Historic Mixed-Use Building For
For Sale
$10,500,000
11 NE 11th St, Oklahoma City, OK 73104
97,000 SF mixed-use building with storage and office space.
Property Size97,000 SF
Price / SF$108.25
Days on Market333
Property Features for 11 NE 11th St
General Information
Standard status
Active
Size
97,000 SF
Property subtype
Industrial
Building Details
Building Size
97,000 SF
Year Built
1949
Listing Agency:
Creek Price Edwards and Company - Oklahoma City
(405) 664-0062
Listed By:
Girma Moaning · License #OK #161176
(405) 664-0062
Source:
Tcnworldwide
Added: Sep 25, 2025
Changed: Aug 21
Last Checked: Aug 22 at 3:39AM
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 Creek Price Edwards and Company - Oklahoma City
Investment Insights
Based on property information with market context.
Available for purchase is a multi-tenant building comprising executive-style offices and storage units. The property contains approximately 162 self-storage units and 31 executive offices. This 97,000 SF historic two-story mixed-use building, constructed in 1948, faces I-235 and features a mix of mini storage, executive suites, and warehouse space. The property is located on the northwest corner of NE 11th & N Oklahoma Avenue, offering proximity to Downtown OKC, the Innovation District, Automobile Alley, and Midtown, with easy access to Interstate-235. It includes a newly paved parking lot with 180 spaces and offers OKC skyline views. This property presents a prime redevelopment opportunity.
Key Highlights
- Prime redevelopment opportunity.
- 97,000 SF historic two‑story mixed‑use building facing I‑235.
- Mix of mini storage, executive suites, and warehouse spaces.
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
$909,317
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
8.66%
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%
$18,186,340
$18.2M
Cap Rate 7%
$12,990,243
$13.0M
Cap Rate 9%
$10,103,522
$10.1M
Market Conditions
NOI Build-Up for 97,000 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
$1.40M $14.40/SF
− Vacancy
−$97.8K −$1.01/SF
EGI
$1.30M $13.39/SF
− OpEx
−$389.7K −$4.02/SF
NOI
$909.3K $9.37/SF
Area
Oklahoma City, OK
Vacancy
7.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$18,186,340
Cap Rate 7%
$12,990,243
Cap Rate 9%
$10,103,522
Alternative Uses
Best Use
Office B
$19.71M
$17.25M – $23.00M
NOI $1,380,038 @ 7.0% cap · market cap 13.14%
Second Best
Self Storage
$12.99M
$11.37M – $15.16M
NOI $909,317 @ 7.0% cap · market cap 8.66%
Theoretical Best
Specialty Retail
$33.17M
$29.03M – $38.70M
NOI $2,322,180 @ 7.0% cap · market cap 22.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,658
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?
Self storage facility - 97,000 SF mixed-use building with storage and office space.
Where is this self storage facility located?
The property is located at 11 NE 11th St Oklahoma City, OK.
What is the asking price?
The asking price for this property is $10,500,000.
What are key features of this property?
This property features: Prime redevelopment opportunity.; 97,000 SF historic two‑story mixed‑use building facing I‑235.; Mix of mini storage, executive suites, and warehouse spaces.
