Small Office Building with
16446 NE 23rd Street Choctaw, OK 73020
For Sale
$225,000
Single building offers three office areas, kitchen, and parking for at least 10 cars, plus patio and storage.
Days on Market383
Property Features for 16446 NE 23rd Street
General Information
Standard status
Active
Property subtype
Commercial
Building Details
Year Built
1962
Listing Agency:
Century 21 First Choice Realty
(405) 623-8976
Listed By:
Jeff Scott · License #110117
(405) 623-8976
Source:
Capitalrealestateok
Added: Jul 12, 2025
Changed: Jul 28
Last Checked: Jul 29 at 1:03PM
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 Century 21 First Choice Realty
Investment Insights
Based on property information with market context.
This small office building includes three separate office areas, a fully functional kitchen, and a 17x13 foyer. The layout also features a full bath and a half bath, along with lots of storage areas for keeping paperwork and equipment out of sight. Office room sizes are 11x22, 12x14, and 13x14, supporting multiple workspaces within one property.
The building is located on NE 23rd Street and is less than 3 miles from the intersection of NE 23rd and the Kickapoo Turnpike, providing convenient access for clients and staff. A gravel front parking lot accommodates at least 10 cars. There is also a small back patio and yard.
With Harrah and Choctaw within a couple minutes either direction, nearby dining, shopping, and entertainment options are available. The property is structured to support a range of small-office configurations, including professional office use or other small business uses that fit the existing interior layout.
The building is located on NE 23rd Street and is less than 3 miles from the intersection of NE 23rd and the Kickapoo Turnpike, providing convenient access for clients and staff. A gravel front parking lot accommodates at least 10 cars. There is also a small back patio and yard.
With Harrah and Choctaw within a couple minutes either direction, nearby dining, shopping, and entertainment options are available. The property is structured to support a range of small-office configurations, including professional office use or other small business uses that fit the existing interior layout.
Key Highlights
- 1962‑built office building on NE 23rd St with 3 office areas plus a fully functional kitchen
- Office sizes include 11x22, 12x14, and 13x14, plus a 17x13 foyer
- Includes a full bath and a half bath
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $25.7k | $16.68 |
| − Vacancy | −$2.5k | −$1.60 |
| EGI | $23.3k | $15.08 |
| − OpEx | −$5.8k | −$3.77 |
| NOI | $17.4k | $11.31 |
1,543 SF · lease $16.68/SF/yr · vacancy 9.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$249.3K
$218.1K – $290.8K
NOI $17,450 @ 7.0% cap · market cap 7.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$321.4K
$281.2K – $374.9K
NOI $22,496 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Single building offers three office areas, kitchen, and parking for at least 10 cars, plus patio and storage.
Where is this office building located?
The property is located at 16446 NE 23rd Street Choctaw, OK.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 1962‑built office building on NE 23rd St with 3 office areas plus a fully functional kitchen; Office sizes include 11x22, 12x14, and 13x14, plus a 17x13 foyer; Includes a full bath and a half bath
