto as 'stabilization.' Stabilizing rent growth and deliveries, with enough positive economic undercurrents to have long-term projections remain optimistic but at a more sustainable level." - Peter Kolaczynski, Director, CommercialEdge
This steady demand keeps property costs competitive and ensures a range of space sizes available in Edmond.
Property Costs and Sizes
Industrial property costs and rents in Edmond remain competitive. Local prices are still below the national averages. For example, the national average sale price for industrial properties is $129 per square foot, while Midwest in-place rents are lower than the national average of $7.70 per square foot.
Here’s a snapshot of key market metrics:
| Metric | National Average | Midwest Region |
|---|---|---|
| In-place Rents (per sq ft) | $7.70 | Below $7.70 |
| Year-over-Year Rent Growth | 7.4% | Varies by market |
| Vacancy Rate | 4.6% | As low as 2.7% |
Return on Investment Data
With these cost trends, Edmond’s industrial properties offer strong potential for long-term value and opportunities for cash buyers. The market benefits from solid property fundamentals, while trends like reshoring and nearshoring in manufacturing are driving regional growth.
Looking ahead to 2024, Edmond’s market is expected to see moderate rental rate changes and a slight rise in vacancies. A slower pace of new supply will help maintain property values.
Available Properties
Current Listings
Edmond's industrial market currently offers 9 properties for sale, providing options across various sizes, price points, and construction dates:
- New Construction Options
- 13,162 SF industrial building (2024) – $3.9M
- 12,680 SF facility (2023) – $1.11M
- 1,947 SF industrial space (2023) – $379,000
- Established Properties
- 10,806 SF industrial building (2001) – $1.9M
- 4,955 SF facility (2001) – $849,000
- 3,900 SF flex building (2006) – $799,000
When evaluating these listings, consider key factors like infrastructure, location, and their potential for future growth to ensure a solid investment.
Property Requirements
When searching for industrial properties in Edmond, it's important to take into account several critical factors to determine their suitability and overall value:
- Infrastructure Needs
- Reliable electrical systems capable of supporting manufacturing
- Reinforced floors for heavy machinery and storage
- Adequate loading docks and parking spaces
- Appropriate clear heights for operational efficiency
- Location Factors
- Easy access to major transportation routes
- Strategic positioning for smooth supply chain operations
- Zoning compliance for your intended use
- Sufficient utility connections and capacity
- Expansion and Growth
- Space for future development or reconfiguration
- Flexible layouts to accommodate changing needs
- Storage capabilities to support business growth
- Parking availability for potential expansion
Edmond’s industrial spaces are designed to meet the needs of manufacturing and production operations, boasting features such as reinforced floors and robust power systems. Warehouses in the area also offer efficient layouts for storage and distribution, often enhanced by modern inventory management systems.
To get the most value, focus on properties that not only meet your current operational needs but also provide opportunities for expansion and adaptability as your business evolves.
Benefits of Edmond Industrial Property
Location Benefits
Edmond, situated just 13 miles north of Oklahoma City, offers industrial investors an ideal location with access to important markets and resources. Spanning 90 square miles, the city provides ample space for development while keeping necessary infrastructure close by. Within a 30-mile radius, businesses can tap into a workforce of 773,000, complemented by a highly educated local talent pool. Institutions like the University of Central Oklahoma and Oklahoma Christian University play a key role in maintaining this talent pipeline. Additionally, Edmond Electric, the city-owned power provider, ensures dependable service at competitive rates.
Cost Advantages
Edmond's industrial property market stands out for its cost efficiency compared to national averages:
| Cost Factor | Benefit |
|---|---|
| Cost of Living | Over 10% lower than the national average |
| Crime Rate | 14.94 per thousand – the lowest among Oklahoma's 10 largest cities |
| Power Costs | Affordable rates through Edmond Electric |
These cost savings, paired with a supportive business climate, make Edmond an attractive choice for industrial property investment. The Francis Tuttle Technology Center's Business Innovation Center, home to Launch Pad FT, adds further value by offering resources to support business expansion and development. Together, these factors create a strong foundation for businesses to thrive in Edmond.
Business Growth Examples
Edmond's industrial sector showcases steady growth, driven by targeted initiatives and strategic planning. According to 24/7 Wall Street:
"Named as one of America's 50 Best Cities to Live by 24/7 Wall Street, Edmond continues to grow in population, advance in education and enhance the quality of life of its citizens."
Tailored business assistance programs help companies stay competitive, while the presence of two universities and a technology center ensures a steady supply of skilled workers. This combination of cost efficiency, workforce development, and supportive infrastructure solidifies Edmond as a top choice for industrial property investment.
Buyer's Guide
Property Assessment Steps
When evaluating a property, focus on factors that impact both its current functionality and future potential. Pay attention to the layout, accessibility, and how well it meets operational needs - both now and in the future.
Key areas to assess:
| Category | What to Look For |
|---|---|
| Location Access | Check proximity to major transport routes like I-35 for efficient operations. |
| Building Features | Look for clear heights and dock doors that suit your needs. |
| Infrastructure | Ensure adequate power capacity and sprinkler systems are in place. |
| Site Coverage | Review the building-to-land ratio and available storage capacity. |
| Future Growth | Evaluate the property’s potential for automation or other upgrades. |
Once you’ve reviewed these aspects, allocate funds to handle both the initial investment and ongoing costs.
Cost Planning
Buying a property involves more than just the purchase price. Be prepared to budget for additional expenses.
Here’s what to consider:
- Initial Costs: This includes the purchase price, due diligence fees, and property inspections.
- Operating Costs: Factor in property taxes, insurance, utilities, maintenance reserves, and management fees.
- Renovation Funds: Set aside money for upgrades like building improvements, loading dock changes, office renovations, parking lot repairs, or adding security systems.
Proper financial planning ensures you’re ready for both expected and unexpected costs.
Professional Support
Navigating property acquisition can be complex. Trio CRE offers expert guidance to simplify the process:
- Help with site selection tailored to your operational needs.
- Assistance with local zoning requirements and permits.
- Development of financial proformas.
- Support with transaction management and closing processes.
With Trio CRE’s expertise, you’ll gain valuable insights for property evaluation and negotiation. Getting professional help early ensures a smooth process and thorough due diligence.
Commercial Property Tour | 5 Acres For Sale | Edmond ...
Summary
Edmond's industrial market offers a mix of affordability, convenient location, and strong growth opportunities, making it an appealing option for investors. The market features spaces ranging from 1,947 to 13,162 square feet, with an average price of $260 per square foot.
Located just 13 miles north of Oklahoma City, Edmond provides several practical benefits. These include competitive power rates from Edmond Electric and a well-educated workforce, with over half of the residents holding at least a bachelor's degree.
Here are some current property examples in the market:
| Property Type | Size (SF) | Year Built | Price |
|---|---|---|---|
| Industrial Building | 12,680 | 2023 | $1,110,000 |
| Flex Building | 3,573 | 1987 | $5,950,000 |
| Industrial Building | 13,162 | 2024 | $3,900,000 |
When evaluating industrial properties, pay attention to features like loading docks and utility access. Keep in mind the average cap rate of 6.71% to gauge potential returns. Edmond also supports businesses with resources like the Francis Tuttle Technology Center's Business Innovation Center, which can help foster growth and innovation.
With the right strategy and expert advice, investors can take advantage of these market dynamics to find properties that meet their business goals.
