Medical Office Space with Two
For Sale
Contact for pricing
1101 W 15th St, Edmond, OK 73003
Medical office property with two buildings totaling 3,816 SF on a 0.38-acre lot.
Property Size3,816 SF
Lot Size0.38 Acres
Price / SF$258.12
Days on Market508
Property Features for 1101 W 15th St
General Information
Standard status
Active
Size
3,816 SF
Lot size
0.38 Acres
Property subtype
RETAIL
Building Details
Buildings
2
Listing Agency:
CBRE | Oklahoma City
(405) 272-5300
Listed By:
Stuart Graham
(405) 607-6027
Source:
Moodyscre
Added: May 2, 2025
Changed: Sep 4
Last Checked: Sep 20 at 5:24AM
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 CBRE | Oklahoma City
Investment Insights
Based on property information with market context.
Medical office space offered for sale, comprising two buildings totaling 3,816 SF. One building is 3,000 SF and the second is 816 SF, giving flexibility for a range of office or medical configurations within the same property.
The property sits on a 0.38-acre lot at 1101 W 15th St in Edmond, OK 73003. The offering is described as having office/medical capabilities, supporting use as medical or professional workspace.
With two separate buildings and a combined footprint of 3,816 SF, this property can be appealing for an end user looking for dedicated space or for a tenant seeking operational separation between programs while remaining on one site.
The property sits on a 0.38-acre lot at 1101 W 15th St in Edmond, OK 73003. The offering is described as having office/medical capabilities, supporting use as medical or professional workspace.
With two separate buildings and a combined footprint of 3,816 SF, this property can be appealing for an end user looking for dedicated space or for a tenant seeking operational separation between programs while remaining on one site.
Key Highlights
- Total size of 3,816 SF across two buildings
- Building size split of 3,000 SF plus 816 SF
- 0.38‑acre lot
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
$43,155
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
4.38%
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%
$863,100
$863.1K
Cap Rate 7%
$616,500
$616.5K
Cap Rate 9%
$479,500
$479.5K
Market Conditions
NOI Build-Up for 3,816 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
$63.7K $16.68/SF
− Vacancy
−$6.1K −$1.60/SF
EGI
$57.5K $15.08/SF
− OpEx
−$14.4K −$3.77/SF
NOI
$43.2K $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%
$863,100
Cap Rate 7%
$616,500
Cap Rate 9%
$479,500
Alternative Uses
Best Use
Office B
$616.5K
$539.4K – $719.3K
NOI $43,155 @ 7.0% cap · market cap 4.38%
Second Best
Healthcare Medical
$565.6K
$494.9K – $659.8K
NOI $39,590 @ 7.0% cap · market cap 4.02%
Theoretical Best
Office A
$794.8K
$695.5K – $927.3K
NOI $55,636 @ 7.0% cap · market cap 5.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,808
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 73003, OK
22,648
Population
9,760
Households
2.3
Avg Household Size
36
Median Age
42%
College-Educated
93%
High-School Grad
7.4 sq mi
ZIP Area
3,061
Density / Sq Mi
$76,957
Median Household Income
$45,176
Median Earnings
$1,338
Median Rent
$230,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Medical office property with two buildings totaling 3,816 SF on a 0.38-acre lot.
Where is this medical office space located?
The property is located at 1101 W 15th St Edmond, OK.
What is the asking price?
The asking price for this property is $985,000.
What are key features of this property?
This property features: Total size of 3,816 SF across two buildings; Building size split of 3,000 SF plus 816 SF; 0.38‑acre lot
