Corner Office and Medical
For Sale
$950,000
3701 N Meridian Ave, Oklahoma City, OK 73112
Two-building suite property with four occupied offices and one vacant space, suited for office, medical, or service use.
Property Size3,708 SF
Price / SF$256.20
Days on Market60
Property Features for 3701 N Meridian Ave
General Information
Standard status
Active
Size
3,708 SF
Occupancy
80%
Additional Details
Office Units
5
Building Details
Tenancy
Multi
Listing Agency:
Senemar & Associates
(405) 834-2158
Listed By:
Mitra Senemar · License #143837
(405) 834-2158
Source:
Exprealty
Added: Jun 11
Changed: Aug 8
Last Checked: Aug 8 at 7:19AM
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 Senemar & Associates
Investment Insights
Based on property information with market context.
This corner property includes two office buildings at 3701 N. Meridian Avenue and 3705 N. Meridian Avenue, offering a total of five suites. Four suites are currently occupied and one suite is vacant, creating immediate flexibility for an owner-user or a new tenant. The combined total building size is 5,474 square feet, with the configuration supporting office, medical, or service-oriented operations.
Positioned at the intersection of NW 36th Street and North Meridian Avenue in northwest Oklahoma City, the buildings benefit from strong visibility along a well-established commercial corridor. The area is characterized by medical, institutional, and professional uses, and the property also provides convenient access to major arterial roads. Nearby stable residential neighborhoods further support day-to-day accessibility.
For tenants and buyers seeking a multi-suite setup, the combination of occupied and available space can support a range of strategies, from moving into a vacant suite to operating alongside existing users within the same asset. For detailed financials, including the current rent roll, and to coordinate a private tour, please contact the listing team. Please do not disturb tenants.
Positioned at the intersection of NW 36th Street and North Meridian Avenue in northwest Oklahoma City, the buildings benefit from strong visibility along a well-established commercial corridor. The area is characterized by medical, institutional, and professional uses, and the property also provides convenient access to major arterial roads. Nearby stable residential neighborhoods further support day-to-day accessibility.
For tenants and buyers seeking a multi-suite setup, the combination of occupied and available space can support a range of strategies, from moving into a vacant suite to operating alongside existing users within the same asset. For detailed financials, including the current rent roll, and to coordinate a private tour, please contact the listing team. Please do not disturb tenants.
Key Highlights
- Two‑building commercial property at the corner of NW 36th St and North Meridian Ave in northwest Oklahoma City
- Total 5 suites: 4 currently occupied and 1 vacant, offering leasing or owner‑user flexibility
- Addresses include 3701 N. Meridian Ave and 3705 N. Meridian Ave
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
$52,754
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
5.55%
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%
$1,055,080
$1.1M
Cap Rate 7%
$753,629
$753.6K
Cap Rate 9%
$586,156
$586.2K
Market Conditions
NOI Build-Up for 3,708 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
$92.6K $24.96/SF
− Vacancy
−$22.2K −$5.99/SF
EGI
$70.3K $18.97/SF
− OpEx
−$17.6K −$4.74/SF
NOI
$52.8K $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 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%
$1,055,080
Cap Rate 7%
$753,629
Cap Rate 9%
$586,156
Alternative Uses
Best Use
Office B
$753.6K
$659.4K – $879.2K
NOI $52,754 @ 7.0% cap · market cap 5.55%
Second Best
Healthcare Medical
$748.9K
$655.3K – $873.7K
NOI $52,421 @ 7.0% cap · market cap 5.52%
Theoretical Best
Specialty Retail
$1.27M
$1.11M – $1.48M
NOI $88,770 @ 7.0% cap · market cap 9.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Office units
80%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
641
Businesses Nearby
Explore this area
Business Placement
Demographics for 73112, OK
31,113
Population
16,413
Households
1.9
Avg Household Size
37
Median Age
35%
College-Educated
91%
High-School Grad
7.6 sq mi
ZIP Area
4,094
Density / Sq Mi
$57,833
Median Household Income
$39,641
Median Earnings
$1,030
Median Rent
$173,100
Median Home Value
Market
Vacancy Rate% for Office in Oklahoma City, OK
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Two-building suite property with four occupied offices and one vacant space, suited for office, medical, or service use.
Where is this office units located?
The property is located at 3701 N Meridian Ave Oklahoma City, OK.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Two‑building commercial property at the corner of NW 36th St and North Meridian Ave in northwest Oklahoma City; Total 5 suites: 4 currently occupied and 1 vacant, offering leasing or owner‑user flexibility; Addresses include 3701 N. Meridian Ave and 3705 N. Meridian Ave
