Freestanding Medical Office
For Sale
$699,900
6500 North Meridian Avenue, Oklahoma City, OK 73116
Freestanding medical office building with multiple exam rooms, private offices, reception and waiting areas.
Property Size3,561 SF
Price / SF$196.55
Days on Market61
Property Features for 6500 North Meridian Avenue
General Information
Standard status
Active
Size
3,561 SF
Class
C
Property subtype
Office - General Office
Additional Details
Highway Access
Yes
Building Details
Building Size
3,561 SF
Year Built
1964
Year Renovated
2023
Listing Agency:
Creek Commercial Realty
Listed By:
Nick Gray · License #159340
Source:
Commercialcafe
Added: Jun 25
Changed: Aug 22
Last Checked: Aug 18 at 10:18AM
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 Creek Commercial Realty
Investment Insights
Based on property information with market context.
This freestanding medical office building offers a highly functional layout designed for healthcare and professional office use. The interior includes multiple exam rooms, private offices, a reception and waiting area, and additional support space to support day-to-day operations and patient care.
Located at 6500 N Meridian Avenue in Northwest Oklahoma City’s established medical and professional office corridor, the property is positioned just south of NW Expressway with access minutes from Interstate 44. The surrounding area is anchored by major healthcare institutions and includes specialty clinics and outpatient facilities, along with nearby office developments, retail, restaurants, and neighborhood amenities.
With 3,561 square feet of space, the building provides a straightforward arrangement for an owner-user or tenant seeking a dedicated medical office setting with defined patient-facing and administrative areas.
Located at 6500 N Meridian Avenue in Northwest Oklahoma City’s established medical and professional office corridor, the property is positioned just south of NW Expressway with access minutes from Interstate 44. The surrounding area is anchored by major healthcare institutions and includes specialty clinics and outpatient facilities, along with nearby office developments, retail, restaurants, and neighborhood amenities.
With 3,561 square feet of space, the building provides a straightforward arrangement for an owner-user or tenant seeking a dedicated medical office setting with defined patient-facing and administrative areas.
Key Highlights
- 3,561 SF freestanding medical office building at 6500 N Meridian Avenue
- Medical office layout includes multiple exam rooms and private offices
- Includes reception and waiting areas plus additional support space
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
$50,663
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
7.24%
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%
$1,013,260
$1.0M
Cap Rate 7%
$723,757
$723.8K
Cap Rate 9%
$562,922
$562.9K
Market Conditions
NOI Build-Up for 3,561 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
$88.9K $24.96/SF
− Vacancy
−$21.3K −$5.99/SF
EGI
$67.6K $18.97/SF
− OpEx
−$16.9K −$4.74/SF
NOI
$50.7K $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%
$1,013,260
Cap Rate 7%
$723,757
Cap Rate 9%
$562,922
Alternative Uses
Best Use
Office B
$723.8K
$633.3K – $844.4K
NOI $50,663 @ 7.0% cap · market cap 7.24%
Second Best
Healthcare Medical
$719.2K
$629.3K – $839.1K
NOI $50,343 @ 7.0% cap · market cap 7.19%
Theoretical Best
Specialty Retail
$1.22M
$1.07M – $1.42M
NOI $85,250 @ 7.0% cap · market cap 12.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
857
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 73116, OK
9,531
Population
4,966
Households
1.9
Avg Household Size
43
Median Age
54%
College-Educated
95%
High-School Grad
5.5 sq mi
ZIP Area
1,733
Density / Sq Mi
$81,563
Median Household Income
$53,528
Median Earnings
$1,136
Median Rent
$285,200
Median Home Value
Market
Vacancy Rate% for Office in Oklahoma City, OK
Questions? Ask Rey
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Similar Off Market Nearby
- Wedgewood Pet Clinic — 4201 Northwest Expy, Oklahoma City, OK 73116
- Lakeview Pet Hospital — 6450 N Meridian Ave, Oklahoma City, OK 73116
- Vam Veterinary MGMT — 5770 Northwest Expy, Warr Acres, OK 73132
Frequently Asked Questions
What type of property is this?
Medical Office Space - Freestanding medical office building with multiple exam rooms, private offices, reception and waiting areas.
Where is this medical office space located?
The property is located at 6500 North Meridian Avenue Oklahoma City, OK.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 3,561 SF freestanding medical office building at 6500 N Meridian Avenue; Medical office layout includes multiple exam rooms and private offices; Includes reception and waiting areas plus additional support space
