Remodeled Live-Work
For Sale
$769,000
1123 NW 14th Street, Oklahoma City, OK 73106
Commercial Sale, Oklahoma City, OK
Property Size3,802 SF
Lot Size0.16 Acres
Price / SF$202.26
Days on Market94
Property Features for 1123 NW 14th Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Commercial
Directions
NW 14th and Classen, west to property.
Standard status
Active
APN
1123NW14th73106
Size
3,802 SF
Lot size
0.16 Acres
Utilities
Sewer type
Public Sewer
Heating system
Zoned
Cooling system
Zoned
Water source
Public
Building Details
Year built
1914
Floors in Building
3
Building materials
Frame
Listing Agency:
RE/MAX Preferred · RE/MAX International
(405) 751-4848
Listed By:
Paul Brooks · License #116430
(405) 990-0548
Added: Jun 5
Changed: Aug 19
Last Checked: Sep 6 at 5:06AM
MLS# 1233289
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 3,802-square-foot live-work property occupies a 0.161-acre lot and has undergone a comprehensive recent remodel. The building is currently configured as a law office, offering an established professional setting within a property classified for combined living and working use. Frame construction, zoned heating, zoned cooling, and public water and sewer serve the building.
A fully enclosed, gated parking area is provided on site, with additional client parking available across the street. The property is situated near the Classen 10Penn area of Oklahoma City, close to its dining and entertainment offerings. Built in 1914, the building carries a long-standing commercial presence while providing updated improvements for its current use.
A fully enclosed, gated parking area is provided on site, with additional client parking available across the street. The property is situated near the Classen 10Penn area of Oklahoma City, close to its dining and entertainment offerings. Built in 1914, the building carries a long-standing commercial presence while providing updated improvements for its current use.
Key Highlights
- 3,802‑square‑foot live‑work property on a 0.161‑acre lot
- Recently remodeled throughout and currently configured as a law office
- Fully fenced and gated on‑site parking
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
Single-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,989
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 commercial property combines professional office use with a live-work configuration.
Where is this live-work space located?
The property is located at 1123 NW 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: 3,802‑square‑foot live‑work property on a 0.161‑acre lot; Recently remodeled throughout and currently configured as a law office; Fully fenced and gated on‑site parking
