16-Unit Mixed-Use
New
For Sale
Contact for pricing
1216 N Blackwelder Ave, Oklahoma City, OK 73106
Modern live/work and residential configuration with direct street access and contemporary finishes.
Property Size19,130 SF
Price / SF$159.44
Days on Market4
Property Features for 1216 N Blackwelder Ave
General Information
Standard status
Active
Size
19,130 SF
Property subtype
Multifamily, Mixed Use
Net Operating Income
$206,692
Additional Details
Road Access
Yes
Multifamily Units
16
Building Details
Year Built
2023
Year Renovated
2021
Units
16
Listing Agency:
Creek Price Edwards
(405) 210-3910
Listed By:
Aden Struble · License #209339
Source:
Crexi
Added: Aug 8
Changed: Aug 11
Last Checked: Aug 11 at 5:39AM
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
Investment Insights
Based on property information with market context.
Located at 1216 N Blackwelder Ave in Oklahoma City, this 16-unit mixed-use property was built in 2023. The building combines nine ground-floor live/work units with residential apartments arranged above, creating a unified modern layout for multiple occupancy formats.
Several live/work spaces include oversized glass garage doors, direct access from the street, and storefront-style exposure. Residential offerings include a three-bedroom, two-bath unit; two-bedroom units with two and one baths; and one-bedroom apartments. Tall ceilings, contemporary finishes, and clean architectural detailing are featured throughout the property.
Several live/work spaces include oversized glass garage doors, direct access from the street, and storefront-style exposure. Residential offerings include a three-bedroom, two-bath unit; two-bedroom units with two and one baths; and one-bedroom apartments. Tall ceilings, contemporary finishes, and clean architectural detailing are featured throughout the property.
Key Highlights
- 16‑unit mixed‑use property built in 2023
- Nine ground‑floor live/work units with direct street access
- Several live/work spaces feature large glass garage doors
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
$272,166
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
8.92%
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%
$5,443,320
$5.4M
Cap Rate 7%
$3,888,086
$3.9M
Cap Rate 9%
$3,024,067
$3.0M
Market Conditions
NOI Build-Up for 19,130 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
$477.5K $24.96/SF
− Vacancy
−$114.6K −$5.99/SF
EGI
$362.9K $18.97/SF
− OpEx
−$90.7K −$4.74/SF
NOI
$272.2K $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%
$5,443,320
Cap Rate 7%
$3,888,086
Cap Rate 9%
$3,024,067
Alternative Uses
Best Use
Office B
$3.89M
$3.40M – $4.54M
NOI $272,166 @ 7.0% cap · market cap 8.92%
Second Best
Mixed Use
$3.77M
$3.30M – $4.40M
NOI $263,994 @ 7.0% cap · market cap 8.66%
Theoretical Best
Specialty Retail
$6.54M
$5.72M – $7.63M
NOI $457,972 @ 7.0% cap · market cap 15.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,166
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Modern live/work and residential configuration with direct street access and contemporary finishes.
Where is this mixed-use property located?
The property is located at 1216 N Blackwelder Ave Oklahoma City, OK.
What is the asking price?
The asking price for this property is $3,050,000.
What are key features of this property?
This property features: 16‑unit mixed‑use property built in 2023; Nine ground‑floor live/work units with direct street access; Several live/work spaces feature large glass garage doors
