Downtown Office Building
For Sale
$795,000
10 8th Street, Oklahoma City, OK 73104
Owner-occupied office building on a single-family home footprint with development-ready lot size and parking flexibility.
Property Size2,797 SF
Price / SF$284.23
Days on Market397
Property Features for 10 8th Street
General Information
Standard status
Active
Size
2,797 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$5,704
Amenities
3
Building Details
Year Built
1953
Listing Agency:
Salt Real Estate Inc
(405) 919-3139
Listed By:
Erick Silva
(405) 919-3139
Source:
Xome
Added: Jul 23, 2025
Changed: Aug 16
Last Checked: Aug 23 at 3:36AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Salt Real Estate Inc
Investment Insights
Based on property information with market context.
This downtown office property is currently owner-occupied and was originally built as a single-family home. The asset sits on a lot sized at approximately 8,398 square feet and offers room for parking, expansion, or future redevelopment. The owner is primarily pursuing a sale, but is also open to leasing and tenant improvements for qualified occupants.
The property is located in the heart of downtown Oklahoma City and is directly across from the 8th Street Market. It also benefits from proximity to dining and entertainment options along the surrounding downtown corridor.
With a practical layout rooted in a residential footprint and the flexibility to be reconfigured, the building can support a range of occupancy plans, including office use and potential alternative conversions, subject to applicable requirements.
The property is located in the heart of downtown Oklahoma City and is directly across from the 8th Street Market. It also benefits from proximity to dining and entertainment options along the surrounding downtown corridor.
With a practical layout rooted in a residential footprint and the flexibility to be reconfigured, the building can support a range of occupancy plans, including office use and potential alternative conversions, subject to applicable requirements.
Key Highlights
- Owner‑occupied office currently operating on a single‑family home footprint
- Lot size is 8,398 SF (0.19 acres), offering space for expansion, parking, or future uses
- Guest facilities: 3
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
$39,793
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
5.01%
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%
$795,860
$795.9K
Cap Rate 7%
$568,471
$568.5K
Cap Rate 9%
$442,144
$442.1K
Market Conditions
NOI Build-Up for 2,797 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
$69.8K $24.96/SF
− Vacancy
−$16.8K −$5.99/SF
EGI
$53.1K $18.97/SF
− OpEx
−$13.3K −$4.74/SF
NOI
$39.8K $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%
$795,860
Cap Rate 7%
$568,471
Cap Rate 9%
$442,144
Alternative Uses
Best Use
Office B
$568.5K
$497.4K – $663.2K
NOI $39,793 @ 7.0% cap · market cap 5.01%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$956.6K
$837.0K – $1.12M
NOI $66,960 @ 7.0% cap · market cap 8.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,858
Businesses Nearby
Explore this area
Business Placement
Demographics for 73104, OK
3,545
Population
2,405
Households
1.5
Avg Household Size
29
Median Age
75%
College-Educated
97%
High-School Grad
1.6 sq mi
ZIP Area
2,216
Density / Sq Mi
$69,886
Median Household Income
$59,023
Median Earnings
$1,536
Median Rent
$341,300
Median Home Value
Market
Vacancy Rate% for Office in Oklahoma City, OK
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Owner-occupied office building on a single-family home footprint with development-ready lot size and parking flexibility.
Where is this office building located?
The property is located at 10 8th Street Oklahoma City, OK.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Owner‑occupied office currently operating on a single‑family home footprint; Lot size is 8,398 SF (0.19 acres), offering space for expansion, parking, or future uses; Guest facilities: 3
