Renovated End-Cap Office
New
For Sale
$215,000
13509 N Meridian Ave Suite 2, Oklahoma City, OK 73120
Office condominium with private work areas, kitchenette, restroom, and nearby healthcare, dining, retail, and service amenities.
Property Size1,000 SF
Days on Market2
Property Features for 13509 N Meridian Ave Suite 2
General Information
Standard status
Active
Size
1,000 SF
Class
B
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
1,000 SF
Year Built
1986
Listing Agency:
ADEPT Commercial Real Estate
(405) 831-0059
Listed By:
Cody Beat · License #182075
Source:
Adeptcre
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 22 at 6:35AM
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 ADEPT Commercial Real Estate
Investment Insights
Based on property information with market context.
Located at 13509 N Meridian Ave Suite 2, this office condominium provides a recently renovated setting within a medical and professional business corridor. The end-cap configuration offers convenient suite access and visibility, while the interior includes a reception area, three private offices, a private restroom, and a kitchenette.
The property is directly across from Mercy Hospital’s Oklahoma City campus and offers connectivity to the Kilpatrick Turnpike through N. Meridian Avenue. Restaurants, retail businesses, and service providers are located nearby, supporting day-to-day convenience for employees, clients, and visitors. The suite is part of a building constructed in 1986.
The property is directly across from Mercy Hospital’s Oklahoma City campus and offers connectivity to the Kilpatrick Turnpike through N. Meridian Avenue. Restaurants, retail businesses, and service providers are located nearby, supporting day-to-day convenience for employees, clients, and visitors. The suite is part of a building constructed in 1986.
Key Highlights
- Recently renovated office condominium in an established medical and professional corridor
- End‑cap suite with a reception area and convenient access
- Three private offices plus a private restroom and kitchenette
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
$14,227
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
6.62%
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%
$284,540
$284.5K
Cap Rate 7%
$203,243
$203.2K
Cap Rate 9%
$158,078
$158.1K
Market Conditions
NOI Build-Up for 1,000 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
$25.0K $24.96/SF
− Vacancy
−$6.0K −$5.99/SF
EGI
$19.0K $18.97/SF
− OpEx
−$4.7K −$4.74/SF
NOI
$14.2K $14.23/SF
Area
ZIP 73120
Vacancy
24.00%
Lease Rate
$24.96 /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%
$284,540
Cap Rate 7%
$203,243
Cap Rate 9%
$158,078
Alternative Uses
Best Use
Office B
$203.2K
$177.8K – $237.1K
NOI $14,227 @ 7.0% cap · market cap 6.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$240.7K
$210.6K – $280.8K
NOI $16,848 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,401
Businesses Nearby
Explore this area
Business Placement
Demographics for 73120, OK
36,530
Population
20,356
Households
1.8
Avg Household Size
38
Median Age
48%
College-Educated
96%
High-School Grad
11.0 sq mi
ZIP Area
3,321
Density / Sq Mi
$62,942
Median Household Income
$45,333
Median Earnings
$1,045
Median Rent
$227,600
Median Home Value
Market
Vacancy Rate% for Office in Oklahoma City, OK
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office condominium with private work areas, kitchenette, restroom, and nearby healthcare, dining, retail, and service amenities.
Where is this office units located?
The property is located at 13509 N Meridian Ave Suite 2 Oklahoma City, OK.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Recently renovated office condominium in an established medical and professional corridor; End‑cap suite with a reception area and convenient access; Three private offices plus a private restroom and kitchenette
