Flex Building with Office and
For Sale
$999,000
14300 SE 29th Street, Choctaw, OK 73020
Large flex building includes multiple office spaces plus over 5,000 square feet of storage and a 34-by-40 garage area.
Property Size4,208 SF
Lot Size1.18 Acres
Price / SF$237.40
Days on Market159
Property Features for 14300 SE 29th Street
General Information
Standard status
Active
Size
4,208 SF
Lot size
1.18 Acres
Property subtype
Commercial
Zoning
Commercial
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,529
Building Details
Building Size
4,208 SF
Year Built
1984
Listing Agency:
RE/MAX Gemini
(405) 605-7355
Listed By:
Jim McWhirter · License #120733
(405) 605-7355
Source:
Capitalrealestateok
Added: Mar 18
Changed: Aug 23
Last Checked: Aug 22 at 9:27AM
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.
This large flex building offers multiple office spaces along with substantial storage. In addition to the main building area of 4,208 square feet, the property includes a storage area of over 5,000 square feet and a dedicated 34-by-40 garage space.
The property is situated on 1.18 acres and features a large parking area designed to provide flexibility for a new owner. Convenient access is noted near I-40 and the I-335 turnpike, supporting travel to Oklahoma City or Shawnee.
With its combination of office space, storage, and garage capacity, the building is well suited for users seeking a single property that can support both administrative and operational needs.
The property is situated on 1.18 acres and features a large parking area designed to provide flexibility for a new owner. Convenient access is noted near I-40 and the I-335 turnpike, supporting travel to Oklahoma City or Shawnee.
With its combination of office space, storage, and garage capacity, the building is well suited for users seeking a single property that can support both administrative and operational needs.
Key Highlights
- Large flex building with multiple office spaces, totaling 4,208 sq ft
- Over 5,000 sq ft storage area plus a 34‑by‑40 garage space
- Sits on 1.18 acres with a large parking area for flexible use
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
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
61
Businesses Nearby
Balanced
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Large flex building includes multiple office spaces plus over 5,000 square feet of storage and a 34-by-40 garage area.
Where is this flex space located?
The property is located at 14300 SE 29th Street 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: Large flex building with multiple office spaces, totaling 4,208 sq ft; Over 5,000 sq ft storage area plus a 34‑by‑40 garage space; Sits on 1.18 acres with a large parking area for flexible use
