Mixed-Use Property with Two
For Sale
$499,000
14330 SE 29th St, Choctaw, OK 73020
Two-building property combines office space with an ADA-accessible residential area and a multifamily building requiring restoration.
Property Size6,704 SF
Price / SF$74.43
Days on Market21
Property Features for 14330 SE 29th St
General Information
Standard status
Active
Size
6,704 SF
Property Condition
Severity
Repairs Needed
Evidence
needs work to restore
Building Details
Year Built
1986
Buildings
2
Listing Agency:
RE/MAX Gemini
(405) 737-9039
Listed By:
Jim McWhirter · License #120733
Source:
Kathleenforrest
Added: Aug 9
Changed: Aug 29
Last Checked: Aug 29 at 10:33AM
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 mixed-use offering includes two buildings totaling approximately 6,704 square feet. The first building measures approximately 2,544 square feet and contains office space alongside an ADA-accessible living area, with additional rooms configured for offices or bedrooms. Built in 1986, the property combines administrative and residential components within the same offering.
The second building contains approximately 4,160 square feet and was originally configured as a fourplex with eight bedrooms and six bathrooms. The building requires work to restore its prior configuration, while its existing layout provides a defined starting point for redevelopment or renovation. The property is located at 14330 SE 29th St in Choctaw, Oklahoma, adjacent to 14300 SE 29th St, which is also offered for sale.
The second building contains approximately 4,160 square feet and was originally configured as a fourplex with eight bedrooms and six bathrooms. The building requires work to restore its prior configuration, while its existing layout provides a defined starting point for redevelopment or renovation. The property is located at 14330 SE 29th St in Choctaw, Oklahoma, adjacent to 14300 SE 29th St, which is also offered for sale.
Key Highlights
- Two buildings totaling approximately 6,704 square feet
- Building 1 includes approximately 2,544 square feet of office and ADA‑accessible living space
- Building 2 contains approximately 4,160 square feet
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
Mixed Use
$865.9K
$757.7K – $1.01M
NOI $60,615 @ 7.0% cap · market cap 12.15%
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-building property combines office space with an ADA-accessible residential area and a multifamily building requiring restoration.
Where is this mixed-use property located?
The property is located at 14330 SE 29th St 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 buildings totaling approximately 6,704 square feet; Building 1 includes approximately 2,544 square feet of office and ADA‑accessible living space; Building 2 contains approximately 4,160 square feet
