Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Small-Lot Multifamily Property Title is generated by Realmo AI

    116 NW 31st Street, Oklahoma City, OK 73118

    View on Map
    Claim this Listing
    New
    Picture of Specialty properties at 116 NW 31st Street, Oklahoma City, OK
    For Sale
    $315,000

    MULTI_FAMILY - Other - Oklahoma City, OK

    Property size:
    1,968 SF
    Lot size:
    0.16 Acres
    Price / SF:
    $160/SF
    Added:
    Jun 3, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 5 at 12:06 am

    Property Features for 116 NW 31st Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    2
    Rooms
    Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 2, Bedroom 1, Bedroom 4
    Parking
    2
    Fireplace
    1
    Standard status
    Active
    APN
    116NW31st73118
    Size
    1,968 SF
    Lot size
    0.16 Acres

    Utilities

    Cooling system
    Electric, Central Air

    Building Details

    Year built
    1930
    Floors in Building
    1
    Building materials
    Brick & Frame
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Jennifer Graham

    Listing agent Jennifer Graham License #030594

    Listing office KirkAngel, Inc. 1025 NW Grand Blvd, Oklahoma City, OK

    Listing date Jun 3, 2026

    MLS# 1232855 Listing URL

    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.

    HighLights

    • Brick & frame construction
    • Central air conditioning with electric cooling
    • Composition shingle roof
    • Fireplace included
    • Built in 1930
    • 4 bedrooms and 2 bathrooms

    Overview

    This for-sale multifamily property is offered as a small-lot asset with a total building size of 1,968 square feet. The property sits on a 0.1607-acre lot, providing a compact footprint suitable for owners seeking a manageable residential income product. Additional improvements, unit count, and interior layouts are not provided in the available information.

    The address is 116 NW 31st Street, Oklahoma City, Oklahoma 73118, in Oklahoma County. As presented, the offering includes the land and building size details above, with no further specifics on frontage, access points, or surrounding tenants included.

    The property may fit investors or owner-operators looking for a smaller multifamily holding within Oklahoma City. With known building and lot sizes, buyers can underwrite space needs and maintenance considerations for a compact asset. As with any multifamily purchase, prospective buyers should conduct their own due diligence regarding current configuration, condition, and any leasing or operational considerations, since unit mix, occupancy, and rent details are not included here.
    Property Profile Location Intelligence

    Current Use by Public Records

    Specialty properties

    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.

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Cleveland
    State
    Oklahoma
    Longitude
    -97.514664
    Latitude
    35.501202

    Nearby Similar for Sale

    • $1,000,000
      10,588 SF

      Versatile Commercial Property, Oklahoma City

      Expansive commercial property near Downtown OKC, ideal for entertainment venue.
      1508 SE 25th Street, Oklahoma City, OK 73129
      View Details
    • $1,550,000
      3,262 SF

      Turn-Key Medical Office Opportunity

      Free-standing medical office in South Oklahoma City/Moore trade area.
      2804 SW 134th Street, Oklahoma City, OK 73170
      View Details
    • $3,000,000
      9,374 SF

      Oklahoma City Commercial Property

      Move-in ready facility suited for medical, school, or office use.
      14500 S Western Avenue, Oklahoma City, OK 73170
      View Details
    • $540,000
      3,597 SF

      Oklahoma City Commercial Opportunity

      Commercial property with high visibility and strong traffic flow.
      1045 SW 89th Street, Oklahoma City, OK 73139
      View Details
    • $685,000
      2,975 SF

      Oklahoma City Commercial Repair Shop

      Commercial property suitable for a repair shop or other business.
      901 S Pennsylvania Avenue, Oklahoma City, OK 73108
      View Details
    • $2,000,000
      6,000 SF

      Oklahoma City Commercial Building For Sale

      6,000 sq ft commercial building in high-traffic area.
      1015 N Shartel, Oklahoma City, OK 73102
      View Details
    • $850,000
      1,719 SF

      Versatile Commercial Office Building

      One-story office building with expansion potential in central Oklahoma City.
      1220 NW 50th Street, Oklahoma City, OK 73118
      View Details
    • $1,200,000
      3,700 SF

      Oklahoma City Retail Opportunity

      Income-producing retail property with established liquor store and additional tenant.
      3637 N Pennsylvania, Oklahoma City, OK 73112
      View Details
    • $2,500,000
      14,485 SF

      Bricktown Historic Office/Warehouse Opportunity

      Historic Bricktown office/warehouse building available for redevelopment or continued commercial use.
      120 E Main Street, Oklahoma City, OK 73104
      View Details
    • $1,250,000
      31,234 SF

      Updated Commercial Building with Income

      Two-story commercial building with 31,000+ sq. ft. and strong income.
      1900 N Macarthur Boulevard, Oklahoma City, OK 73127
      View Details
    • $1,625,000
      9,122 SF

      Updated Office Building with Long-Term Lease

      Office building updated in 2026 and leased to a national tenant under a long-term agreement.
      1624 SW 122nd Street, Oklahoma City, OK 73170
      View Details
    • $2,995,000
      1,768 SF

      Oklahoma City Commercial Property

      Commercial property with frontage on Meridian, suitable for redevelopment.
      3600 S Meridian Avenue, Oklahoma City, OK 73119
      View Details

    FAQs

    What type of property is this?
    Specialty property - For sale small-lot multifamily with 1,968 SF building on a 0.1607-acre lot in Oklahoma City, OK.
    Where is this specialty property located?
    The property is located at 116 NW 31st Street Oklahoma City, OK.
    What is the asking price?
    The asking price for this property is $315,000.
    What are key features of this property?
    This property features: Brick & frame construction; Central air conditioning with electric cooling; Composition shingle roof
    (405) 627-1183
    We can help!
    Listing Contact
    Jennifer Graham
    Real Estate License ID: 030594
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    116 NW 31st Street, Oklahoma City, OK 73118
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!