Oklahoma City Office
For Sale
Contact for pricing
9112 N Kelley Ave, Oklahoma City, OK 73131
Office building in Tower Lakes Office Park for sale.
Property Size7,857 SF
Price / SF$221.41
Days on Market867
Property Features for 9112 N Kelley Ave
General Information
Standard status
Active
Size
7,857 SF
Class
A
Property subtype
Office
Lease Type
NNN
Building Details
Year Built
2015
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
Blackstone Commercial
Listed By:
David Bohanon · License #138167
(405) 850-0987
Source:
Crexi
Added: May 3, 2024
Changed: Sep 13
Last Checked: Sep 16 at 2:36PM
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
Investment Insights
Based on property information with market context.
The property at 9112 N Kelley Ave is located in the Tower Lakes Office Park in Oklahoma City, OK. This well-maintained commercial real estate asset offers an investment opportunity with a 6% cap rate. The property provides immediate income generation.
Key Highlights
- 6% Cap Rate: Indicates strong financial performance and stability.
- Immediate Income Generation: Offers investors the potential for immediate returns.
- Minimal Vacancy Risk: Suggests a stable tenant base and consistent income stream.
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
$111,783
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
6.43%
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%
$2,235,660
$2.2M
Cap Rate 7%
$1,596,900
$1.6M
Cap Rate 9%
$1,242,033
$1.2M
Market Conditions
NOI Build-Up for 7,857 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
$196.1K $24.96/SF
− Vacancy
−$47.1K −$5.99/SF
EGI
$149.0K $18.97/SF
− OpEx
−$37.3K −$4.74/SF
NOI
$111.8K $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%
$2,235,660
Cap Rate 7%
$1,596,900
Cap Rate 9%
$1,242,033
Alternative Uses
Best Use
Office B
$1.60M
$1.40M – $1.86M
NOI $111,783 @ 7.0% cap · market cap 6.43%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.69M
$2.35M – $3.13M
NOI $188,097 @ 7.0% cap · market cap 10.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
203
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Oklahoma City, OK
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Office building in Tower Lakes Office Park for sale.
Where is this office building located?
The property is located at 9112 N Kelley Ave Oklahoma City, OK.
What is the asking price?
The asking price for this property is $1,739,612.
What are key features of this property?
This property features: 6% Cap Rate: Indicates strong financial performance and stability.; Immediate Income Generation: Offers investors the potential for immediate returns.; Minimal Vacancy Risk: Suggests a stable tenant base and consistent income stream.
