Building Details

Year built 2005

Floors in Building 2

Listing Agency: Keller Williams-Green Meadow/Summit · Keller Williams Realty k***@kw.com Show Phone

Listed By: Grant Hawkins Show Phone

Added: Jun 4 Changed: Oct 17 Last Checked: Oct 19 at 11:06PM

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MLS# 1232858

Copyright © 2026 MLSOK, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Investment Insights

Based on property information with market context.

This office building contains 9,122 square feet and was constructed in 2005. The property received updates in April 2026 and is equipped with central air and electric cooling, along with natural-gas heating. Commercial zoning supports its established office use.

The building is leased to a national tenant under a long-term lease. It is located at 1624 SW 122nd Street in Oklahoma City, Oklahoma 73170, within Cleveland County. The property may also be acquired together with 1630-1634 SW 122nd.

Key Highlights

• 9,122‑square‑foot office building constructed in 2005
• Updates completed in April 2026
• Leased to a national tenant under a long‑term lease

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$112,310

Cap Rate

6.91%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,246,200 $2.2M

Cap Rate 7%

$1,604,429 $1.6M

Cap Rate 9%

$1,247,889 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 9,122 SF

Gross rent

$197.0K $21.60/SF

− Vacancy

−$47.3K −$5.18/SF

EGI

$149.7K $16.42/SF

− OpEx

−$37.4K −$4.10/SF

NOI

$112.3K $12.31/SF

Area

ZIP 73170

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%

$2,246,200

Cap Rate 7%

$1,604,429

Cap Rate 9%

$1,247,889

Alternative Uses

Best Use

Office B

$1.60M

$1.40M – $1.87M (±1% cap)

NOI $112,310 @ 7.0% cap · market cap 6.91%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$3.71M

$3.25M – $4.33M (±1% cap)

NOI $259,717 @ 7.0% cap · market cap 15.98%

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

Property Analytics

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Open Analytics

Current Use

Frank Wesnidge, Keller ... Real Estate Agency LaKesha Anglin, Real ... Real Estate Agency Mory Richardson Real ... Real Estate Agency Martha Avens, REALTOR ... Real Estate Agency Andrew French Realtor ... Real Estate Agency

Suggested Use

Top Pick Law Firm Restaurant Spa & Massage Center Hair Salon Building Supply Parking Lot & Garage

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

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

238

Businesses Nearby

Explore this area Business Placement

Demographics for 73170, OK

41,343

Population

16,658

Households

2.5

Avg Household Size

40

Median Age

37%

College-Educated

94%

High-School Grad

21.0 sq mi

ZIP Area

1,969

Density / Sq Mi

$92,403

Median Household Income

$44,653

Median Earnings

$1,525

Median Rent

$249,800

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 - Commercially zoned office property with central air, electric cooling, and natural-gas heating.

Where is this office building located?

The property is located at 1624 SW 122nd Street Oklahoma City, OK.

What is the asking price?

The asking price for this property is $1,625,000.

What are key features of this property?

This property features: 9,122‑square‑foot office building constructed in 2005; Updates completed in April 2026; Leased to a national tenant under a long‑term lease