Office Building For
For Sale
$4,300,000
825 S Kelly Ave, Edmond, OK 73003
For-sale office property listed with an 8.26% cap rate.
Property Size28,818 SF
Days on Market117
Property Features for 825 S Kelly Ave
General Information
Standard status
Active
Size
28,818 SF
Class
B
Property subtype
Office
Additional Details
Cap Rate
8.26%
Building Details
Building Size
28,818 SF
Year Built
2006
Listing Agency:
NAI RED Commercial Real Estate
Listed By:
Matthew Pierce · License #OK #181850
(405) 203-3636
Source:
Naiglobal
Added: May 14
Changed: Sep 3
Last Checked: Sep 7 at 5:39AM
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 NAI RED Commercial Real Estate
Investment Insights
Based on property information with market context.
This for-sale commercial office property is presented as an office building, with terms highlighted by a stated 8.26% cap rate. The offering is listed at $4,300,000.
The property is located at 825 S Kelly Ave in Edmond, Oklahoma 73003.
The property is located at 825 S Kelly Ave in Edmond, Oklahoma 73003.
Key Highlights
- Built in 2006
- Listed with an 8.26% cap rate
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
$325,904
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
7.58%
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%
$6,518,080
$6.5M
Cap Rate 7%
$4,655,771
$4.7M
Cap Rate 9%
$3,621,156
$3.6M
Market Conditions
NOI Build-Up for 28,818 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
$480.7K $16.68/SF
− Vacancy
−$46.1K −$1.60/SF
EGI
$434.5K $15.08/SF
− OpEx
−$108.6K −$3.77/SF
NOI
$325.9K $11.31/SF
Area
Oklahoma County, OK
Vacancy
9.60%
Lease Rate
$16.68 /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%
$6,518,080
Cap Rate 7%
$4,655,771
Cap Rate 9%
$3,621,156
Alternative Uses
Best Use
Office B
$4.66M
$4.07M – $5.43M
NOI $325,904 @ 7.0% cap · market cap 7.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.00M
$5.25M – $7.00M
NOI $420,158 @ 7.0% cap · market cap 9.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
827
Businesses Nearby
Explore this area
Business Placement
Demographics for 73003, OK
22,648
Population
9,760
Households
2.3
Avg Household Size
36
Median Age
42%
College-Educated
93%
High-School Grad
7.4 sq mi
ZIP Area
3,061
Density / Sq Mi
$76,957
Median Household Income
$45,176
Median Earnings
$1,338
Median Rent
$230,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - For-sale office property listed with an 8.26% cap rate.
Where is this office building located?
The property is located at 825 S Kelly Ave Edmond, OK.
What is the asking price?
The asking price for this property is $4,300,000.
What are key features of this property?
This property features: Built in 2006; Listed with an 8.26% cap rate
