Downtown OKC Standalone
For Sale
$1,995,000
417 Dean A McGee Ave, Oklahoma City, OK 73102
Standalone building in Downtown OKC with private parking lot.
Property Size28,000 SF
Days on Market171
Property Features for 417 Dean A McGee Ave
General Information
Standard status
Active
Size
28,000 SF
Class
B
Property subtype
Office
Building Details
Building Size
28,000 SF
Year Built
1925
Listing Agency:
ADEPT Commercial Real Estate
(405) 570-7317
Listed By:
Andrew Hwang, Esq · License #OK #170740
Source:
Adeptcre
Added: Mar 5
Changed: Aug 14
Last Checked: Aug 22 at 4:45AM
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 ADEPT Commercial Real Estate
Investment Insights
Based on property information with market context.
This is a standalone building located in Downtown Oklahoma City. The historic concrete and steel structure is situated on Dean A McGee between N Hudson and N Walker, in the Central Business District, and a block away from Midtown. The property includes an adjacent private parking lot with thirty parking spaces. The exterior has been newly renovated. The location is walkable to multiple restaurants, the Civic Center, and the Oklahoma City Museum of Art. An Oklahoma City Streetcar stop is one block from the property and offers views of the downtown skyline.
Key Highlights
- Standalone building in Downtown OKC with adjacent private parking lot (30 spaces).
- Fantastic downtown skyline views.
- Located in the Central Business District, one block from Midtown.
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
$170,226
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
8.53%
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%
$3,404,520
$3.4M
Cap Rate 7%
$2,431,800
$2.4M
Cap Rate 9%
$1,891,400
$1.9M
Market Conditions
NOI Build-Up for 28,000 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
$252.0K $9.00/SF
− Vacancy
−$8.8K −$0.32/SF
EGI
$243.2K $8.69/SF
− OpEx
−$73.0K −$2.61/SF
NOI
$170.2K $6.08/SF
Area
Oklahoma City, OK
Vacancy
3.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
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%
$3,404,520
Cap Rate 7%
$2,431,800
Cap Rate 9%
$1,891,400
Alternative Uses
Best Use
Retail
$7.90M
$6.91M – $9.21M
NOI $552,720 @ 7.0% cap · market cap 27.71%
Second Best
Office B
$5.69M
$4.98M – $6.64M
NOI $398,362 @ 7.0% cap · market cap 19.97%
Theoretical Best
Specialty Retail
$9.58M
$8.38M – $11.17M
NOI $670,320 @ 7.0% cap · market cap 33.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,927
Businesses Nearby
Explore this area
Business Placement
Demographics for 73102, OK
3,072
Population
1,460
Households
2.1
Avg Household Size
35
Median Age
27%
College-Educated
86%
High-School Grad
0.8 sq mi
ZIP Area
3,840
Density / Sq Mi
$67,542
Median Household Income
$37,067
Median Earnings
$1,253
Median Rent
$212,500
Median Home Value
Market
Vacancy Rate% for Office in Oklahoma City, OK
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Standalone building in Downtown OKC with private parking lot.
Where is this office building located?
The property is located at 417 Dean A McGee Ave Oklahoma City, OK.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Standalone building in Downtown OKC with adjacent private parking lot (30 spaces).; Fantastic downtown skyline views.; Located in the Central Business District, one block from Midtown.
