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    Property profile & analytics

    416 15Th St Edmond, OK 73013

    • Medical offices
    • 9,992 SF
    • 1.12 lot acres
    For Lease
    View listing
    $15 SF/Yr
    Last Sale
    May 05, 2025
    $2,275,000
    Value Estimations
    $1,745,000
    Cap Rate Potential
    6%
    Medical offices
    Location Intelligence
    Property ID
    US69-0716093
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • MATH Academy & Learning Center / School
    • Fusion Integration / Professional Services / Electronics Store
    • Dr. Savannah Stumph / Pediatrician / Practitioner Service Location
    • Kristen Callaway LMFT / Counselor / Emdr Psychotherapist
    • HealthMark / Medical Clinic

    Property Details for 416 15Th St

    Year built
    2008
    Construction
    WOOD FRAME
    Lot size
    1.12 lot acres
    Property size
    9,992 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    12-589-1045
    APU
    125891045

    Description

    This single-story, Class B office building, located at 416 W 15th St in Edmond, Oklahoma (zip code 73013), offers exceptional office space within the Signal Ridge Office Park. The property, situated on a 1.99-acre lot, boasts a total of 6,547 square feet and features three available contiguous office spaces ranging from 1,290 to 3,444 square feet. Each space offers a private entrance, providing excellent privacy and convenience for multiple tenants. Built in 1999 and renovated in 2004, the building is well-maintained and situated in a desirable, tree-lined location at the cross streets of W 15th & Fretz Ave. The property is locally managed and offers a Modified Gross lease, meaning tenants are responsible for utilities. The property's APN is R125891040. This presents a fantastic opportunity for businesses seeking flexible and well-appointed office space in a thriving Edmond location. The building's single-story design provides easy accessibility, while the divisible suites cater to a variety of business needs and sizes. Don't miss this chance to secure your ideal workspace in this attractive office park.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,740,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,730,000
      6.5%
      $1,595,000
      7%
      $1,480,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,906,000
      Market price range: $1.49M - $2.23M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,905,000
      Current use
      RESTAURANT
      $2,715,000
      Change: +43% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $2,450,000
      Change: +28% Conversion: Difficult
      RETAIL STORES
      $2,005,000
      Change: +5% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,650,000
      Change: -13% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,575,000
      Change: -17% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Edmond
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.4898
    Latitude
    35.638
    CBSA code
    36420
    CBSA name
    OKLAHOMA CITY, OK METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $500,000
      3,099 SF

      1257 33rd St

      MEDICAL BUILDING • 3,099 SF
      1257 33rd St, Edmond, OK 73013-6307
      View Details
    • Value Estimation
      $375,000
      10,370 SF

      14701 Santa Fe Ave

      MEDICAL BUILDING • 10,370 SF
      14701 Santa Fe Ave, Edmond, OK 73013-3411
      View Details
    • Value Estimation
      $490,000
      17,700 SF

      1616 Kelley Pointe Pkwy

      MEDICAL BUILDING • 17,700 SF
      1616 Kelley Pointe Pkwy, Edmond, OK 73013
      View Details
    • Value Estimation
      $450,000
      17,202 SF

      1801 Kelly Ave

      MEDICAL BUILDING • 17,202 SF
      1801 Kelly Ave, Edmond, OK 73013-3602
      View Details
    • Value Estimation
      $880,000
      4,235 SF

      16362 Muirfield Pl

      MEDICAL BUILDING • 4,235 SF
      16362 Muirfield Pl, Edmond, OK 73013-9145
      View Details
    • Value Estimation
      $370,000
      2,574 SF

      420 15th St

      MEDICAL BUILDING • 2,574 SF
      420 15th St, Edmond, OK 73013-3613
      View Details

    Similar Nearby for Sale

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      0.86 Acres Office Lots For Sale-2222, 2224, 2226 NW 164th Street
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    • $1,400,000
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    • $3,750,000
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      Fully occupied, prestigious Class A office building in Edmond, OK.
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    • $990,000
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      Prime Edmond location, 54,000 SF office space.
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      View Details

    Similar Nearby for Lease

    • $7 SF/Yr
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      Flexible workspace solutions in Edmond, OK.
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      Edmond Medical Office For Lease

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    • $14 SF/Yr
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      Remodeled Medical Office Space

      Former medical space with abundant parking and handicap access.
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      View Details
    • $11 SF/Yr
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      Edmond Coworking Space For Lease

      Prime Edmond location, flexible office suites.
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      View Details
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    416 15Th St
    Edmond, OK 73013
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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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