Medical Office Building with Storm
For Sale
$1,900,000
14500 S Western Avenue, Oklahoma City, OK 73170
SINGLE_FAMILY - Oklahoma City, OK
Property Size9,374 SF
Lot Size5.00 Acres
Price / SF$202.69
Days on Market47
Property Features for 14500 S Western Avenue
General Information
Property type
Residential
Property subtype
Office
Zoning
Commercial
Directions
From SW 149th St head north on S Western Ave on the East side of the street
Standard status
Active
APN
14500SWestern73170
Size
9,374 SF
Lot size
5.00 Acres
Building Details
Year built
2016
Listing Agency:
LRE Realty, LLC
(405) 285-5750
Listed By:
Tara Levinson · License #145328
(405) 414-8750
Added: Jun 26
Last Checked: Aug 11 at 6:06PM
MLS# 1236466
Copyright © 2026 MLSOK, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Move-in-ready commercial building designed to support a range of service and education uses, including medical office, private school, learning center, or professional office. The layout includes large rooms and nine bathrooms. On site, there is a dedicated fenced-in outdoor area. A major feature is a massive, permitted storm shelter with a 170-person capacity, built to provide on-site safety for occupants.
The property is located at 14500 S Western Avenue in Oklahoma City, OK 73170. It is described as having excellent frontage. The surrounding area includes professional and residential growth, and it is noted to be near Orr Family Farm. Showings are strictly by appointment only for an active business.
For buyers or tenants seeking an all-in-one facility, the existing interior configuration and multiple bathrooms can support day-to-day operations for medical and professional users, as well as school or learning environments. The permitted 170-person storm shelter adds a practical, organization-specific safety benefit, while the fenced outdoor area can accommodate controlled activities or uses. The listing also indicates the property may be purchased with additional undeveloped acreage, including an option referenced as 5 acres total (or 4 acres for a total of 5 acres, per the MLS note).
The property is located at 14500 S Western Avenue in Oklahoma City, OK 73170. It is described as having excellent frontage. The surrounding area includes professional and residential growth, and it is noted to be near Orr Family Farm. Showings are strictly by appointment only for an active business.
For buyers or tenants seeking an all-in-one facility, the existing interior configuration and multiple bathrooms can support day-to-day operations for medical and professional users, as well as school or learning environments. The permitted 170-person storm shelter adds a practical, organization-specific safety benefit, while the fenced outdoor area can accommodate controlled activities or uses. The listing also indicates the property may be purchased with additional undeveloped acreage, including an option referenced as 5 acres total (or 4 acres for a total of 5 acres, per the MLS note).
Key Highlights
- Move‑in‑ready commercial building built in 2016 with a flexible layout for medical, school, learning, or professional office use
- Highly functional interior features large rooms and 9 bathrooms
- Includes a dedicated fenced‑in outdoor area
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
$124,187
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
6.54%
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%
$2,483,740
$2.5M
Cap Rate 7%
$1,774,100
$1.8M
Cap Rate 9%
$1,379,856
$1.4M
Market Conditions
NOI Build-Up for 9,374 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
$225.0K $24.00/SF
− Vacancy
−$18.0K −$1.92/SF
EGI
$207.0K $22.08/SF
− OpEx
−$82.8K −$8.83/SF
NOI
$124.2K $13.25/SF
Area
ZIP 73170
Vacancy
8.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
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%
$2,483,740
Cap Rate 7%
$1,774,100
Cap Rate 9%
$1,379,856
Alternative Uses
Best Use
Healthcare Medical
$1.77M
$1.55M – $2.07M
NOI $124,187 @ 7.0% cap · market cap 6.54%
Second Best
Office B
$1.65M
$1.44M – $1.92M
NOI $115,413 @ 7.0% cap · market cap 6.07%
Theoretical Best
Specialty Retail
$3.81M
$3.34M – $4.45M
NOI $266,892 @ 7.0% cap · market cap 14.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
354
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 73170, OK
41,343
Population
16,658
Households
2.5
Avg Household Size
40
Median Age
37%
College-Educated
94%
High-School Grad
21.0 sq mi
ZIP Area
1,969
Density / Sq Mi
$92,403
Median Household Income
$44,653
Median Earnings
$1,525
Median Rent
$249,800
Median Home Value
Market
Vacancy Rate% for Office in Oklahoma City, OK
Questions? Ask Rey
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Similar Off Market Nearby
- Boyer Capstone Veterinary Care — 13500 S Western Ave, Oklahoma City, OK 73170
Frequently Asked Questions
What type of property is this?
Medical Office Space - Move-in-ready facility with large rooms, nine bathrooms, fenced outdoor area, and a permitted 170-person storm shelter.
Where is this medical office space located?
The property is located at 14500 S Western Avenue Oklahoma City, OK.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Move‑in‑ready commercial building built in 2016 with a flexible layout for medical, school, learning, or professional office use; Highly functional interior features large rooms and 9 bathrooms; Includes a dedicated fenced‑in outdoor area
