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    1015 W Ithica St Broken Arrow, OK 74012

    View on Map
    Sponsored
    For Sale
    $1,170,000

    COMMERCIAL - Broken Arrow, OK

    Type:Office
    Property size:
    4,500 SF
    Lot size:
    0.67 Acres
    Days on Market:
    3
    Last Refresh:
    Mar 12 at 5:06 am

    Property Features for 1015 W Ithica St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Standard status
    Active
    Zoning
    PUD OM
    APN
    81790-84-22-24980
    Interior features
    Mini-Kitchen, Smoke Detector, Window Treatment
    Exterior features
    Sidewalk, Sprinkler System
    Size
    4,500 SF
    Lot size
    0.67 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1983
    Floors in Building
    1
    Flooring type
    Carpet, Tile
    Building materials
    Frame

    We can help!

    Listing Contact
    Ronda Bender
    Ronda Bender

    Chinowth & Cohen Realtors (918) 392-0900

    Listing agent Ronda Bender (918) 378-1261

    Listing date Mar 10, 2026

    MLS# 2540668

    Copyright © 2026 MLS Technology, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Prime Office Building For Sale

    Located off West Ithica Street in Broken Arrow, OK, this well-maintained commercial office building is situated in the heart of the city's growing professional district. The property is suitable for professional offices, medical, dental, or administrative uses, presenting an opportunity for owner-users or investors seeking a functional, turnkey office asset. The building offers good site access and sufficient onsite parking with approximately 17 private parking spots. The interior features 8 private offices with versatile spaces adaptable to partitioned offices, open workstations, meeting rooms, or specialized uses, along with a communication/copy room, separate lobby, separate reception office, and a large conference room. Construction and utilities meet contemporary standards, including an HVAC system approximately 7 years old and a tankless gas water heater. A new TPO roof is planned for May 2025, and the building was completely renovated and updated in 2018. The building, approximately 4,500 square feet, occupies a desirable lot over 0.665 acres with landscaping and setback, enhancing curb appeal. The location is near Broken Arrow's major service hubs, retail, dining, and amenities, close to medical facilities and other professional businesses, and in a high traffic area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Broken Arrow
    County
    Wagoner
    State
    Oklahoma
    Longitude
    -95.8006132
    Latitude
    36.0202821

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    FAQs

    What type of property is this?
    Office building - Well-maintained commercial office building in Broken Arrow's professional district.
    Where is this office building located?
    The property is located at 1015 W Ithica St Broken Arrow, OK.
    What is the asking price?
    The asking price for this property is $1,170,000.
    What are key features of this property?
    This property features: - Prime location in Broken Arrow's business corridor with strong visibility and easy access to major roads.; - Flexible layout with **8 private offices**, versatile spaces, large conference room, and separate lobby/reception area.; - Suitable for various professional uses and ideal for owner-users or investors.
    (918) 378-1261
    Request Owner's contact information
    1015 W Ithica St Broken Arrow, OK 74012
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    Broken Arrow, OK 74012
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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
    1015 W Ithica St Broken Arrow, OK 74012
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    We can help!
    Listing Contact
    Ronda Bender
    Ronda Bender
    Real Estate License ID: 184787
    (918) 378-1261 (918) 259-0000 (918) 943-3009
    Learn more
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