Enid Medical Clinic For
For Sale
$1,100,000
601 W Owen K Garriott Rd, Enid, OK 73701
601 W. Owen K. Garriott Rd. - Enid, OK
Property Size3,556 SF
Lot Size0.51 Acres
Price / SF$309.34
Days on Market222
Property Features for 601 W Owen K Garriott Rd
General Information
Standard status
Active
Property type
Medical centers, Healthcare properties
Size
3,556 SF
Class
A
Total Parking Spaces
34
Elevators
N/A
Lot size
0.51 Acres
Investment Type
Owner User
Building Details
Year Built
1974
Year Renovated
2005
Buildings
1
Stories
1
Units
1
Listing Agency:
(580) 484-8400
Listed By:
Cole
(580) 484-8400
Added: Jan 19
Changed: Mar 16
Investment Insights
Based on property information with market context.
The property at 601 W. Owen K. Garriott Rd. in Enid, OK, formerly an Integris Health OB/GYN clinic, is available for sale. The existing layout features 7 to 8 exam rooms, along with offices. However, there are 11 serviceable rooms that can be reconfigured to suit specific needs. The property includes a functional floor plan, a waiting room, three washrooms, a lab, nursing and administration stations, and storage space. It benefits from ample dedicated parking and an established, easily accessible location. The property has a size of 3556 PropertySizeUnits.
Key Highlights
- Current owner would consider lease long‑term to right tenant, already built out as a clinic, easy to locate established location, easy to reconfigure if needed.
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
$42,168
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
3.83%
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%
$843,360
$843.4K
Cap Rate 7%
$602,400
$602.4K
Cap Rate 9%
$468,533
$468.5K
Market Conditions
NOI Build-Up for 3,556 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
$76.8K $21.60/SF
− Vacancy
−$6.5K −$1.84/SF
EGI
$70.3K $19.76/SF
− OpEx
−$28.1K −$7.91/SF
NOI
$42.2K $11.86/SF
Area
Garfield County, OK
Vacancy
8.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
40.00%
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%
$843,360
Cap Rate 7%
$602,400
Cap Rate 9%
$468,533
Alternative Uses
Best Use
Healthcare Medical
$602.4K
$527.1K – $702.8K
NOI $42,168 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$979.3K
$856.9K – $1.14M
NOI $68,552 @ 7.0% cap · market cap 6.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,155
Businesses Nearby
Explore this area
Business Placement
Demographics for 73701, OK
24,744
Population
10,924
Households
2.3
Avg Household Size
34
Median Age
13%
College-Educated
80%
High-School Grad
145.2 sq mi
ZIP Area
170
Density / Sq Mi
$51,497
Median Household Income
$31,495
Median Earnings
$788
Median Rent
$99,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - 601 W. Owen K. Garriott Rd. - Enid, OK
Where is this medical center located?
The property is located at 601 W Owen K Garriott Rd Enid, OK.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Current owner would consider lease long‑term to right tenant, already built out as a clinic, easy to locate established location, easy to reconfigure if needed.
