Office Suite with Dental-Ready
For Sale
$490,000
1212 Air Depot Boulevard, Oklahoma City, OK 73110
Individually metered office suites in Continental Square, zoned C-3 and configured for medical or flex use.
Property Size4,238 SF
Price / SF$115.62
Days on Market31
Property Features for 1212 Air Depot Boulevard
General Information
Standard status
Active
Size
4,238 SF
Property subtype
Office
Zoning
C-3
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
2
Taxes and HOA fees
Annual Taxes
$3,221
Amenities
professional storefront
signage opportunities
3
Building Details
Year Built
1979
Tenancy
Multi
Listing Agency:
LIME Realty
(405) 394-1236
Listed By:
Janice Foust · License #206542
(405) 394-1236
Source:
Xome
Added: Jul 12
Changed: Aug 9
Last Checked: Aug 11 at 5:50AM
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 LIME Realty
Investment Insights
Based on property information with market context.
This offering includes office suites within Continental Square, presented in excellent condition and ready for immediate occupancy. The combined layout features smaller exam/therapy rooms alongside larger meeting areas, with additional small offices described as currently subleased on a month-to-month basis. Dental office equipment is also noted as available for sale or lease, supporting a turnkey dental opportunity.
The suites are positioned on the east side of S. Air Depot Blvd., between Reno Ave. and SE 15th St. Access is described as quick to I-40, I-35, and Will Rogers World Airport, with the property also identified as less than a mile from Tinker Air Force Base and Rose State College, near Town Center Plaza.
Each suite is individually owned with separate meters, and the property is described as having ample parking and professional storefront presence with signage opportunities. The site is zoned C-3 Commercial, providing flexibility for a range of business applications.
The suites are positioned on the east side of S. Air Depot Blvd., between Reno Ave. and SE 15th St. Access is described as quick to I-40, I-35, and Will Rogers World Airport, with the property also identified as less than a mile from Tinker Air Force Base and Rose State College, near Town Center Plaza.
Each suite is individually owned with separate meters, and the property is described as having ample parking and professional storefront presence with signage opportunities. The site is zoned C-3 Commercial, providing flexibility for a range of business applications.
Key Highlights
- 4,048 SF office/medical/flex suite in Continental Square (units #17 & #19) with exam/therapy rooms and larger meeting areas.
- Zoned C‑3 Commercial for a wide range of business applications.
- Individually owned suites with separate meters, supporting independent utilities and autonomy.
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
Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
76
Businesses Nearby
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Individually metered office suites in Continental Square, zoned C-3 and configured for medical or flex use.
Where is this office units located?
The property is located at 1212 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: 4,048 SF office/medical/flex suite in Continental Square (units #17 & #19) with exam/therapy rooms and larger meeting areas.; Zoned C‑3 Commercial for a wide range of business applications.; Individually owned suites with separate meters, supporting independent utilities and autonomy.
