Listing Agency: Grant Group Show Phone

Listed By: Chris Anderson Show Phone

Source: Moodyscre

Added: May 8, 2025 Changed: Sep 14 Last Checked: Oct 7 at 9:59AM

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Investment Insights

Based on property information with market context.

This is a fully leased office building. The property features a 7.02% cap rate and a total size of 4980 square feet.

Key Highlights

• Fully leased building
• Solid 7.02% cap rate

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$70,851

Cap Rate

6.31%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,417,020 $1.4M

Cap Rate 7%

$1,012,157 $1.0M

Cap Rate 9%

$787,233 $787.2K

Market Conditions

NOI Build-Up for 4,980 SF

Gross rent

$124.3K $24.96/SF

− Vacancy

−$29.8K −$5.99/SF

EGI

$94.5K $18.97/SF

− OpEx

−$23.6K −$4.74/SF

NOI

$70.9K $14.23/SF

Area

Oklahoma City, OK

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 Rate 5%

$1,417,020

Cap Rate 7%

$1,012,157

Cap Rate 9%

$787,233

Alternative Uses

Best Use

Office B

$1.01M

$885.6K – $1.18M (±1% cap)

NOI $70,851 @ 7.0% cap · market cap 6.31%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$1.70M

$1.49M – $1.99M (±1% cap)

NOI $119,221 @ 7.0% cap · market cap 10.62%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Office buildings

Location Intelligence

Trade Area within ½ mile

4,927

Businesses Nearby

Explore this area Business Placement

Market

Vacancy Rate% for Office in Oklahoma City, OK

10.8% 2023

26.5% 2024

29.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this office buildings located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Office building - Fully leased office building with a 7.02% cap rate.

Where is this office building located?

The property is located at 1621 Midtown Pl Oklahoma City, OK.

What is the asking price?

The asking price for this property is $1,123,000.

What are key features of this property?

This property features: Fully leased building; Solid 7.02% cap rate