Medical Office Suite with Dental
For Sale
$490,000
1212 S Air Depot Boulevard, Oklahoma City, OK 73110
Commercial Sale, Oklahoma City, OK
Property Size4,238 SF
Lot Size0.24 Acres
Price / SF$115.62
Days on Market42
Property Features for 1212 S Air Depot Boulevard
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Commercial
Standard status
Active
APN
1212SAirDepot17&1973110
Size
4,238 SF
Lot size
0.24 Acres
Amenities
professional storefront
signage opportunities
Building Details
Year built
1979
Listing Agency:
LIME Realty
(405) 254-6310
Listed By:
Janice Foust · License #206542
(405) 394-1236
Added: Jul 25
Changed: Aug 20
Last Checked: Sep 4 at 11:06PM
MLS# 1240651
Copyright © 2026 MLSOK, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This medical office suite encompasses 4,238 square feet within a 0.2424-acre property built in 1979. The interior includes exam and therapy rooms, private offices, and larger meeting areas that can be reconfigured for professional operations. Dental office equipment is available separately for sale or lease. Several smaller offices are currently subleased on month-to-month terms, and each suite in the property has individual ownership and separate meters.
The property is located on S. Air Depot Boulevard in Oklahoma City, between Reno Avenue and SE 15th Street. It is less than one mile from Tinker Air Force Base and Rose State College, near Town Center Plaza, with access to I-40, I-35, and Will Rogers World Airport, approximately 20 minutes away. On-site parking and storefront signage opportunities are also available.
The property is located on S. Air Depot Boulevard in Oklahoma City, between Reno Avenue and SE 15th Street. It is less than one mile from Tinker Air Force Base and Rose State College, near Town Center Plaza, with access to I-40, I-35, and Will Rogers World Airport, approximately 20 minutes away. On-site parking and storefront signage opportunities are also available.
Key Highlights
- 4,238 square feet on a 0.2424‑acre property
- Dental office equipment available for sale or lease
- Exam rooms, therapy rooms, private offices, and larger meeting areas
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$25,765
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.26%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$515,300
$515.3K
Cap Rate 7%
$368,071
$368.1K
Cap Rate 9%
$286,278
$286.3K
Market Conditions
NOI Build-Up for 4,238 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$38.1K $9.00/SF
− Vacancy
−$1.3K −$0.32/SF
EGI
$36.8K $8.69/SF
− OpEx
−$11.0K −$2.61/SF
NOI
$25.8K $6.08/SF
Area
Oklahoma City, OK
Vacancy
3.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$515,300
Cap Rate 7%
$368,071
Cap Rate 9%
$286,278
Alternative Uses
Best Use
Office B
$861.4K
$753.7K – $1.00M
NOI $60,295 @ 7.0% cap · market cap 12.31%
Second Best
Healthcare Medical
$855.9K
$748.9K – $998.6K
NOI $59,913 @ 7.0% cap · market cap 12.23%
Theoretical Best
Specialty Retail
$1.45M
$1.27M – $1.69M
NOI $101,458 @ 7.0% cap · market cap 20.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
737
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 73110, OK
33,156
Population
15,826
Households
2.1
Avg Household Size
35
Median Age
20%
College-Educated
91%
High-School Grad
15.5 sq mi
ZIP Area
2,139
Density / Sq Mi
$50,436
Median Household Income
$35,043
Median Earnings
$1,007
Median Rent
$119,900
Median Home Value
Market
Vacancy Rate% for Office in Oklahoma City, OK
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Configured with exam rooms, offices, and larger meeting areas for adaptable professional use.
Where is this medical office space located?
The property is located at 1212 S Air Depot Boulevard Oklahoma City, OK.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: 4,238 square feet on a 0.2424‑acre property; Dental office equipment available for sale or lease; Exam rooms, therapy rooms, private offices, and larger meeting areas
