Building Details

Year built 1948

Listing Agency: Metro First Realty of Edmond k***@gmail.com Show Phone

Listed By: Donna Kay Burn Show Phone

Added: Sep 29 Changed: Oct 2 Last Checked: Oct 7 at 10:06PM

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MLS# 1251453

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 approximately 0.07-acre commercial land parcel includes a 1,585-square-foot building constructed in 1948. Public water is available. The property has access to NW 23rd Street and is near Highways 74 and 40; downtown Oklahoma City is approximately 10 minutes away.

Key Highlights

• Approximately 0.07 acres
• Existing 1,585‑square‑foot building, built in 1948
• Access to NW 23rd Street

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$13,388

Cap Rate

3.35%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$267,760 $267.8K

Cap Rate 7%

$191,257 $191.3K

Cap Rate 9%

$148,756 $148.8K

Market Conditions

NOI Build-Up for 1,585 SF

Gross rent

$25.7K $16.20/SF

− Vacancy

−$1.3K −$0.84/SF

EGI

$24.3K $15.36/SF

− OpEx

−$11.0K −$6.91/SF

NOI

$13.4K $8.45/SF

Area

Oklahoma City, OK

Vacancy

5.20%

Lease Rate

$16.20 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$267,760

Cap Rate 7%

$191,257

Cap Rate 9%

$148,756

Alternative Uses

Best Use

Apartment 5plus

$191.3K

$167.4K – $223.1K (±1% cap)

NOI $13,388 @ 7.0% cap · market cap 3.35%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$542.1K

$474.3K – $632.4K (±1% cap)

NOI $37,945 @ 7.0% cap · market cap 9.49%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Commercial land

Suggested Use

Top Pick Real Estate Agency Building Supply Big Box & Wholesale Store Restaurant Dental Office Law Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

546

Businesses Nearby

Explore this area Business Placement

Demographics for 73107, OK

26,318

Population

12,621

Households

2.1

Avg Household Size

34

Median Age

31%

College-Educated

80%

High-School Grad

7.6 sq mi

ZIP Area

3,463

Density / Sq Mi

$58,428

Median Household Income

$38,753

Median Earnings

$1,014

Median Rent

$143,000

Median Home Value

Questions? Ask Rey

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What type of property is this? Where is this commercial land located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Commercial land - The parcel offers access to NW 23rd Street and includes an existing building.

Where is this commercial land located?

The property is located at 4141 NW 23rd Street Oklahoma City, OK.

What is the asking price?

The asking price for this property is $400,000.

What are key features of this property?

This property features: Approximately 0.07 acres; Existing 1,585‑square‑foot building, built in 1948; Access to NW 23rd Street