Renovated Historic Office
New
For Sale
$3,550,000
141 Northeast 13th Street, Oklahoma City, OK 73104
Two-story office property with full occupancy, recent renovations, and on-site surface parking.
Property Size9,423 SF
Price / SF$376.74
Days on Market2
Property Features for 141 Northeast 13th Street
General Information
Standard status
Active
Size
9,423 SF
Net Rentable
9,423 SF
Class
Class A
Property subtype
Office
Occupancy
100%
Building Details
Buildings
1
Stories
2
Parking Ratio
4 per 1,000 SF
Listing Agency:
CBRE | Oklahoma City
(405) 607-6021
Listed By:
Amy Dunn, CCIM · License #079148
(405) 607-6021
Source:
Cbre
Added: Aug 10
Changed: Aug 11
Last Checked: Aug 11 at 6:50AM
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 CBRE | Oklahoma City
Investment Insights
Based on property information with market context.
The property contains 9,423 SF of rentable office area within a two-story building that has undergone recent renovations. The improvements retain the character associated with its historical adaptation while supporting a fully leased office asset.
Located at 141 Northeast 13th Street in Oklahoma City, the building includes on-site surface parking with a stated ratio of 4:1,000 SF. The current occupancy is 100%, providing an established office configuration for an owner or investor seeking a leased commercial property.
Located at 141 Northeast 13th Street in Oklahoma City, the building includes on-site surface parking with a stated ratio of 4:1,000 SF. The current occupancy is 100%, providing an established office configuration for an owner or investor seeking a leased commercial property.
Key Highlights
- 9,423 SF of rentable office area
- Two‑story office building with recent renovations
- 100% leased occupancy
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
$134,063
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
3.78%
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%
$2,681,260
$2.7M
Cap Rate 7%
$1,915,186
$1.9M
Cap Rate 9%
$1,489,589
$1.5M
Market Conditions
NOI Build-Up for 9,423 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
$235.2K $24.96/SF
− Vacancy
−$56.4K −$5.99/SF
EGI
$178.8K $18.97/SF
− OpEx
−$44.7K −$4.74/SF
NOI
$134.1K $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%
$2,681,260
Cap Rate 7%
$1,915,186
Cap Rate 9%
$1,489,589
Alternative Uses
Best Use
Office B
$1.92M
$1.68M – $2.23M
NOI $134,063 @ 7.0% cap · market cap 3.78%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.22M
$2.82M – $3.76M
NOI $225,587 @ 7.0% cap · market cap 6.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
4,292
Businesses Nearby
Explore this area
Business Placement
Demographics for 73104, OK
3,545
Population
2,405
Households
1.5
Avg Household Size
29
Median Age
75%
College-Educated
97%
High-School Grad
1.6 sq mi
ZIP Area
2,216
Density / Sq Mi
$69,886
Median Household Income
$59,023
Median Earnings
$1,536
Median Rent
$341,300
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 - Two-story office property with full occupancy, recent renovations, and on-site surface parking.
Where is this office building located?
The property is located at 141 Northeast 13th Street Oklahoma City, OK.
What is the asking price?
The asking price for this property is $3,550,000.
What are key features of this property?
This property features: 9,423 SF of rentable office area; Two‑story office building with recent renovations; 100% leased occupancy
