Remodeled Freestanding Office
For Sale
$295,000
1216 NE 23rd Street, Oklahoma City, OK 73111
Commercial Sale, Oklahoma City, OK
Property Size1,272 SF
Lot Size0.14 Acres
Price / SF$231.92
Days on Market51
Property Features for 1216 NE 23rd Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Commercial
Directions
From I-35N, take 62 east onto NE Grand blvd, then make a left onto NE 23rd street, come down 1.5 miles. Property sits on the left side of the street, just across from Tinker Federal CU.
Standard status
Active
APN
1216NE23rd73111
Size
1,272 SF
Lot size
0.14 Acres
Utilities
Heating system
Electric (Heating)
Cooling system
Electric
Water source
Public
Building Details
Year built
1956
Floors in Building
1
Building materials
Brick
Listing Agency:
Ariston Realty LLC
(405) 802-1174
Listed By:
Roshonda Wilson
(405) 503-8333
Added: Aug 18
Changed: Aug 31
Last Checked: Oct 7 at 7:06PM
MLS# 1241805
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 freestanding office building contains 1,272 square feet on a 0.1377-acre lot. The property was built in 1956 and has been fully remodeled, with brick construction, electric heating, electric cooling, and public water service. Commercial zoning supports its office classification.
The property is located at 1216 NE 23rd Street in Oklahoma City, across from TFCU and near the state Capitol, the Governor’s mansion, downtown, and major highways. Its standalone configuration and updated condition provide a straightforward setting for office operations.
The property is located at 1216 NE 23rd Street in Oklahoma City, across from TFCU and near the state Capitol, the Governor’s mansion, downtown, and major highways. Its standalone configuration and updated condition provide a straightforward setting for office operations.
Key Highlights
- 1,272‑square‑foot freestanding office building
- 0.1377‑acre lot with Commercial zoning
- Fully remodeled interior
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
403
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 - Brick construction with electric heating, cooling, and public water service.
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: 1,272‑square‑foot freestanding office building; 0.1377‑acre lot with Commercial zoning; Fully remodeled interior
