Medical Office
For Sale
$1,400,000
1221 G St NW, Ardmore, OK 73401
C1-zoned medical property near Mercy Hospital and the YMCA.
Property Size5,579 SF
Price / SF$250.94
Days on Market19
Property Features for 1221 G St NW
General Information
Standard status
Active
Size
5,579 SF
Building Details
Year Built
1970
Listing Agency:
I Sell Houses Real Estate Co
(580) 222-7811
Listed By:
Kori J Thompson · License #180730
Source:
Cheathamrealty
Added: Aug 13
Changed: Aug 30
Last Checked: Aug 25 at 4:16AM
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 I Sell Houses Real Estate Co
Investment Insights
Based on property information with market context.
This medical office property was built in 1970 and is designated C1. Its location near Mercy Hospital and the YMCA places it within an established healthcare-oriented setting in Ardmore, Oklahoma.
The property is located at 1221 G Street NW, providing a defined address for a medical practice or related office use.
The property is located at 1221 G Street NW, providing a defined address for a medical practice or related office use.
Key Highlights
- Medical office property built in 1970
- C1 zoning
- Near Mercy Hospital
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
$74,111
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
5.29%
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%
$1,482,220
$1.5M
Cap Rate 7%
$1,058,729
$1.1M
Cap Rate 9%
$823,456
$823.5K
Market Conditions
NOI Build-Up for 5,579 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
$120.5K $21.60/SF
− Vacancy
−$21.7K −$3.89/SF
EGI
$98.8K $17.71/SF
− OpEx
−$24.7K −$4.43/SF
NOI
$74.1K $13.28/SF
Area
Carter County, OK
Vacancy
18.00%
Lease Rate
$21.60 /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%
$1,482,220
Cap Rate 7%
$1,058,729
Cap Rate 9%
$823,456
Alternative Uses
Best Use
Office B
$1.06M
$926.4K – $1.24M
NOI $74,111 @ 7.0% cap · market cap 5.29%
Second Best
Healthcare Medical
$911.1K
$797.2K – $1.06M
NOI $63,776 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,154 @ 7.0% cap · market cap 7.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
898
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 73401, OK
36,744
Population
16,349
Households
2.2
Avg Household Size
41
Median Age
23%
College-Educated
88%
High-School Grad
351.5 sq mi
ZIP Area
105
Density / Sq Mi
$60,288
Median Household Income
$39,005
Median Earnings
$960
Median Rent
$174,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - C1-zoned medical property near Mercy Hospital and the YMCA.
Where is this medical office space located?
The property is located at 1221 G St NW Ardmore, OK.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Medical office property built in 1970; C1 zoning; Near Mercy Hospital
