Medical Office Facility with Storm
For Sale
$1,900,000
14500 S Western Avenue, Oklahoma City, OK 73170
Commercial Sale, Oklahoma City, OK
Property Size9,374 SF
Price / SF$202.69
Days on Market71
Property Features for 14500 S Western Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Commercial
Directions
From SW 149th St head north on S Western Ave on the East side of the street
Standard status
Active
APN
14500SWestern73170
Size
9,374 SF
Amenities
large rooms
nine bathrooms
dedicated fenced-in outdoor area
massive permitted storm shelter with 170-person capacity
Building Details
Year built
2016
Listing Agency:
LRE Realty, LLC
(405) 285-5750
Listed By:
Tara Levinson · License #145328
(405) 414-8750
Added: Jun 26
Changed: Aug 19
Last Checked: Sep 4 at 9:06AM
MLS# 1236466
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 9,374-square-foot medical office facility was built in 2016 and carries Commercial zoning. The interior includes large rooms and nine bathrooms, while a dedicated fenced outdoor area adds functional exterior space. A permitted storm shelter accommodates up to 170 people and is a prominent component of the building’s infrastructure.
The property is located at 14500 S Western Avenue in Oklahoma City, near Orr Family Farm. Its layout is suited to medical office operations, professional offices, private school use, or a learning center, as identified for the property. The existing facility is an active business, with showings available by appointment.
The property is located at 14500 S Western Avenue in Oklahoma City, near Orr Family Farm. Its layout is suited to medical office operations, professional offices, private school use, or a learning center, as identified for the property. The existing facility is an active business, with showings available by appointment.
Key Highlights
- 9,374‑square‑foot building completed in 2016
- Permitted storm shelter with 170‑person capacity
- Nine bathrooms and large interior rooms
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
$124,187
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
6.54%
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%
$2,483,740
$2.5M
Cap Rate 7%
$1,774,100
$1.8M
Cap Rate 9%
$1,379,856
$1.4M
Market Conditions
NOI Build-Up for 9,374 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
$225.0K $24.00/SF
− Vacancy
−$18.0K −$1.92/SF
EGI
$207.0K $22.08/SF
− OpEx
−$82.8K −$8.83/SF
NOI
$124.2K $13.25/SF
Area
ZIP 73170
Vacancy
8.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
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%
$2,483,740
Cap Rate 7%
$1,774,100
Cap Rate 9%
$1,379,856
Alternative Uses
Best Use
Healthcare Medical
$1.77M
$1.55M – $2.07M
NOI $124,187 @ 7.0% cap · market cap 6.54%
Second Best
Office B
$1.65M
$1.44M – $1.92M
NOI $115,413 @ 7.0% cap · market cap 6.07%
Theoretical Best
Specialty Retail
$3.81M
$3.34M – $4.45M
NOI $266,892 @ 7.0% cap · market cap 14.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
99
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 73170, OK
41,343
Population
16,658
Households
2.5
Avg Household Size
40
Median Age
37%
College-Educated
94%
High-School Grad
21.0 sq mi
ZIP Area
1,969
Density / Sq Mi
$92,403
Median Household Income
$44,653
Median Earnings
$1,525
Median Rent
$249,800
Median Home Value
Market
Vacancy Rate% for Office in Oklahoma City, OK
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Boyer Capstone Veterinary Care — 13500 S Western Ave, Oklahoma City, OK 73170
Frequently Asked Questions
What type of property is this?
Medical Office Space - Nine bathrooms and a fenced outdoor area support flexible institutional and professional layouts.
Where is this medical office space located?
The property is located at 14500 S Western Avenue Oklahoma City, OK.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 9,374‑square‑foot building completed in 2016; Permitted storm shelter with 170‑person capacity; Nine bathrooms and large interior rooms
