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Building Details

Year Built 1986

Listing Agency: C21/First Choice Realty

Listed By: Dana Cramer · License #173003 Show Phone

Source: Cheathamrealty

Added: Jul 28 Changed: Oct 3 Last Checked: Oct 15 at 4:15AM

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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.

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 / Yr

$23,739

Cap Rate

7.94%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$474,780 $474.8K

Cap Rate 7%

$339,129 $339.1K

Cap Rate 9%

$263,767 $263.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,800 SF

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 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 (±1% cap)

NOI $23,739 @ 7.0% cap · market cap 7.94%

Second Best

Healthcare Medical

$270.7K

$236.9K – $315.8K (±1% cap)

NOI $18,949 @ 7.0% cap · market cap 6.34%

Theoretical Best

Office A

$442.6K

$387.3K – $516.4K (±1% cap)

NOI $30,985 @ 7.0% cap · market cap 10.36%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Medical Office Space

Suggested Use

Top Pick Real Estate Agency Dental Office Law Firm Big Box & Wholesale Store Hair Salon Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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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