Updated Medical Office
For Sale
$299,000
1236 E Main St, Cushing, OK 74023
Flexible layout includes reception, waiting, conference, and support areas.
Property Size1,800 SF
Price / SF$166.11
Days on Market34
Property Features for 1236 E Main St
General Information
Standard status
Active
Size
1,800 SF
Building Details
Year Built
1986
Listing Agency:
C21/First Choice Realty
(405) 882-2957
Listed By:
Dana Cramer · License #173003
Source:
Cheathamrealty
Added: Jul 28
Changed: Aug 29
Last Checked: Aug 25 at 4:15AM
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 C21/First Choice Realty
Investment Insights
Based on property information with market context.
This 1986 medical office property includes five private offices, a reception area with greeting window, a waiting area, IT room, storage, and a large conference room. One office has a wash station and sink, while the interior has no weight-bearing walls to support reconfiguration. The layout was originally designed for medical or chiropractic use and was most recently leased as office space.
Recent improvements include luxury vinyl plank flooring, fresh paint, a remodeled bathroom, extra-wide handicap-accessible doorways, and a new roof re-coat. The property also carries a transferable Morton Buildings, Inc. warranty. Located at 1236 E Main Street in Cushing, the building has highway frontage along Main St./Hwy 33.
Recent improvements include luxury vinyl plank flooring, fresh paint, a remodeled bathroom, extra-wide handicap-accessible doorways, and a new roof re-coat. The property also carries a transferable Morton Buildings, Inc. warranty. Located at 1236 E Main Street in Cushing, the building has highway frontage along Main St./Hwy 33.
Key Highlights
- Five private offices plus reception, waiting, IT, storage, and conference areas
- Large conference room that can also function as a showroom
- No weight‑bearing interior walls allow space reconfiguration
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
$23,739
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
7.94%
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%
$474,780
$474.8K
Cap Rate 7%
$339,129
$339.1K
Cap Rate 9%
$263,767
$263.8K
Market Conditions
NOI Build-Up for 1,800 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
$35.2K $19.56/SF
− Vacancy
−$3.6K −$1.98/SF
EGI
$31.7K $17.58/SF
− OpEx
−$7.9K −$4.40/SF
NOI
$23.7K $13.19/SF
Area
Payne County, OK
Vacancy
10.10%
Lease Rate
$19.56 /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%
$474,780
Cap Rate 7%
$339,129
Cap Rate 9%
$263,767
Alternative Uses
Best Use
Office B
$339.1K
$296.7K – $395.7K
NOI $23,739 @ 7.0% cap · market cap 7.94%
Second Best
Healthcare Medical
$270.7K
$236.9K – $315.8K
NOI $18,949 @ 7.0% cap · market cap 6.34%
Theoretical Best
Office A
$442.6K
$387.3K – $516.4K
NOI $30,985 @ 7.0% cap · market cap 10.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
302
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 74023, OK
12,117
Population
5,474
Households
2.2
Avg Household Size
38
Median Age
16%
College-Educated
88%
High-School Grad
173.1 sq mi
ZIP Area
70
Density / Sq Mi
$48,859
Median Household Income
$34,202
Median Earnings
$759
Median Rent
$134,700
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?
Medical Office Space - Flexible layout includes reception, waiting, conference, and support areas.
Where is this medical office space located?
The property is located at 1236 E Main St Cushing, OK.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Five private offices plus reception, waiting, IT, storage, and conference areas; Large conference room that can also function as a showroom; No weight‑bearing interior walls allow space reconfiguration
