Historic Office
For Sale
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204 N Robinson Ave, Oklahoma City, OK 73102
Historic office building with upper-floor amenities including 24-hour security and dedicated elevator services.
Property Size12,116 SF
Price / SF$177.01
Days on Market1331
Property Features for 204 N Robinson Ave
General Information
Standard status
Active
Size
12,116 SF
Property subtype
OFFICE
Amenities
24-hour security
vaulted storage areas
dedicated elevator services
Building Details
Year Built
1931
Construction
art deco
Listing Agency:
Newmark Robinson Park | Oklahoma City
(405) 840-1500
Listed By:
Brent Conway
(405) 208-8636
Source:
Moodyscre
Added: Jan 24, 2023
Changed: Sep 4
Last Checked: Sep 15 at 7:48AM
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 Newmark Robinson Park | Oklahoma City
Investment Insights
Based on property information with market context.
City Place is a historic office building formerly known as Ramsey Tower, downtown Oklahoma City’s first skyscraper, completed in 1931 with an art deco-inspired style. The property has been restored and is presented as a prominent downtown address.
Located at 204 N Robinson Ave in Oklahoma City, City Place offers upper-floor amenities and service features described in the property materials, including 24-hour security, vaulted storage areas, and dedicated elevator services. Suitable for office users seeking space within a landmark office building.
Located at 204 N Robinson Ave in Oklahoma City, City Place offers upper-floor amenities and service features described in the property materials, including 24-hour security, vaulted storage areas, and dedicated elevator services. Suitable for office users seeking space within a landmark office building.
Key Highlights
- Historic downtown Oklahoma City office building, formerly known as Ramsey Tower
- Completed in 1931 and originally recognized for modernity and art deco‑inspired style
- Upper‑floor amenities include 24‑hour security
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
$172,377
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
8.04%
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%
$3,447,540
$3.4M
Cap Rate 7%
$2,462,529
$2.5M
Cap Rate 9%
$1,915,300
$1.9M
Market Conditions
NOI Build-Up for 12,116 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
$302.4K $24.96/SF
− Vacancy
−$72.6K −$5.99/SF
EGI
$229.8K $18.97/SF
− OpEx
−$57.5K −$4.74/SF
NOI
$172.4K $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%
$3,447,540
Cap Rate 7%
$2,462,529
Cap Rate 9%
$1,915,300
Alternative Uses
Best Use
Office B
$2.46M
$2.15M – $2.87M
NOI $172,377 @ 7.0% cap · market cap 8.04%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.14M
$3.63M – $4.83M
NOI $290,057 @ 7.0% cap · market cap 13.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
4,039
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
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Market
Vacancy Rate% for Office in Oklahoma City, OK
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Frequently Asked Questions
What type of property is this?
Office building - Historic office building with upper-floor amenities including 24-hour security and dedicated elevator services.
Where is this office building located?
The property is located at 204 N Robinson Ave Oklahoma City, OK.
What is the asking price?
The asking price for this property is $2,144,600.
What are key features of this property?
This property features: Historic downtown Oklahoma City office building, formerly known as Ramsey Tower; Completed in 1931 and originally recognized for modernity and art deco‑inspired style; Upper‑floor amenities include 24‑hour security
