New Construction Office
For Sale
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833 Kelly Lakes Pass, Edmond, OK 73025
Newly built office property with drive-up parking, utility service, and convenient highway access.
Property Size3,827 SF
Price / SF$215.70
Days on Market284
Property Features for 833 Kelly Lakes Pass
General Information
Standard status
Active
Size
3,827 SF
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Listing Agency:
Newmark Robinson Park | Oklahoma City
(405) 879-4767
Listed By:
Jim Rose · License #058065
Source:
Moodyscre
Added: Nov 21, 2025
Changed: Aug 30
Last Checked: Aug 31 at 5:34PM
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 Newmark Robinson Park | Oklahoma City
Investment Insights
Based on property information with market context.
This 3,827-square-foot office building offers new construction and drive-up parking for convenient daily access. Edmond utilities serve the property, supporting office operations from a recently completed improvement.
The property is located near restaurants, retail, and grocery options, with access to I-35 and Hwy 74. Its office classification and practical parking configuration provide a straightforward commercial setting for occupancy or ownership.
The property is located near restaurants, retail, and grocery options, with access to I-35 and Hwy 74. Its office classification and practical parking configuration provide a straightforward commercial setting for occupancy or ownership.
Key Highlights
- 3,827‑square‑foot office building
- New construction
- Drive‑up parking
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
$43,280
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
5.24%
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%
$865,600
$865.6K
Cap Rate 7%
$618,286
$618.3K
Cap Rate 9%
$480,889
$480.9K
Market Conditions
NOI Build-Up for 3,827 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
$63.8K $16.68/SF
− Vacancy
−$6.1K −$1.60/SF
EGI
$57.7K $15.08/SF
− OpEx
−$14.4K −$3.77/SF
NOI
$43.3K $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%
$865,600
Cap Rate 7%
$618,286
Cap Rate 9%
$480,889
Alternative Uses
Best Use
Office B
$618.3K
$541.0K – $721.3K
NOI $43,280 @ 7.0% cap · market cap 5.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$797.1K
$697.5K – $930.0K
NOI $55,797 @ 7.0% cap · market cap 6.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
50
Businesses Nearby
Explore this area
Business Placement
Demographics for 73025, OK
15,524
Population
5,633
Households
2.8
Avg Household Size
39
Median Age
60%
College-Educated
97%
High-School Grad
52.7 sq mi
ZIP Area
295
Density / Sq Mi
$176,808
Median Household Income
$72,492
Median Earnings
$2,656
Median Rent
$441,000
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 - Newly built office property with drive-up parking, utility service, and convenient highway access.
Where is this office building located?
The property is located at 833 Kelly Lakes Pass Edmond, OK.
What is the asking price?
The asking price for this property is $825,500.
What are key features of this property?
This property features: 3,827‑square‑foot office building; New construction; Drive‑up parking
