Office Building with Two Conference
For Sale
$2,730,000
4242 N MERIDIAN Avenue, Oklahoma City, OK 73112
Distinctive office building offering two large conference rooms, elevator service, and 24 offices with separate comfort controls.
Property Size14,300 SF
Days on Market235
Property Features for 4242 N MERIDIAN Avenue
General Information
Standard status
Active
Size
14,300 SF
Property subtype
Commercial
Zoning
Commercial
Building Details
Building Size
14,300 SF
Year Built
2002
Stories
3
Listing Agency:
Metro First Realty Pros
(405) 721-4033
Listed By:
Aaron Dilley
(405) 721-4033
Source:
Jarmanrealtyok
Added: Jan 1
Changed: Aug 23
Last Checked: Aug 24 at 12:53PM
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 Metro First Realty Pros
Investment Insights
Based on property information with market context.
This distinctive office building combines craftsmanship with modern building systems and a high-function interior layout. The property includes two large conference rooms, an elevator, and a safe room, along with 24 offices featuring separate heat/air controls. Climate comfort is supported by a Mitsubishi geothermal heating and air system. The building also offers built-in furniture in each office, six bathrooms (two with showers), and parking designed for daily use, including 42 total spaces with 7 covered.
Located at 4242 N Meridian Ave in Oklahoma City, the building sits on over an acre just outside the Warr Acres/Bethany area, with easy highway access about 1–2 minutes away.
Potential terms may be available, as owner financing is described as possible for well-qualified buyers, and a lease option is noted as possible for the right client.
Located at 4242 N Meridian Ave in Oklahoma City, the building sits on over an acre just outside the Warr Acres/Bethany area, with easy highway access about 1–2 minutes away.
Potential terms may be available, as owner financing is described as possible for well-qualified buyers, and a lease option is noted as possible for the right client.
Key Highlights
- Office building with 24 offices, each with separate heat/air controls
- Two large conference rooms plus elevator service
- State‑of‑the‑art Mitsubishi geothermal heating and air with average utility bills around $950
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
$203,449
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
7.45%
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%
$4,068,980
$4.1M
Cap Rate 7%
$2,906,414
$2.9M
Cap Rate 9%
$2,260,544
$2.3M
Market Conditions
NOI Build-Up for 14,300 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
$356.9K $24.96/SF
− Vacancy
−$85.7K −$5.99/SF
EGI
$271.3K $18.97/SF
− OpEx
−$67.8K −$4.74/SF
NOI
$203.4K $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%
$4,068,980
Cap Rate 7%
$2,906,414
Cap Rate 9%
$2,260,544
Alternative Uses
Best Use
Office B
$2.91M
$2.54M – $3.39M
NOI $203,449 @ 7.0% cap · market cap 7.45%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.89M
$4.28M – $5.71M
NOI $342,342 @ 7.0% cap · market cap 12.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
829
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 building - Distinctive office building offering two large conference rooms, elevator service, and 24 offices with separate comfort controls.
Where is this office building located?
The property is located at 4242 N MERIDIAN Avenue Oklahoma City, OK.
What is the asking price?
The asking price for this property is $2,730,000.
What are key features of this property?
This property features: Office building with 24 offices, each with separate heat/air controls; Two large conference rooms plus elevator service; State‑of‑the‑art Mitsubishi geothermal heating and air with average utility bills around $950
