Mixed-Use Property with
New
For Sale
$799,000
8725 NE 23rd Street, Spencer, OK 73141
Commercial Sale, Spencer, OK
Property Size4,600 SF
Lot Size1.30 Acres
Price / SF$173.70
Days on Market1
Property Features for 8725 NE 23rd Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
Commercial
Accessibility
Accessible Approach with Ramp
Standard status
Active
APN
8725NE23rd73141
Size
4,600 SF
Lot size
1.30 Acres
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Electric
Water source
Public
Amenities
four private offices
kitchen
restrooms
slat board walls
moveable sales counter
roll-up door
double glass doors
storage areas
parts storage
exterior lean-to
security system
LED lighting
rotating crane
portable school building
Building Details
Year built
2015
Floors in Building
1
Building materials
Steel Siding, Stone
Listing Agency:
RE/MAX Cobblestone · RE/MAX International
(405) 582-2040
Listed By:
Susan Planer Phillips · License #133393
(405) 202-7928
Added: Oct 7
Last Checked: Oct 7 at 10:06PM
MLS# 1252813
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 four-building commercial property at 8725 NE 23rd Street includes a showroom and office building, a mechanical shop, an industrial bay, and a portable school building. The insulated showroom has four private offices, a kitchen, two restrooms, display walls, storage areas, a roll-up door, and glass entry doors. Office furniture remains. The heated mechanical shop has two roll-up doors, while the industrial bay includes a rotating crane and four roll-up doors. LED lighting and security systems are installed in the shop and bay. The portable building can provide additional office, training, storage, or specialty workspace. The property totals 1.3 acres and is zoned Commercial. Public water and sewer serve the site; electric heating and cooling are present. The showroom building was built in 2015.
Key Highlights
- Four buildings on a 1.3‑acre parcel
- Showroom building measures 40x100x12 and includes four private offices
- Mechanical shop measures 30X40X12; insulated, heated, and fitted with 2 roll‑up doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,553
Cap Rate
6.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$971,060
$971.1K
Cap Rate 7%
$693,614
$693.6K
Cap Rate 9%
$539,478
$539.5K
Market Conditions
NOI Build-Up for 4,600 SF
Gross rent
$76.7K $16.68/SF
− Vacancy
−$7.4K −$1.60/SF
EGI
$69.4K $15.08/SF
− OpEx
−$20.8K −$4.52/SF
NOI
$48.6K $10.56/SF
Area
Oklahoma County, OK
Vacancy
9.60%
Lease Rate
$16.68 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$971,060
Cap Rate 7%
$693,614
Cap Rate 9%
$539,478
Alternative Uses
Best Use
Retail
$693.6K
$606.9K – $809.2K
NOI $48,553 @ 7.0% cap · market cap 6.08%
Second Best
Mixed Use
$594.2K
$519.9K – $693.2K
NOI $41,591 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$958.1K
$838.3K – $1.12M
NOI $67,067 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
197
Businesses Nearby
141k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 45%
Superstores 42%
Shops & Services 12%
Walmart
Superstores
59,490 visits/mo
0.2 miles
McDonald's
Dining
21,036 visits/mo
0.2 miles
Braum's Ice Cream & Dairy Stores
Dining
12,758 visits/mo
0.3 miles
Murphy USA
Shops & Services
9,702 visits/mo
0.3 miles
Taco Bell
Dining
8,437 visits/mo
0.2 miles
Demographics for 73141, OK
2,671
Population
1,260
Households
2.1
Avg Household Size
42
Median Age
14%
College-Educated
85%
High-School Grad
10.8 sq mi
ZIP Area
247
Density / Sq Mi
$64,130
Median Household Income
$34,838
Median Earnings
$859
Median Rent
$129,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Four buildings combine customer-facing space, offices, a heated mechanical shop, and an industrial bay on a 1.3-acre parcel.
Where is this mixed-use property located?
The property is located at 8725 NE 23rd Street Spencer, OK.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Four buildings on a 1.3‑acre parcel; Showroom building measures 40x100x12 and includes four private offices; Mechanical shop measures 30X40X12; insulated, heated, and fitted with 2 roll‑up doors
