Quadplex Property with Two
For Sale
$499,000
14330 SE 29th Street, Choctaw, OK 73020
Commercial-zoned property combining office space, an ADA-accessible living area, and a second building with restoration needs.
Property Size6,704 SF
Price / SF$74.43
Days on Market157
Property Features for 14330 SE 29th Street
General Information
Standard status
Active
Size
6,704 SF
Property subtype
Commercial
Zoning
Commercial
Property Condition
Severity
Minor
Evidence
needs work to restore
Building Details
Building Size
6,704 SF
Year Built
1986
Buildings
2
Units
2
Listing Agency:
RE/MAX Gemini
(405) 605-7355
Listed By:
Jim McWhirter · License #120733
(405) 605-7355
Source:
Jarmanrealtyok
Added: Mar 18
Changed: Aug 20
Last Checked: Aug 20 at 2:00PM
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 commercial-zoned property includes two buildings totaling approximately 6,704 square feet. Building 1 contains an office, an ADA-accessible living area, and additional rooms that can function as offices or bedrooms. Building 2 measures approximately 4,160 square feet and was originally configured as a fourplex with 8 bedrooms and 6 bathrooms; the building requires work to restore its prior configuration and offers multiple possible layouts.
Built in 1986, the property is located at 14330 SE 29th Street in Choctaw, Oklahoma, next to 14300 SE 29th Street, which is also offered for sale.
Built in 1986, the property is located at 14330 SE 29th Street in Choctaw, Oklahoma, next to 14300 SE 29th Street, which is also offered for sale.
Key Highlights
- Two‑building property totaling approximately 6,704 square feet
- Building 1 includes an office and ADA‑accessible living area
- Additional rooms in Building 1 may serve as offices or bedrooms
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
$42,657
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
8.55%
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%
$853,140
$853.1K
Cap Rate 7%
$609,386
$609.4K
Cap Rate 9%
$473,967
$474.0K
Market Conditions
NOI Build-Up for 6,704 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
$86.1K $12.84/SF
− Vacancy
−$8.5K −$1.27/SF
EGI
$77.6K $11.57/SF
− OpEx
−$34.9K −$5.21/SF
NOI
$42.7K $6.36/SF
Area
Oklahoma County, OK
Vacancy
9.90%
Lease Rate
$12.84 /SF/Yr
Expense Ratio
45.00%
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%
$853,140
Cap Rate 7%
$609,386
Cap Rate 9%
$473,967
Alternative Uses
Best Use
Office B
$1.08M
$947.7K – $1.26M
NOI $75,816 @ 7.0% cap · market cap 15.19%
Second Best
Apartment 5plus
$609.4K
$533.2K – $711.0K
NOI $42,657 @ 7.0% cap · market cap 8.55%
Theoretical Best
Office A
$1.40M
$1.22M – $1.63M
NOI $97,742 @ 7.0% cap · market cap 19.59%
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Commercial-zoned property combining office space, an ADA-accessible living area, and a second building with restoration needs.
Where is this quadplex located?
The property is located at 14330 SE 29th Street Choctaw, OK.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Two‑building property totaling approximately 6,704 square feet; Building 1 includes an office and ADA‑accessible living area; Additional rooms in Building 1 may serve as offices or bedrooms
