Remodeled Freestanding Office
For Sale
$295,000
1216 NE 23rd Street, Oklahoma City, OK 73111
Updated standalone office property positioned across from TFCU and near Oklahoma City’s Capitol and downtown areas.
Property Size1,272 SF
Days on Market51
Property Features for 1216 NE 23rd Street
General Information
Standard status
Active
Size
1,272 SF
Property subtype
Office Freestanding
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$1,487
Building Details
Building Size
1,272 SF
Year Built
1956
Buildings
1
Listing Agency:
Ariston Realty LLC
Listed By:
Roshonda Wilson
(405) 503-8333
Source:
Stetsonbentley
Added: Aug 18
Changed: Sep 30
Last Checked: Oct 7 at 5:05PM
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 Ariston Realty LLC
Investment Insights
Based on property information with market context.
This freestanding office building was constructed in 1956 and has been fully remodeled, providing a refreshed setting for business operations. Its standalone configuration distinguishes it from multi-tenant office environments while retaining a practical commercial profile.
The property is located across from TFCU and near the state Capitol, the Governor’s mansion, downtown Oklahoma City, and major highways. These nearby civic, business, and transportation references provide clear context for the building’s central Oklahoma City setting.
The property is located across from TFCU and near the state Capitol, the Governor’s mansion, downtown Oklahoma City, and major highways. These nearby civic, business, and transportation references provide clear context for the building’s central Oklahoma City setting.
Key Highlights
- Fully remodeled freestanding office building
- Constructed in 1956
- Across from TFCU
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,097
Cap Rate
6.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$361,940
$361.9K
Cap Rate 7%
$258,529
$258.5K
Cap Rate 9%
$201,078
$201.1K
Market Conditions
NOI Build-Up for 1,272 SF
Gross rent
$31.7K $24.96/SF
− Vacancy
−$7.6K −$5.99/SF
EGI
$24.1K $18.97/SF
− OpEx
−$6.0K −$4.74/SF
NOI
$18.1K $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 Rate 5%
$361,940
Cap Rate 7%
$258,529
Cap Rate 9%
$201,078
Alternative Uses
Best Use
Office B
$258.5K
$226.2K – $301.6K
NOI $18,097 @ 7.0% cap · market cap 6.13%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$435.0K
$380.7K – $507.5K
NOI $30,452 @ 7.0% cap · market cap 10.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
483
Businesses Nearby
Explore this area
Business Placement
Demographics for 73111, OK
11,451
Population
5,670
Households
2
Avg Household Size
42
Median Age
19%
College-Educated
86%
High-School Grad
8.6 sq mi
ZIP Area
1,332
Density / Sq Mi
$39,739
Median Household Income
$30,159
Median Earnings
$941
Median Rent
$109,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Updated standalone office property positioned across from TFCU and near Oklahoma City’s Capitol and downtown areas.
Where is this office building located?
The property is located at 1216 NE 23rd Street Oklahoma City, OK.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Fully remodeled freestanding office building; Constructed in 1956; Across from TFCU
