Building Details

Building Size 2,340 SF

Year Built 1983

Buildings 1

Stories 1

Units 1

Listing Agency: Brick and Beam Realty p***@brickandbeamre.com Show Phone

Listed By: Chris Johnson · License #200452 Show Phone

Source: Carlallsrealestate

Added: Jul 15 Changed: Oct 23 Last Checked: Oct 23 at 3:18PM

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Investment Insights

Based on property information with market context.

This 2,340-square-foot office building, constructed in 1983, includes six private offices and a conference room. The interior also provides a reception area and lobby, kitchen and breakroom, five restrooms, two storage closets, and a separate utility room. The layout accommodates professional, medical, or administrative operations.

Situated on SW 89th Street in Oklahoma City, the property offers access to Interstate 44. Nearby destinations include Walmart, Oklahoma City Community College, and other retail and dining options.

Key Highlights

• 2,340‑square‑foot office building built in 1983
• Six private offices and a conference room
• Reception area with lobby, kitchen/breakroom, five restrooms, two storage closets, and a utility room

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$28,810

Suggested Prices Based on Cap Rates

Cap Rate 5%

$576,200 $576.2K

Cap Rate 7%

$411,571 $411.6K

Cap Rate 9%

$320,111 $320.1K

What to ask about pricing

Market Conditions

NOI Build-Up for 2,340 SF

Gross rent

$50.5K $21.60/SF

− Vacancy

−$12.1K −$5.18/SF

EGI

$38.4K $16.42/SF

− OpEx

−$9.6K −$4.10/SF

NOI

$28.8K $12.31/SF

Area

ZIP 73159

Vacancy

24.00%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$576,200

Cap Rate 7%

$411,571

Cap Rate 9%

$320,111

Alternative Uses

Best Use

Office B

$411.6K

$360.1K – $480.2K (±1% cap)

NOI $28,810 @ 7.0% cap · market cap 984.96%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$692.0K

$605.5K – $807.3K (±1% cap)

NOI $48,438 @ 7.0% cap · market cap 1,656.00%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Jordan Tingey Dental Office V31 Academy of Knowledge ... Medical Clinic Jordan Leroy Tingey Dental Office Gerryson Neon (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Auto Parts Store Auto Repair Shop Parking Lot & Garage HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

607

Businesses Nearby

Explore this area Business Placement

Demographics for 73159, OK

32,981

Population

13,618

Households

2.4

Avg Household Size

33

Median Age

17%

College-Educated

85%

High-School Grad

13.7 sq mi

ZIP Area

2,407

Density / Sq Mi

$56,369

Median Household Income

$36,125

Median Earnings

$1,119

Median Rent

$144,200

Median Home Value

Market

Vacancy Rate% for Office in Oklahoma City, OK

10.8% 2023

26.5% 2024

29.6% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Reception space, a breakroom, and private offices support a range of workplace functions.

Where is this office building located?

The property is located at 1512 SW 89th Street Oklahoma City, OK.

What are key features of this property?

This property features: 2,340‑square‑foot office building built in 1983; Six private offices and a conference room; Reception area with lobby, kitchen/breakroom, five restrooms, two storage closets, and a utility room