Two-Building Office
For Sale
$950,000
3701 N Meridian Avenue, Oklahoma City, OK 73112
Commercial Sale, Oklahoma City, OK
Property Size3,708 SF
Lot Size0.30 Acres
Price / SF$256.20
Days on Market86
Property Features for 3701 N Meridian Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Directions
On the corner of N. Meridian Avenue and NW 36th street.
Standard status
Active
APN
3701NMeridian73112
Size
3,708 SF
Lot size
0.30 Acres
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1978
Floors in Building
1
Listing Agency:
Senemar & Associates
(405) 724-7003
Listed By:
Mitra Senemar · License #143837
(405) 834-2158
Added: Jun 11
Changed: Aug 21
Last Checked: Sep 4 at 9:06AM
MLS# 1229443
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 commercial office property includes two separate buildings at 3701 N. Meridian Avenue and 3705 N. Meridian Avenue in Oklahoma City. The improvements contain five suites, including four occupied spaces and one vacant suite, creating a combination of existing tenancy and available space. Commercial zoning supports office-oriented use, while natural gas heating, central air, electric cooling, public water, and public sewer serve the property.
The site occupies the corner of NW 36th Street and North Meridian Avenue within an established commercial corridor. Surrounding uses include medical, institutional, and professional operations, with residential neighborhoods nearby. Access to major arterial roads supports connectivity throughout northwest Oklahoma City. The buildings were constructed in 1978 and occupy a 0.3013-acre parcel.
The site occupies the corner of NW 36th Street and North Meridian Avenue within an established commercial corridor. Surrounding uses include medical, institutional, and professional operations, with residential neighborhoods nearby. Access to major arterial roads supports connectivity throughout northwest Oklahoma City. The buildings were constructed in 1978 and occupy a 0.3013-acre parcel.
Key Highlights
- Two buildings at 3701 N. Meridian Avenue and 3705 N. Meridian Avenue
- Five suites total; four occupied and one vacant
- 0.3013‑acre commercial‑zoned property
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
$52,754
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
5.55%
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%
$1,055,080
$1.1M
Cap Rate 7%
$753,629
$753.6K
Cap Rate 9%
$586,156
$586.2K
Market Conditions
NOI Build-Up for 3,708 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
$92.6K $24.96/SF
− Vacancy
−$22.2K −$5.99/SF
EGI
$70.3K $18.97/SF
− OpEx
−$17.6K −$4.74/SF
NOI
$52.8K $14.23/SF
Area
Oklahoma City, OK
Vacancy
24.00%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
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%
$1,055,080
Cap Rate 7%
$753,629
Cap Rate 9%
$586,156
Alternative Uses
Best Use
Office B
$753.6K
$659.4K – $879.2K
NOI $52,754 @ 7.0% cap · market cap 5.55%
Second Best
Healthcare Medical
$748.9K
$655.3K – $873.7K
NOI $52,421 @ 7.0% cap · market cap 5.52%
Theoretical Best
Specialty Retail
$1.27M
$1.11M – $1.48M
NOI $88,770 @ 7.0% cap · market cap 9.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Office units
Location Intelligence
Trade Area within ½ mile
621
Businesses Nearby
Explore this area
Business Placement
Demographics for 73112, OK
31,113
Population
16,413
Households
1.9
Avg Household Size
37
Median Age
35%
College-Educated
91%
High-School Grad
7.6 sq mi
ZIP Area
4,094
Density / Sq Mi
$57,833
Median Household Income
$39,641
Median Earnings
$1,030
Median Rent
$173,100
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?
Office building - Commercial-zoned asset with five suites, four occupied and one available for leasing or owner occupancy.
Where is this office building located?
The property is located at 3701 N Meridian Avenue Oklahoma City, OK.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Two buildings at 3701 N. Meridian Avenue and 3705 N. Meridian Avenue; Five suites total; four occupied and one vacant; 0.3013‑acre commercial‑zoned property
