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    16446 NE 23Rd St Choctaw, OK 73020

    Sponsored
    For Sale
    $225,000

    SINGLE_FAMILY - Choctaw, OK

    Type:Office
    Property size:
    1,543 SF
    Lot size:
    0.32 Acres
    Days on Market:
    90
    Last Refresh:
    Jan 27 at 3:06 pm

    Property Features for 16446 NE 23Rd St

    General Information

    Property type
    Residential
    Property subtype
    Office
    Standard status
    Active
    Zoning
    Commercial
    APN
    16446NE23rd73020
    Size
    1,543 SF
    Lot size
    0.32 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central, Electric (Heating)
    Cooling system
    Gas (Cooling), Central Air
    Water source
    Well

    Building Details

    Year built
    1962
    Floors in Building
    1
    Building materials
    Brick & Frame

    We can help!

    Listing Contact
    Jeff Scott
    Jeff Scott

    Sunbelt Group Inc. dba Century 21 Clinkenbeard Agency (405) 799-2100

    Listing agent Jeff Scott (405) 623-8976

    Listing date Oct 30, 2025

    MLS# 1180178

    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.

    Learn more

    Property Insight Report

    Overview

    Office Building on NE 23rd Street

    Located on NE 23rd Street in Choctaw, Oklahoma, this commercial property offers 1543 square feet of space suitable for various business operations. The building currently features three office areas with dimensions of 11x22, 12x14, and 13x14, along with a 17x13 foyer. A fully functional kitchen is included. The property contains a full bath and a half bath. The front parking area is a gravel lot with space for at least 10 cars. A small back patio and yard provide an outdoor space. Storage areas are available for paperwork and equipment. Situated less than 3 miles from the intersection of NE 23rd and the Kickapoo Turnpike, the location provides convenient access for occupants and clients. The 0.3214-acre lot is located close to restaurants, shopping, and entertainment options in Harrah and Choctaw. The property could accommodate a small real estate company, insurance agent, accountants, attorney, or any business needing a small office. The space could also be configured as a salon or boutique. The property could also be leased out.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Self-Service & Touchless Automatic ... Self Service Car Wash Zoe Haskins, CPA, ... Certified Public Accountant

    Suggested Use

    Realty agency Spa & Massage Hair Salon Nail Salon Building Supply Auto Repair Shop Clothing Store Pharmacy Gym & Fitness Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Choctaw
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.239821
    Latitude
    35.492783

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    FAQs

    What type of property is this?
    Office building - Office building with multiple configurations and convenient location in Choctaw, OK.
    Where is this office building located?
    The property is located at 16446 NE 23Rd St Choctaw, OK.
    What is the asking price?
    The asking price for this property is $225,000.
    What are key features of this property?
    This property features: - Convenient Location: Situated on NE 23rd Street, less than 3 miles from the Kickapoo Turnpike, providing easy access.; - Versatile Office Space: Features 3 office areas and a 17x13 foyer, suitable for various business types.; - Functional Amenities: Includes a fully functional kitchen, a full bath, and a half bath.
    (405) 623-8976
    Request Owner's contact information
    16446 NE 23Rd St Choctaw, OK 73020
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    Choctaw, OK 73020
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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
    16446 NE 23Rd St Choctaw, OK 73020
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    We can help!
    Listing Contact
    Jeff Scott
    Jeff Scott
    Real Estate License ID: 110117
    (405) 623-8976
    Learn more
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