Midtown Office
For Sale
$6,250,000
915 & 923 North Robinson Ave, Oklahoma City, OK 73102
Office buildings at 915 and 923 N Robinson Ave offer a for-sale opportunity in Midtown Oklahoma City.
Property Size28,310 SF
Days on Market115
Property Features for 915 & 923 North Robinson Ave
General Information
Standard status
Active
Size
28,310 SF
Class
B
Property subtype
Office
Building Details
Building Size
28,310 SF
Listing Agency:
Creek Price Edwards and Company - Oklahoma City
Listed By:
Craig Tucker
(405) 641-3218
Source:
Tcnworldwide
Added: May 14
Changed: Sep 1
Last Checked: Sep 4 at 4:00AM
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 and Company - Oklahoma City
Investment Insights
Based on property information with market context.
This offering includes office buildings located at 915 and 923 North Robinson Ave in Oklahoma City. The property is presented as a for-sale purchase opportunity for an owner/user.
The asset is positioned in Midtown, within the Oklahoma City area, providing a compact portfolio of office space across the two addresses.
Additional property details such as unit mix, size, and condition are not provided in the available information.
The asset is positioned in Midtown, within the Oklahoma City area, providing a compact portfolio of office space across the two addresses.
Additional property details such as unit mix, size, and condition are not provided in the available information.
Key Highlights
- Office buildings for sale at 915 N Robinson Ave and 923 N Robinson Ave in Midtown Oklahoma City
- Owner/user opportunity featuring two separate office properties listed together
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
$402,772
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
6.44%
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%
$8,055,440
$8.1M
Cap Rate 7%
$5,753,886
$5.8M
Cap Rate 9%
$4,475,244
$4.5M
Market Conditions
NOI Build-Up for 28,310 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
$706.6K $24.96/SF
− Vacancy
−$169.6K −$5.99/SF
EGI
$537.0K $18.97/SF
− OpEx
−$134.3K −$4.74/SF
NOI
$402.8K $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%
$8,055,440
Cap Rate 7%
$5,753,886
Cap Rate 9%
$4,475,244
Alternative Uses
Best Use
Office B
$5.75M
$5.03M – $6.71M
NOI $402,772 @ 7.0% cap · market cap 6.44%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$9.68M
$8.47M – $11.30M
NOI $677,741 @ 7.0% cap · market cap 10.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,828
Businesses Nearby
Explore this area
Business Placement
Demographics for 73102, OK
3,072
Population
1,460
Households
2.1
Avg Household Size
35
Median Age
27%
College-Educated
86%
High-School Grad
0.8 sq mi
ZIP Area
3,840
Density / Sq Mi
$67,542
Median Household Income
$37,067
Median Earnings
$1,253
Median Rent
$212,500
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?
Office building - Office buildings at 915 and 923 N Robinson Ave offer a for-sale opportunity in Midtown Oklahoma City.
Where is this office building located?
The property is located at 915 & 923 North Robinson Ave Oklahoma City, OK.
What is the asking price?
The asking price for this property is $6,250,000.
What are key features of this property?
This property features: Office buildings for sale at 915 N Robinson Ave and 923 N Robinson Ave in Midtown Oklahoma City; Owner/user opportunity featuring two separate office properties listed together
