Office Unit With Reception
For Sale
$385,000
1530 89th Street, Oklahoma City, OK 73159
Move-in-ready office configuration includes private offices, a conference room, kitchenette, storage, and two bathrooms.
Property Size2,235 SF
Price / SF$172.26
Days on Market56
Property Features for 1530 89th Street
General Information
Standard status
Active
Size
2,235 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$5,277
Amenities
3
Concrete Driveway.
Building Details
Year Built
1986
Listing Agency:
Prime Realty Inc.
(405) 213-7839
Listed By:
Kathy Griffith
(405) 213-7839
Source:
Xome
Added: Jun 28
Changed: Aug 22
Last Checked: Aug 22 at 4:13AM
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 Prime Realty Inc.
Investment Insights
Based on property information with market context.
This 2,235-square-foot office unit, built in 1986, combines a polished reception area with a practical multi-room layout. The space includes 3–4 private offices, an executive office, conference room, file and storage room, and a flexible galley workspace. Slate tile, natural light, woodwork, crown molding, and built-in granite desks add finished interior detail. A kitchenette provides a double sink, refrigerator, microwave, cabinetry, snack bar, and lunch bar. The unit also has two bathrooms, including one accessible restroom, along with a camera security system and phone system.
The property is located at 1530 89th Street in Oklahoma City, near the Amazon Fulfillment Center, FAA, Will Rogers World Airport, V-PAR, Bricktown/Downtown Oklahoma City, the Tri-City area, and Norman/University of Oklahoma. Concrete driveway access serves the property. Reserved items include freestanding furniture, file cabinets, and wall art.
The property is located at 1530 89th Street in Oklahoma City, near the Amazon Fulfillment Center, FAA, Will Rogers World Airport, V-PAR, Bricktown/Downtown Oklahoma City, the Tri-City area, and Norman/University of Oklahoma. Concrete driveway access serves the property. Reserved items include freestanding furniture, file cabinets, and wall art.
Key Highlights
- 2,235 SF office unit at 1530 89th Street, Oklahoma City, OK 73159
- 3–4 private offices plus executive office and conference room
- Kitchenette includes refrigerator, microwave, double sink, cabinetry, snack bar, and lunch bar
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
$27,517
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
7.15%
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%
$550,340
$550.3K
Cap Rate 7%
$393,100
$393.1K
Cap Rate 9%
$305,744
$305.7K
Market Conditions
NOI Build-Up for 2,235 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
$48.3K $21.60/SF
− Vacancy
−$11.6K −$5.18/SF
EGI
$36.7K $16.42/SF
− OpEx
−$9.2K −$4.10/SF
NOI
$27.5K $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 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%
$550,340
Cap Rate 7%
$393,100
Cap Rate 9%
$305,744
Alternative Uses
Best Use
Office B
$393.1K
$344.0K – $458.6K
NOI $27,517 @ 7.0% cap · market cap 7.15%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$660.9K
$578.3K – $771.1K
NOI $46,265 @ 7.0% cap · market cap 12.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Move-in-ready office configuration includes private offices, a conference room, kitchenette, storage, and two bathrooms.
Where is this office units located?
The property is located at 1530 89th Street Oklahoma City, OK.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: 2,235 SF office unit at 1530 89th Street, Oklahoma City, OK 73159; 3–4 private offices plus executive office and conference room; Kitchenette includes refrigerator, microwave, double sink, cabinetry, snack bar, and lunch bar
