Historic Three-Story Mixed-Use
For Sale
$2,750,000
15 E California Avenue, Oklahoma City, OK 73104
Canal frontage and an expansive upper-level balcony create a distinctive Bricktown setting for adaptive commercial use.
Property Size18,372 SF
Days on Market114
Property Features for 15 E California Avenue
General Information
Standard status
Active
Size
18,372 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$23,226
Building Details
Building Size
18,372 SF
Year Built
1906
Listing Agency:
Flotilla Real Estate Partners
Listed By:
Brandon Hart
(405) 948-7500
Source:
Stetsonbentley
Added: Jun 26
Changed: Oct 14
Last Checked: Oct 16 at 5:33PM
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 Flotilla Real Estate Partners
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Investment Insights
Based on property information with market context.
This historic mixed-use building contains 18,372 square feet across three stories and dates to 1906. The interior is currently configured as an empty shell, offering a blank canvas for redevelopment within an established commercial district. An expansive second-floor balcony overlooks the Bricktown Canal and the surrounding boardwalk area.
The property fronts the canal and is positioned near a pedestrian bridge and elevator at the corner of E. California and Oklahoma Ave. The site is within walking distance of Scissortail Park and Paycom Center, with more than a dozen hotels located throughout the district. The west-side parking lot is expected to remain in place indefinitely, while additional parking accommodations may be provided through future construction at the location.
The property fronts the canal and is positioned near a pedestrian bridge and elevator at the corner of E. California and Oklahoma Ave. The site is within walking distance of Scissortail Park and Paycom Center, with more than a dozen hotels located throughout the district. The west-side parking lot is expected to remain in place indefinitely, while additional parking accommodations may be provided through future construction at the location.
Key Highlights
- 18,372‑square‑foot historic building constructed in 1906
- Three‑story mixed‑use structure with an empty‑shell interior
- Frontage along the Bricktown Canal
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$247,625
Cap Rate
9.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,952,500
$5.0M
Cap Rate 7%
$3,537,500
$3.5M
Cap Rate 9%
$2,751,389
$2.8M
Market Conditions
NOI Build-Up for 18,372 SF
Gross rent
$396.8K $21.60/SF
− Vacancy
−$15.9K −$0.86/SF
EGI
$381.0K $20.74/SF
− OpEx
−$133.3K −$7.26/SF
NOI
$247.6K $13.48/SF
Area
Oklahoma City, OK
Vacancy
4.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,952,500
Cap Rate 7%
$3,537,500
Cap Rate 9%
$2,751,389
Alternative Uses
Best Use
Retail
$5.18M
$4.53M – $6.04M
NOI $362,663 @ 7.0% cap · market cap 13.19%
Second Best
Mixed Use
$3.62M
$3.17M – $4.23M
NOI $253,534 @ 7.0% cap · market cap 9.22%
Theoretical Best
Specialty Retail
$6.28M
$5.50M – $7.33M
NOI $439,826 @ 7.0% cap · market cap 15.99%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,267
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Canal frontage and an expansive upper-level balcony create a distinctive Bricktown setting for adaptive commercial use.
Where is this mixed-use property located?
The property is located at 15 E California Avenue Oklahoma City, OK.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: 18,372‑square‑foot historic building constructed in 1906; Three‑story mixed‑use structure with an empty‑shell interior; Frontage along the Bricktown Canal
