Three-Building Office
For Sale
Contact for pricing
1121 S Douglas Blvd, Midwest City, OK 73130
Multi-tenant office portfolio with three buildings, offered for sale or lease in Midwest City.
Property Size29,318 SF
Price / SF$153.49
Days on Market164
Property Features for 1121 S Douglas Blvd
General Information
Standard status
Active
Size
29,318 SF
Property subtype
OFFICE
Building Details
Buildings
3
Tenancy
Multi
Listing Agency:
Creek Price Edwards and Company - Oklahoma City
(405) 843-7474
Listed By:
Tyler Huxley
(405) 973-8435
Source:
Moodyscre
Added: Mar 23
Changed: Aug 31
Last Checked: Sep 1 at 10:53PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Creek Price Edwards and Company - Oklahoma City
Investment Insights
Based on property information with market context.
This offering includes three multi-tenant office buildings comprising 29,318 square feet in total. The properties are presented together as an office portfolio and are available for either sale or lease.
The portfolio is located at 1121 S Douglas Blvd in Midwest City, Oklahoma. Its multi-building configuration provides office space across three separate improvements within one offering.
The portfolio is located at 1121 S Douglas Blvd in Midwest City, Oklahoma. Its multi-building configuration provides office space across three separate improvements within one offering.
Key Highlights
- Three multi‑tenant office buildings included
- 29,318 square feet of total property size
- Available for sale or lease
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
$331,558
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
7.37%
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%
$6,631,160
$6.6M
Cap Rate 7%
$4,736,543
$4.7M
Cap Rate 9%
$3,683,978
$3.7M
Market Conditions
NOI Build-Up for 29,318 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
$489.0K $16.68/SF
− Vacancy
−$46.9K −$1.60/SF
EGI
$442.1K $15.08/SF
− OpEx
−$110.5K −$3.77/SF
NOI
$331.6K $11.31/SF
Area
Oklahoma County, OK
Vacancy
9.60%
Lease Rate
$16.68 /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%
$6,631,160
Cap Rate 7%
$4,736,543
Cap Rate 9%
$3,683,978
Alternative Uses
Best Use
Office B
$4.74M
$4.14M – $5.53M
NOI $331,558 @ 7.0% cap · market cap 7.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.11M
$5.34M – $7.12M
NOI $427,448 @ 7.0% cap · market cap 9.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
472
Businesses Nearby
Explore this area
Business Placement
Demographics for 73130, OK
21,536
Population
9,222
Households
2.3
Avg Household Size
39
Median Age
29%
College-Educated
94%
High-School Grad
10.0 sq mi
ZIP Area
2,154
Density / Sq Mi
$69,617
Median Household Income
$41,798
Median Earnings
$1,143
Median Rent
$195,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Multi-tenant office portfolio with three buildings, offered for sale or lease in Midwest City.
Where is this office building located?
The property is located at 1121 S Douglas Blvd Midwest City, OK.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Three multi‑tenant office buildings included; 29,318 square feet of total property size; Available for sale or lease
