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 Market216
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
Listed By:
Andrew Hwang, Esq · License #OK #170740
(405) 570-7317
Source:
Adeptcre
Added: Mar 5
Changed: Oct 1
Last Checked: Oct 5 at 4:13PM
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 Andrew Hwang, Esq
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 / Yr
$170,226
Cap Rate
8.53%
Suggested Prices Based on Cap Rates
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
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 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
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 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.
