Prestigious Office Property in
For Sale
$3,758,700
9505 N Kelley Avenue, Oklahoma City, OK 73131
High-end office building with modern amenities and tranquil pond view.
Property Size14,740 SF
Price / SF$255
Days on Market1396
Property Features for 9505 N Kelley Avenue
General Information
Standard status
Active
Size
14,740 SF
Property subtype
Office
Amenities
3
Building Details
Year Built
2011
Listed By:
Blackstone Commercial Prop Adv
(405) 850-0987
Source:
Xome
Added: Nov 12, 2022
Changed: Sep 8
Last Checked: Sep 8 at 4:51AM
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 Blackstone Commercial Prop Adv
Investment Insights
Based on property information with market context.
Located at 9505 N Kelley Ave in Oklahoma City, this commercial office property offers 14,740 square feet of space. Constructed in 2011, the property features high-end finishes and modern amenities. The roof, dormers, and gutters were replaced in June 2024. Overlooking a pond, the location provides a tranquil setting. The property includes ample space for offices, conference rooms, and collaborative areas, offering versatility to accommodate various business needs.
Key Highlights
- 14,740 sq ft of meticulously designed commercial office space.
- Modern amenities and high‑end finishes throughout.
- Roof, dormers and gutters replaced in June 2024.
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
$209,709
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
5.58%
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%
$4,194,180
$4.2M
Cap Rate 7%
$2,995,843
$3.0M
Cap Rate 9%
$2,330,100
$2.3M
Market Conditions
NOI Build-Up for 14,740 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
$367.9K $24.96/SF
− Vacancy
−$88.3K −$5.99/SF
EGI
$279.6K $18.97/SF
− OpEx
−$69.9K −$4.74/SF
NOI
$209.7K $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%
$4,194,180
Cap Rate 7%
$2,995,843
Cap Rate 9%
$2,330,100
Alternative Uses
Best Use
Office B
$3.00M
$2.62M – $3.50M
NOI $209,709 @ 7.0% cap · market cap 5.58%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.04M
$4.41M – $5.88M
NOI $352,876 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
215
Businesses Nearby
Explore this area
Business Placement
Demographics for 73131, OK
3,453
Population
1,541
Households
2.2
Avg Household Size
42
Median Age
45%
College-Educated
98%
High-School Grad
12.0 sq mi
ZIP Area
288
Density / Sq Mi
$118,375
Median Household Income
$60,417
Median Earnings
$2,060
Median Rent
$299,500
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 - High-end office building with modern amenities and tranquil pond view.
Where is this office building located?
The property is located at 9505 N Kelley Avenue Oklahoma City, OK.
What is the asking price?
The asking price for this property is $3,758,700.
What are key features of this property?
This property features: 14,740 sq ft of meticulously designed commercial office space.; Modern amenities and high‑end finishes throughout.; Roof, dormers and gutters replaced in June 2024.
