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    9950 SE 15th St Oklahoma City, OK 73130

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    For Sale
    $4,910,000

    Retail property with long-term lease and strong sales.

    Type:Retail
    Property size:
    14,650 SF
    Added:
    Nov 26, 2025
    Days on Market:
    128
    Last Refresh:
    Apr 1 at 9:07 pm

    Property Features for 9950 SE 15th St

    General Information

    Standard status
    Active
    Size
    14,650 SF
    Property subtype
    Retail

    Building Details

    Year Built
    2004

    We can help!

    Listing Contact
    Ryan Bennett
    Ryan Bennett

    Listing agent Ryan Bennett License #CalDRE #01826517

    Listing office Lee & Associates | North San Diego County

    Listing date Nov 26, 2025

    Source Lee-associates

    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 Lee & Associates | North San Diego County

    Overview

    Walgreens Investment Property with Extension

    The property is a 14,650-square-foot retail building with a drive-thru, constructed in 2004, situated on approximately 1.42 acres. The property is subject to an absolute NNN lease with approximately 11.5 years remaining, following a recent lease extension that commenced in July 2024. The location benefits from its proximity to Tinker U.S. Air Force Base, which has 9,000 military and civilian personnel. The property is located approximately 5 miles from the Oklahoma City Air Logistics Complex, Tinker U.S. Air Force Base, and approximately 11 miles from downtown Oklahoma City. The surrounding area has favorable demographics, with an average household income of $109,000 within a 1-mile radius and a population of 93,000 within a 5-mile radius. The property is located in Midwest City, Oklahoma (Oklahoma City). According to Placer.ai, this Walgreens location is ranked in the top 22% nationally and within Oklahoma, with strong reported sales and a 10% rent to sales ratio.
    Location Intelligence

    Current Use by Public Records

    Blue Rhino Tank ... Propane Supplier Walgreens Cosmetic Store Walgreens Photo (Bike/Boat/Book/etc) Store Walgreens Pharmacy Pharmacy Cardtronics Atm

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Comfort Care Pharmacy — 3001 mansfield ave, oklahoma city, ok 73115
    • So Waisted Boutique — 3945 SE 15th St Suite 201, Del City, OK 73115

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Cleveland
    State
    Oklahoma
    Longitude
    -97.3536
    Latitude
    35.4492

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    FAQs

    What type of property is this?
    Drug store - Retail property with long-term lease and strong sales.
    Where is this drug store located?
    The property is located at 9950 SE 15th St Oklahoma City, OK.
    What is the asking price?
    The asking price for this property is $4,910,000.
    What are key features of this property?
    This property features: Absolute NNN Lease with 11.5 Years Remaining: Enjoy a long‑term, passive income stream.; Top 22% Walgreens Nationally: Benefit from a strong performing location.; Strong Reported Sales with 10% Rent to Sales Ratio: Demonstrates a healthy and sustainable business.
    (760) 448-2449
    We can help!
    Listing Contact
    Ryan Bennett
    Ryan Bennett
    Real Estate License ID: CalDRE #01826517
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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