Remodeled Live-Work
For Sale
$769,000
1123 NW 14th Street, Oklahoma City, OK 73106
SINGLE_FAMILY - Oklahoma City, OK
Property Size3,802 SF
Lot Size0.16 Acres
Price / SF$202.26
Days on Market69
Property Features for 1123 NW 14th Street
General Information
Property type
Residential
Property subtype
Office
Zoning
Commercial
Directions
NW 14th and Classen, west to property.
Standard status
Active
APN
1123NW14th73106
Size
3,802 SF
Lot size
0.16 Acres
Utilities
Sewer type
Public Sewer
Heating system
Zoned
Cooling system
Zoned
Water source
Public
Building Details
Year built
1914
Floors in Building
3
Building materials
Frame
Listing Agency:
RE/MAX Preferred · RE/MAX International
(405) 751-4848
Listed By:
Paul Brooks · License #116430
(405) 990-0548
Added: Jun 5
Changed: Jun 8
Last Checked: Aug 12 at 8:06PM
MLS# 1233289
Copyright © 2026 MLSOK, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This remodeled live-work property has been renovated head to toe and is currently operating as a law office. The configuration supports both day-to-day work use and live-in functionality, making it geared toward an owner who wants to keep personal and professional routines under one roof.
Located at 1123 NW 14th Street in Oklahoma City, the property is described as being near the Classen 10Penn area, with nearby dining and attractions referenced in the remarks. Off-street parking is fully fenced and gated, and the listing also notes overflow parking for clients across the street. Please note there is no sign on the property, and showings are by appointment only. Buyers and buyer’s brokers are advised to verify all information.
For tenants, buyers, or owner-operators looking for a turnkey work-from-home setup, the current law office use and recently completed remodel may reduce time and uncertainty at the outset. The fenced, gated parking and client overflow arrangement are practical for professional visits and scheduled appointments, particularly for an owner who prefers to minimize commuting.
Located at 1123 NW 14th Street in Oklahoma City, the property is described as being near the Classen 10Penn area, with nearby dining and attractions referenced in the remarks. Off-street parking is fully fenced and gated, and the listing also notes overflow parking for clients across the street. Please note there is no sign on the property, and showings are by appointment only. Buyers and buyer’s brokers are advised to verify all information.
For tenants, buyers, or owner-operators looking for a turnkey work-from-home setup, the current law office use and recently completed remodel may reduce time and uncertainty at the outset. The fenced, gated parking and client overflow arrangement are practical for professional visits and scheduled appointments, particularly for an owner who prefers to minimize commuting.
Key Highlights
- Remodeled frame property built in 1914, currently operating as a law office
- Zoned heating and zoned cooling
- Public water and public sewer service
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
$54,092
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
7.03%
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%
$1,081,840
$1.1M
Cap Rate 7%
$772,743
$772.7K
Cap Rate 9%
$601,022
$601.0K
Market Conditions
NOI Build-Up for 3,802 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
$94.9K $24.96/SF
− Vacancy
−$22.8K −$5.99/SF
EGI
$72.1K $18.97/SF
− OpEx
−$18.0K −$4.74/SF
NOI
$54.1K $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%
$1,081,840
Cap Rate 7%
$772,743
Cap Rate 9%
$601,022
Alternative Uses
Best Use
Office B
$772.7K
$676.2K – $901.5K
NOI $54,092 @ 7.0% cap · market cap 7.03%
Second Best
Mixed Use
$749.5K
$655.9K – $874.5K
NOI $52,468 @ 7.0% cap · market cap 6.82%
Theoretical Best
Specialty Retail
$1.30M
$1.14M – $1.52M
NOI $91,020 @ 7.0% cap · market cap 11.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
674
Businesses Nearby
Explore this area
Business Placement
Demographics for 73106, OK
12,956
Population
6,069
Households
2.1
Avg Household Size
32
Median Age
40%
College-Educated
85%
High-School Grad
3.0 sq mi
ZIP Area
4,319
Density / Sq Mi
$51,934
Median Household Income
$32,145
Median Earnings
$1,050
Median Rent
$262,500
Median Home Value
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?
Live-work space - Head-to-toe remodeled live-work property currently used as a law office with fenced, gated client parking.
Where is this live-work space located?
The property is located at 1123 NW 14th Street Oklahoma City, OK.
What is the asking price?
The asking price for this property is $769,000.
What are key features of this property?
This property features: Remodeled frame property built in 1914, currently operating as a law office; Zoned heating and zoned cooling; Public water and public sewer service
