Oklahoma City Commercial Property
13501 Memorial Park Dr, Oklahoma City, OK 73120
118-unit commercial property ideal for senior living redevelopment.
Type:Hospitality
Property size:
68,480 SFPrice / SF:
$109/SF- Added:
- Feb 4, 2026
- Days on Market:
- 153
- Last Refresh:
- Jul 4 at 5:25 am
Property Features for 13501 Memorial Park Dr
General Information
- Standard status
- Active
- Size
- 68,480 SF
- Property subtype
- Hospitality
Building Details
- Year Built
- 2009
Listing office Keller Williams Realty
Listing date Feb 4, 2026
Source Crexi
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 Keller Williams Realty
HighLights
- Prime location in Oklahoma City's Quail Springs corridor with direct highway access and proximity to hospitals and retail.
- Turnkey infrastructure including elevators, commercial kitchen, pool, and handicap‑accessible design.
- Significant redevelopment potential for senior living, affordable housing, or mixed‑use, aligning with strong market demand.
- Recently renovated interiors (built 2009/2010).
- Lower conversion costs compared to new construction, creating exceptional value.
- Positioned to capitalize on expanding infrastructure, population growth, and increasing housing demand due to new Oklahoma City development.
Overview
This 118-unit commercial property, constructed in 2010 and featuring recently renovated interiors, is located in Oklahoma City's Quail Springs corridor. The 68,480 square foot property is positioned with direct highway access and proximity to major hospitals and retail areas. It is suitable for senior living or affordable housing redevelopment. The existing infrastructure includes elevators, a commercial kitchen, a pool, and handicap-accessible design. Planned new development in the surrounding Oklahoma City area may capitalize on expanding infrastructure, population growth, and increasing demand for diversified housing options. The property is suited for senior living, affordable housing, or mixed-use redevelopment, aligning with demographic and housing trends across the metro. This property presents investors and developers with a chance to secure a strategic footprint ahead of continued Oklahoma City expansion.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.11M | $16.20 |
| − Vacancy | −$64.3k | −$0.94 |
| EGI | $1.05M | $15.26 |
| − OpEx | −$470.3k | −$6.87 |
| NOI | $574.8k | $8.39 |
68,480 SF · lease $16.20/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$8.21M
$7.18M – $9.58M
NOI $574,768 @ 7.0% cap · market cap 7.66%
Second Best
Hotel Hospitality
$7.36M
$6.44M – $8.59M
NOI $515,244 @ 7.0% cap · market cap 6.87%
Theoretical Best
Office A
$16.48M
$14.42M – $19.23M
NOI $1,153,751 @ 7.0% cap · market cap 15.38%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Country Inn & Suites ...
Hotel & Motel
Location Insight
- Map
- Local Demand
- City
- Oklahoma City
- County
- Cleveland
- State
- Oklahoma
- Longitude
- -97.5828941
- Latitude
- 35.6076044
Nearby Similar for Sale
FAQs
What type of property is this?
Senior housing / Retirement Home - 118-unit commercial property ideal for senior living redevelopment.
Where is this senior housing / retirement home located?
The property is located at 13501 Memorial Park Dr Oklahoma City, OK.
What is the asking price?
The asking price for this property is $7,500,000.
What are key features of this property?
This property features: Prime location in Oklahoma City's Quail Springs corridor with direct highway access and proximity to hospitals and retail.; Turnkey infrastructure including **elevators, commercial kitchen, pool, and handicap‑accessible design.**; Significant redevelopment potential for senior living, affordable housing, or mixed‑use, aligning with strong market demand.
