Multi-Tenant Medical Building For
For Sale
Contact for pricing
Pending
13616 East 103rd Street North, Owasso, OK 74055
Multi-tenant medical building with Highway 169 visibility in Owasso, OK.
Property Size11,989 SF
Days on Market1018
Property Features for 13616 East 103rd Street North
General Information
Standard status
Pending
Size
11,989 SF
Class
B
Property subtype
Office
Occupancy
82%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$287,695
Building Details
Year Built
2006
Year Renovated
2025
Tenancy
Multi
Listing Agency:
McGraw Commercial Properties
Listed By:
Dilon Argo · License #175686
Source:
Crexi
Added: Nov 9, 2023
Changed: Aug 8
Last Checked: Aug 21 at 3:55PM
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 McGraw Commercial Properties
Investment Insights
Based on property information with market context.
This multi-tenant medical building is 82.5% occupied and offers a suite available for lease, encompassing 2,089 square feet. Current tenants include Hillcrest Urgent Care and Care ATC. The property is located on the service road along the east side of Highway 169, situated between 106th Street North and 96th Street North in Owasso, Oklahoma. The building offers visibility from Highway 169. The property size is 11,989 square feet.
Key Highlights
- Multi‑tenant medical building
- 82.5% occupied
- Great visibility from Highway 169
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
$147,790
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
4.22%
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%
$2,955,800
$3.0M
Cap Rate 7%
$2,111,286
$2.1M
Cap Rate 9%
$1,642,111
$1.6M
Market Conditions
NOI Build-Up for 11,989 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
$224.4K $18.72/SF
− Vacancy
−$27.4K −$2.28/SF
EGI
$197.1K $16.44/SF
− OpEx
−$49.3K −$4.11/SF
NOI
$147.8K $12.33/SF
Area
Tulsa County, OK
Vacancy
12.20%
Lease Rate
$18.72 /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%
$2,955,800
Cap Rate 7%
$2,111,286
Cap Rate 9%
$1,642,111
Alternative Uses
Best Use
Office B
$2.11M
$1.85M – $2.46M
NOI $147,790 @ 7.0% cap · market cap 4.22%
Second Best
Healthcare Medical
$1.99M
$1.74M – $2.32M
NOI $139,374 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$2.70M
$2.36M – $3.15M
NOI $189,139 @ 7.0% cap · market cap 5.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
328
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 74055, OK
48,776
Population
19,539
Households
2.5
Avg Household Size
37
Median Age
39%
College-Educated
95%
High-School Grad
50.9 sq mi
ZIP Area
958
Density / Sq Mi
$86,897
Median Household Income
$46,956
Median Earnings
$1,218
Median Rent
$261,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Family Animal Medicine — 10305 N Owasso Expy, Owasso, OK 74055
Frequently Asked Questions
What type of property is this?
Medical Office Space - Multi-tenant medical building with Highway 169 visibility in Owasso, OK.
Where is this medical office space located?
The property is located at 13616 East 103rd Street North Owasso, OK.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Multi‑tenant medical building; 82.5% occupied; Great visibility from Highway 169
