Character Office
New
For Sale
$650,000
1400 NW 16th St, Oklahoma City, OK 73106
Updated professional workspace with private offices, reception, conference facilities, parking, and a detached garage.
Property Size2,046 SF
Lot Size0.32 Acres
Price / SF$317.69
Days on Market2
Property Features for 1400 NW 16th St
General Information
Standard status
Active
Size
2,046 SF
Lot size
0.32 Acres
Zoning
SPUD
Amenities
conference room
updated kitchen
detached garage
outdoor signage
Building Details
Year Built
1935
Buildings
2
Listing Agency:
Copper Creek Real Estate
(405) 473-2487
Listed By:
Jason Shirazi
Source:
Oklahomerealestate
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 31 at 7:40PM
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 Copper Creek Real Estate
Investment Insights
Based on property information with market context.
Built in 1935, this 2,046-square-foot office property combines period architectural details with a refreshed interior and practical two-level configuration. The main floor includes reception, a conference room, executive office with private bathroom and rear entry, kitchen, and an additional office or storage room. Four private offices and a full bathroom are located upstairs. Hardwood flooring, crown molding, arched openings, updated lighting, black interior doors, and a detailed staircase add character throughout.
The property at 1400 NW 16th St in Oklahoma City sits near the Plaza District. An approximately 69' x 200' lot provides rear off-street parking, new concrete walkways, and outdoor signage. The detached garage contributes approximately 414 square feet and includes a concrete floor, overhead door with opener, and separate entry door. SPUD zoning permits administrative and professional offices, live/work, restricted mixed use for administrative office, and single-family or two-family residential use.
The property at 1400 NW 16th St in Oklahoma City sits near the Plaza District. An approximately 69' x 200' lot provides rear off-street parking, new concrete walkways, and outdoor signage. The detached garage contributes approximately 414 square feet and includes a concrete floor, overhead door with opener, and separate entry door. SPUD zoning permits administrative and professional offices, live/work, restricted mixed use for administrative office, and single-family or two-family residential use.
Key Highlights
- 2,046 SF office property built in 1935
- Approximately 69' x 200' lot with rear off‑street parking
- Detached garage adds approximately 414 SF with overhead door and separate entry door
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
$29,109
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
4.48%
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%
$582,180
$582.2K
Cap Rate 7%
$415,843
$415.8K
Cap Rate 9%
$323,433
$323.4K
Market Conditions
NOI Build-Up for 2,046 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
$51.1K $24.96/SF
− Vacancy
−$12.3K −$5.99/SF
EGI
$38.8K $18.97/SF
− OpEx
−$9.7K −$4.74/SF
NOI
$29.1K $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 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%
$582,180
Cap Rate 7%
$415,843
Cap Rate 9%
$323,433
Alternative Uses
Best Use
Office B
$415.8K
$363.9K – $485.2K
NOI $29,109 @ 7.0% cap · market cap 4.48%
Second Best
Mixed Use
$403.4K
$352.9K – $470.6K
NOI $28,235 @ 7.0% cap · market cap 4.34%
Theoretical Best
Specialty Retail
$699.7K
$612.3K – $816.4K
NOI $48,981 @ 7.0% cap · market cap 7.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
157
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?
Office building - Updated professional workspace with private offices, reception, conference facilities, parking, and a detached garage.
Where is this office building located?
The property is located at 1400 NW 16th St Oklahoma City, OK.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 2,046 SF office property built in 1935; Approximately 69' x 200' lot with rear off‑street parking; Detached garage adds approximately 414 SF with overhead door and separate entry door
