Multi-Suite Office
For Sale
$999,000
14300 SE 29th St, Choctaw, OK 73020
Office property with dedicated storage and garage areas.
Property Size4,208 SF
Price / SF$237.40
Days on Market18
Property Features for 14300 SE 29th St
General Information
Standard status
Active
Size
4,208 SF
Building Details
Year Built
1984
Listing Agency:
RE/MAX Gemini
(405) 737-9039
Listed By:
Jim McWhirter · License #120733
Source:
Kathleenforrest
Added: Aug 12
Changed: Aug 29
Last Checked: Aug 29 at 9:09AM
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 RE/MAX Gemini
Investment Insights
Based on property information with market context.
Built in 1984, this office building contains multiple office spaces totaling 4,208 square feet. Separate storage space exceeding 5,000 square feet and a 34x40-foot garage add substantial utility for operations requiring both administrative and support areas. The property occupies 1.18 acres and includes a large parking area.
The site is near I-40 and the I-335 turnpike, providing access toward Oklahoma City and Shawnee. Its combination of office, storage, garage, and parking improvements supports a range of commercial configurations while keeping the primary use centered on office space.
The site is near I-40 and the I-335 turnpike, providing access toward Oklahoma City and Shawnee. Its combination of office, storage, garage, and parking improvements supports a range of commercial configurations while keeping the primary use centered on office space.
Key Highlights
- 4,208‑square‑foot office building with multiple office spaces
- Over 5,000 square feet of storage area
- 34x40‑foot garage space
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
$52,530
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
5.26%
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%
$1,050,600
$1.1M
Cap Rate 7%
$750,429
$750.4K
Cap Rate 9%
$583,667
$583.7K
Market Conditions
NOI Build-Up for 4,208 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
$85.3K $20.28/SF
− Vacancy
−$4.5K −$1.07/SF
EGI
$80.8K $19.21/SF
− OpEx
−$28.3K −$6.72/SF
NOI
$52.5K $12.48/SF
Area
Oklahoma County, OK
Vacancy
5.30%
Lease Rate
$20.28 /SF/Yr
Expense Ratio
35.00%
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%
$1,050,600
Cap Rate 7%
$750,429
Cap Rate 9%
$583,667
Alternative Uses
Best Use
Flex RnD
$750.4K
$656.6K – $875.5K
NOI $52,530 @ 7.0% cap · market cap 5.26%
Second Best
Office B
$679.8K
$594.9K – $793.1K
NOI $47,588 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$876.4K
$766.9K – $1.02M
NOI $61,351 @ 7.0% cap · market cap 6.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
61
Businesses Nearby
Explore this area
Business Placement
Demographics for 73020, OK
24,627
Population
9,857
Households
2.5
Avg Household Size
42
Median Age
33%
College-Educated
92%
High-School Grad
61.6 sq mi
ZIP Area
400
Density / Sq Mi
$99,108
Median Household Income
$54,688
Median Earnings
$1,363
Median Rent
$248,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office property with dedicated storage and garage areas.
Where is this office building located?
The property is located at 14300 SE 29th St Choctaw, OK.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 4,208‑square‑foot office building with multiple office spaces; Over 5,000 square feet of storage area; 34x40‑foot garage space
