Building Details

Building Size 9,552 SF

Year Built 1955

Stories 1

Tenancy Multi

Listing Agency: Clear Source Realty l***@clearsourcerealty.com Show Phone

Listed By: John Shawareb Show Phone

Source: Brandhorstrealty

Added: Dec 15, 2025 Changed: Oct 22 Last Checked: Oct 22 at 2:20PM

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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 Clear Source Realty

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Investment Insights

Based on property information with market context.

This multi-tenant retail property contains 9,552 SF in a strip-building configuration. Built in 1955, the improvements sit on a 0.78-acre parcel and include surface parking. Commercial zoning is identified for the property.

The building fronts S Air Depot Boulevard and has direct access from the road. Its multi-tenant layout is suited to retail and service uses.

Key Highlights

• 9,552 SF multi‑tenant retail building
• 0.78‑acre parcel with surface parking
• Built in 1955

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$100,822

Cap Rate

5.60%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,016,440 $2.0M

Cap Rate 7%

$1,440,314 $1.4M

Cap Rate 9%

$1,120,244 $1.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 9,552 SF

Gross rent

$159.3K $16.68/SF

− Vacancy

−$15.3K −$1.60/SF

EGI

$144.0K $15.08/SF

− OpEx

−$43.2K −$4.52/SF

NOI

$100.8K $10.56/SF

Area

Oklahoma County, OK

Vacancy

9.60%

Lease Rate

$16.68 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,016,440

Cap Rate 7%

$1,440,314

Cap Rate 9%

$1,120,244

Alternative Uses

Best Use

Retail

$1.44M

$1.26M – $1.68M (±1% cap)

NOI $100,822 @ 7.0% cap · market cap 5.60%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.99M

$1.74M – $2.32M (±1% cap)

NOI $139,265 @ 7.0% cap · market cap 7.74%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Strip malls

Suggested Use

Top Pick Parking Lot & Garage Carpet & Flooring Store (Bike/Boat/Book/etc) Store Big Box & Wholesale Store Tanning Salon Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

742

Businesses Nearby

215k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 57% Shops & Services 41% Beauty & Spa 2% Home Improvements & Furnishings 1%

McDonald's Dining

29,885 visits/mo 0.3 miles

Ollie's Bargain Outlet Shops & Services

29,312 visits/mo 0.4 miles

Dollar Tree Shops & Services

25,050 visits/mo 0.3 miles

IHOP Dining

12,151 visits/mo 0.3 miles

Jimmy's Egg Dining

11,959 visits/mo 0.3 miles

Demographics for 73110, OK

33,156

Population

15,826

Households

2.1

Avg Household Size

35

Median Age

20%

College-Educated

91%

High-School Grad

15.5 sq mi

ZIP Area

2,139

Density / Sq Mi

$50,436

Median Household Income

$35,043

Median Earnings

$1,007

Median Rent

$119,900

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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Frequently Asked Questions

What type of property is this?

Strip mall - Commercial zoning, surface parking, and direct access from S Air Depot Boulevard support a range of retail and service operations.

Where is this strip mall located?

The property is located at 1815 S Air Depot Boulevard Midwest City, OK.

What is the asking price?

The asking price for this property is $1,800,000.

What are key features of this property?

This property features: 9,552 SF multi‑tenant retail building; 0.78‑acre parcel with surface parking; Built in 1955