Veterinary Medical
For Sale
$4,000,000
2020 N Kelly Ave, Edmond, OK 73003
Purpose-built veterinary facility with clinical, grooming, boarding, office, reception, and retail areas in a flexible commercial setting.
Property Size13,325 SF
Lot Size1.65 Acres
Days on Market147
Property Features for 2020 N Kelly Ave
General Information
Standard status
Active
Size
13,325 SF
Class
A
Lot size
1.65 Acres
Property subtype
Office - Medical Office
Zoning
PUD (D-1)
Amenities
exam rooms
surgery suite
dental/wet tables
treatment area
isolation area
grooming area
kennel areas
outdoor runs
indoor multipurpose play area
private offices
reception area
retail area
employee break room
Building Details
Building Size
13,325 SF
Year Built
2021
Units
1
Listing Agency:
Creek CRE
(405) 570-3606
Listed By:
Chase Anderson
Source:
Commercialcafe
Added: Apr 8
Changed: Aug 30
Last Checked: Aug 30 at 7:37PM
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 Creek CRE
Investment Insights
Based on property information with market context.
Built in 2021, this medical office property is configured as a veterinary clinic and spa with a specialized operational layout. The facility includes four exam rooms, a surgery suite, dental and wet tables, a treatment area, isolation space, grooming facilities, kennel areas, outdoor runs, and an indoor multipurpose play area. Multiple private offices, an employee break room, reception space, and retail area complete the interior program.
The property occupies 1.65 acres on the east side of N Kelly Ave, just north of Danforth in Edmond, Oklahoma, with additional usable land for expansion. Zoning is PUD (D-1), supporting retail and commercial uses. The existing improvements are also identified as suitable for veterinary, spa, boarding, and daycare operations, with potential for mixed-use or redevelopment applications.
The property occupies 1.65 acres on the east side of N Kelly Ave, just north of Danforth in Edmond, Oklahoma, with additional usable land for expansion. Zoning is PUD (D-1), supporting retail and commercial uses. The existing improvements are also identified as suitable for veterinary, spa, boarding, and daycare operations, with potential for mixed-use or redevelopment applications.
Key Highlights
- Veterinary clinic and spa built in 2021
- 1.65‑acre property with additional usable land
- Four exam rooms, surgery suite, treatment area, and isolation space
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
$150,693
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
3.77%
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%
$3,013,860
$3.0M
Cap Rate 7%
$2,152,757
$2.2M
Cap Rate 9%
$1,674,367
$1.7M
Market Conditions
NOI Build-Up for 13,325 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
$222.3K $16.68/SF
− Vacancy
−$21.3K −$1.60/SF
EGI
$200.9K $15.08/SF
− OpEx
−$50.2K −$3.77/SF
NOI
$150.7K $11.31/SF
Area
Oklahoma County, OK
Vacancy
9.60%
Lease Rate
$16.68 /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%
$3,013,860
Cap Rate 7%
$2,152,757
Cap Rate 9%
$1,674,367
Alternative Uses
Best Use
Office B
$2.15M
$1.88M – $2.51M
NOI $150,693 @ 7.0% cap · market cap 3.77%
Second Best
Healthcare Medical
$1.97M
$1.73M – $2.30M
NOI $138,245 @ 7.0% cap · market cap 3.46%
Theoretical Best
Office A
$2.78M
$2.43M – $3.24M
NOI $194,275 @ 7.0% cap · market cap 4.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,125
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 73003, OK
22,648
Population
9,760
Households
2.3
Avg Household Size
36
Median Age
42%
College-Educated
93%
High-School Grad
7.4 sq mi
ZIP Area
3,061
Density / Sq Mi
$76,957
Median Household Income
$45,176
Median Earnings
$1,338
Median Rent
$230,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- All V Care Pet Hospital — 2825 S Broadway, Edmond, OK 73013
- The Visiting Veterinarian — 2825 S Broadway, Edmond, OK 73013
- Redbud Animal Dermatology — 3500 s broadway, edmond, ok 73013
- Banfield Pet Hospital — 1921 S Broadway, Edmond, OK 73013
- Westbrook Animal Clinic — 1129 w 15th st, edmond, ok 73013
Frequently Asked Questions
What type of property is this?
Medical Office Space - Purpose-built veterinary facility with clinical, grooming, boarding, office, reception, and retail areas in a flexible commercial setting.
Where is this medical office space located?
The property is located at 2020 N Kelly Ave Edmond, OK.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: Veterinary clinic and spa built in 2021; 1.65‑acre property with additional usable land; Four exam rooms, surgery suite, treatment area, and isolation space
