Two-Story Office
New
For Sale
$650,000
1400 NW 16th Street, Oklahoma City, OK 73106
Commercial Sale, Oklahoma City, OK
Property Size2,046 SF
Lot Size0.32 Acres
Price / SF$317.69
Days on Market2
Property Features for 1400 NW 16th Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
PUD
Directions
On 16th (south side of road) between Penn and Blackwelder.
Standard status
Active
APN
1400NW16th73106
Size
2,046 SF
Lot size
0.32 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
conference room
kitchen
outdoor signage
Building Details
Year built
1935
Floors in Building
2
Listing Agency:
Copper Creek Real Estate
(405) 888-9902
Listed By:
Jason Shirazi
(405) 473-2487
Added: Aug 25
Last Checked: Aug 26 at 7:06AM
MLS# 1245436
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 two-level office property contains 2,046 square feet and retains architectural details from its 1935 construction, including hardwood flooring, crown molding, arched openings, and a detailed stairway. The main floor includes a reception area, conference room, executive office with a private bathroom and rear entrance, kitchen, and an additional room suited to office or storage use. Four private offices and a full bathroom are located upstairs.
The property sits on an approximately 69' x 200' lot along NW 16th Street near the Plaza District in Oklahoma City. The rear portion provides off-street parking, while new concrete walkways and exterior signage support the commercial setting. A detached garage adds approximately 414 square feet and includes a concrete floor, overhead door with opener, and separate entry door. Public water and public sewer serve the property.
The property sits on an approximately 69' x 200' lot along NW 16th Street near the Plaza District in Oklahoma City. The rear portion provides off-street parking, while new concrete walkways and exterior signage support the commercial setting. A detached garage adds approximately 414 square feet and includes a concrete floor, overhead door with opener, and separate entry door. Public water and public sewer serve the property.
Key Highlights
- 2,046‑square‑foot office property on an approximately 69' x 200' lot
- Built in 1935 with hardwood floors, crown molding, arched openings, and detailed interior trim
- Main level includes reception, conference room, executive office, kitchen, and additional office or storage room
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
—
—
no second resolved use
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
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,328
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 interiors, multiple private offices, rear parking, and a detached garage support flexible business operations.
Where is this office building located?
The property is located at 1400 NW 16th Street 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‑square‑foot office property on an approximately 69' x 200' lot; Built in 1935 with hardwood floors, crown molding, arched openings, and detailed interior trim; Main level includes reception, conference room, executive office, kitchen, and additional office or storage room
