Leased Office Building with Two
For Sale
$1,250,000
1630 SW 122nd Street, Oklahoma City, OK 73170
Commercial Sale, Oklahoma City, OK
Property Size6,340 SF
Price / SF$197.16
Days on Market94
Property Features for 1630 SW 122nd Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Commercial
Directions
From S. Penn and SW 122nd east to property
Standard status
Active
APN
1630SW122nd73170
Size
6,340 SF
Utilities
Heating system
Natural Gas
Cooling system
Central Air, Electric
Building Details
Year built
2005
Floors in Building
1
Listing Agency:
Keller Williams-Green Meadow/Summit · Keller Williams Realty
(405) 691-2556
Listed By:
Grant Hawkins · License #71137
(405) 924-6191
Added: Jun 4
Changed: Sep 2
Last Checked: Sep 5 at 3:06AM
MLS# 1232847
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.
Investment Insights
Based on property information with market context.
The 6340-square-foot office building at 1630 SW 122nd Street includes an established occupancy profile with two tenants in place. Constructed in 2005, the property is fully leased and classified for Commercial use.
Building systems include natural gas heating along with central air and electric cooling. The property may also be acquired with 1624 SW 122nd, providing a potential package purchase option for an interested buyer.
Building systems include natural gas heating along with central air and electric cooling. The property may also be acquired with 1624 SW 122nd, providing a potential package purchase option for an interested buyer.
Key Highlights
- 6340‑square‑foot office building constructed in 2005
- Fully leased to 2 tenants
- Commercial zoning
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
$78,058
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
6.24%
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%
$1,561,160
$1.6M
Cap Rate 7%
$1,115,114
$1.1M
Cap Rate 9%
$867,311
$867.3K
Market Conditions
NOI Build-Up for 6,340 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
$136.9K $21.60/SF
− Vacancy
−$32.9K −$5.18/SF
EGI
$104.1K $16.42/SF
− OpEx
−$26.0K −$4.10/SF
NOI
$78.1K $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 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%
$1,561,160
Cap Rate 7%
$1,115,114
Cap Rate 9%
$867,311
Alternative Uses
Best Use
Office B
$1.12M
$975.7K – $1.30M
NOI $78,058 @ 7.0% cap · market cap 6.24%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.58M
$2.26M – $3.01M
NOI $180,509 @ 7.0% cap · market cap 14.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
292
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Commercially zoned office building with two existing tenants and central air conditioning.
Where is this office building located?
The property is located at 1630 SW 122nd Street Oklahoma City, OK.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 6340‑square‑foot office building constructed in 2005; Fully leased to 2 tenants; Commercial zoning
