Remodeled Live-Work Office
For Sale
$769,000
1123 14th Street, Oklahoma City, OK 73106
Recently remodeled live-work office currently operating as a law office, with fully fenced and gated parking.
Property Size3,802 SF
Price / SF$202.26
Days on Market121
Property Features for 1123 14th Street
General Information
Standard status
Active
Size
3,802 SF
Property subtype
Office
Additional Details
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$7,175
Amenities
A/C - Zone
3
Building Details
Year Built
1914
Listing Agency:
RE/MAX Preferred
(405) 990-0548
Listed By:
Paul Brooks · License #116430
(405) 990-0548
Source:
Xome
Added: Apr 11
Changed: Aug 8
Last Checked: Aug 9 at 4:44AM
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 RE/MAX Preferred
Investment Insights
Based on property information with market context.
This remodeled live-work property has been renovated head to toe and is currently configured for professional office use as a law office. The offering includes fully fenced and gated parking for occupants and clients, along with overflow parking available across the street.
The property is located near the Classen 10Penn area, with nearby dining and attractions. Access for clients is supported by the on-site fenced and gated parking setup and the nearby overflow parking across the street.
For a business owner seeking to combine workspace and personal use, the live-work configuration may offer a practical solution. The current law office setup and recent comprehensive remodeling can support continued professional office use. Buyer and buyer’s broker should verify all information, as there is no sign on the property, and showings are by appointment only—do not walk the property or enter during business hours.
The property is located near the Classen 10Penn area, with nearby dining and attractions. Access for clients is supported by the on-site fenced and gated parking setup and the nearby overflow parking across the street.
For a business owner seeking to combine workspace and personal use, the live-work configuration may offer a practical solution. The current law office setup and recent comprehensive remodeling can support continued professional office use. Buyer and buyer’s broker should verify all information, as there is no sign on the property, and showings are by appointment only—do not walk the property or enter during business hours.
Key Highlights
- Recently remodeled live‑work property currently operating as a law office
- Year built: 1914
- A/C zoned cooling and heating listed as 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
$54,092
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
7.03%
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%
$1,081,840
$1.1M
Cap Rate 7%
$772,743
$772.7K
Cap Rate 9%
$601,022
$601.0K
Market Conditions
NOI Build-Up for 3,802 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
$94.9K $24.96/SF
− Vacancy
−$22.8K −$5.99/SF
EGI
$72.1K $18.97/SF
− OpEx
−$18.0K −$4.74/SF
NOI
$54.1K $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%
$1,081,840
Cap Rate 7%
$772,743
Cap Rate 9%
$601,022
Alternative Uses
Best Use
Office B
$772.7K
$676.2K – $901.5K
NOI $54,092 @ 7.0% cap · market cap 7.03%
Second Best
Mixed Use
$749.5K
$655.9K – $874.5K
NOI $52,468 @ 7.0% cap · market cap 6.82%
Theoretical Best
Specialty Retail
$1.30M
$1.14M – $1.52M
NOI $91,020 @ 7.0% cap · market cap 11.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,328
Businesses Nearby
Explore this area
Business Placement
Demographics for 73106, OK
12,956
Population
6,069
Households
2.1
Avg Household Size
32
Median Age
40%
College-Educated
85%
High-School Grad
3.0 sq mi
ZIP Area
4,319
Density / Sq Mi
$51,934
Median Household Income
$32,145
Median Earnings
$1,050
Median Rent
$262,500
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?
Live-work space - Recently remodeled live-work office currently operating as a law office, with fully fenced and gated parking.
Where is this live-work space located?
The property is located at 1123 14th Street Oklahoma City, OK.
What is the asking price?
The asking price for this property is $769,000.
What are key features of this property?
This property features: Recently remodeled live‑work property currently operating as a law office; Year built: 1914; A/C zoned cooling and heating listed as 3
