Commercial Office Building with Conversion
For Sale
$795,000
10 NE 8th Street, Oklahoma City, OK 73104
Commercial Sale, Oklahoma City, OK
Property Size2,797 SF
Lot Size0.19 Acres
Price / SF$284.23
Days on Market201
Property Features for 10 NE 8th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Standard status
Active
APN
10NE8th73104
Size
2,797 SF
Lot size
0.19 Acres
Building Details
Year built
1953
Listing Agency:
Salt Real Estate Inc
(405) 839-7070
Listed By:
Erick Silva
(405) 919-3139
Added: Feb 2
Changed: Aug 20
Last Checked: Aug 22 at 8:06PM
MLS# 1211640
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.
The property contains a 2,797-square-foot office building on an 8,398-square-foot lot, or approximately 0.1928 acres. Built in 1953, the asset is currently used as an owner-occupied office and was originally constructed as a single-family home. Commercial zoning supports its present office use, while the source information identifies office, residential conversion, mixed-use, and rental applications as potential directions.
Located at 10 NE 8th Street in Oklahoma City, the property sits across from 8th Street Market. Breweries, pickleball courts, coffee shops, restaurants, and other urban amenities are described as being within walking distance. The owner is primarily seeking a sale and has indicated openness to leasing to a qualified tenant, with tenant improvements potentially accommodated.
Located at 10 NE 8th Street in Oklahoma City, the property sits across from 8th Street Market. Breweries, pickleball courts, coffee shops, restaurants, and other urban amenities are described as being within walking distance. The owner is primarily seeking a sale and has indicated openness to leasing to a qualified tenant, with tenant improvements potentially accommodated.
Key Highlights
- 2,797‑square‑foot office building on an 8,398‑square‑foot lot
- Approximately 0.1928 acres with Commercial zoning
- Current owner‑occupied office use; originally built as a single‑family home
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
Lease Details
Single-tenant
Tenancy
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Owner-occupied premises with commercial zoning and stated potential for office, residential, mixed-use, or rental applications.
Where is this office building located?
The property is located at 10 NE 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: 2,797‑square‑foot office building on an 8,398‑square‑foot lot; Approximately 0.1928 acres with Commercial zoning; Current owner‑occupied office use; originally built as a single‑family home
