Edmond Office Building For
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416 W 15th Street building 500, Edmond, OK 73013
Office building with rental income and owner-user potential.
Property Size4,724 SF
Price / SF$132.30
Days on Market392
Property Features for 416 W 15th Street building 500
General Information
Standard status
Active
Size
4,724 SF
Class
B
Property subtype
Office
Occupancy
63%
Investment Type
Owner/User
Net Operating Income
$47,544
Building Details
Year Built
1999
Buildings
1
Stories
1
Listing Agency:
Skybridge Real Estate
Listed By:
Corey Hale · License #183307
Source:
Crexi
Added: Jul 17, 2025
Changed: Aug 10
Last Checked: Aug 11 at 7:06AM
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 Skybridge Real Estate
Investment Insights
Based on property information with market context.
This commercial property features office units with a total size of 4,724 square feet. The property currently generates a monthly rental income of $3,962.00, amounting to $47,544.00 annually. The largest tenant's lease is active until February 28, 2028. Suite C, encompassing 1,581 square feet, is available, offering an opportunity for an owner-user or additional rental income. The current yearly expenses for the property are $29,294.00.
Key Highlights
- Significant rental income: $47,544.00 per year.
- Suite C (1,581 sq ft) available for owner‑user or additional rental income.
- Largest tenant lease expires 2/28/2028.
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
$53,424
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
8.55%
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%
$1,068,480
$1.1M
Cap Rate 7%
$763,200
$763.2K
Cap Rate 9%
$593,600
$593.6K
Market Conditions
NOI Build-Up for 4,724 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
$78.8K $16.68/SF
− Vacancy
−$7.6K −$1.60/SF
EGI
$71.2K $15.08/SF
− OpEx
−$17.8K −$3.77/SF
NOI
$53.4K $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%
$1,068,480
Cap Rate 7%
$763,200
Cap Rate 9%
$593,600
Alternative Uses
Best Use
Office B
$763.2K
$667.8K – $890.4K
NOI $53,424 @ 7.0% cap · market cap 8.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$983.9K
$860.9K – $1.15M
NOI $68,875 @ 7.0% cap · market cap 11.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,119
Businesses Nearby
Explore this area
Business Placement
Demographics for 73013, OK
56,972
Population
22,971
Households
2.5
Avg Household Size
36
Median Age
59%
College-Educated
97%
High-School Grad
32.7 sq mi
ZIP Area
1,742
Density / Sq Mi
$108,727
Median Household Income
$54,073
Median Earnings
$1,465
Median Rent
$292,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office building with rental income and owner-user potential.
Where is this office units located?
The property is located at 416 W 15th Street building 500 Edmond, OK.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Significant rental income: $47,544.00 per year.; Suite C (1,581 sq ft) available for owner‑user or additional rental income.; Largest tenant lease expires 2/28/2028.
