Commercial Office Building with
For Sale
$275,000
16758 Ne 23rd St, Choctaw, OK 73020
Three-office layout includes support areas and a reception space.
Property Size1,792 SF
Price / SF$153.46
Days on Market142
Property Features for 16758 Ne 23rd St
General Information
Standard status
Active
Size
1,792 SF
Listing Agency:
Community Real Estate
Listed By:
Lecye Doolen
(405) 664-4007
Source:
Exprealty
Added: May 29
Changed: Oct 9
Last Checked: Oct 16 at 12:27PM
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 Community Real Estate
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Investment Insights
Based on property information with market context.
Built in 2010, this commercial office property is arranged with 3 offices, 2 bathrooms, a kitchenette, copy room, separate utility room, and a large reception area. Built-in cabinetry adds functional storage in one office and the conference room. The property is currently leased for a 2-year period, providing an existing occupancy arrangement for the next owner.
Located at 16758 NE 23rd Street in Choctaw, Oklahoma, the property carries Commercial zoning. Its combination of private offices, meeting space, support rooms, and reception area creates a defined office configuration within an established commercial building.
Located at 16758 NE 23rd Street in Choctaw, Oklahoma, the property carries Commercial zoning. Its combination of private offices, meeting space, support rooms, and reception area creates a defined office configuration within an established commercial building.
Key Highlights
- 3 offices and 2 bathrooms
- Large reception area with kitchenette and copy room
- Built‑in cabinetry in one office and the conference room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,266
Cap Rate
7.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$405,320
$405.3K
Cap Rate 7%
$289,514
$289.5K
Cap Rate 9%
$225,178
$225.2K
Market Conditions
NOI Build-Up for 1,792 SF
Gross rent
$29.9K $16.68/SF
− Vacancy
−$2.9K −$1.60/SF
EGI
$27.0K $15.08/SF
− OpEx
−$6.8K −$3.77/SF
NOI
$20.3K $11.31/SF
Area
Oklahoma County, OK
Vacancy
9.60%
Lease Rate
$16.68 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$405,320
Cap Rate 7%
$289,514
Cap Rate 9%
$225,178
Alternative Uses
Best Use
Office B
$289.5K
$253.3K – $337.8K
NOI $20,266 @ 7.0% cap · market cap 7.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$373.2K
$326.6K – $435.5K
NOI $26,127 @ 7.0% cap · market cap 9.50%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
75
Businesses Nearby
Explore this area
Business Placement
Demographics for 73020, OK
24,627
Population
9,857
Households
2.5
Avg Household Size
42
Median Age
33%
College-Educated
92%
High-School Grad
61.6 sq mi
ZIP Area
400
Density / Sq Mi
$99,108
Median Household Income
$54,688
Median Earnings
$1,363
Median Rent
$248,700
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Three-office layout includes support areas and a reception space.
Where is this office building located?
The property is located at 16758 Ne 23rd St Choctaw, OK.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 3 offices and 2 bathrooms; Large reception area with kitchenette and copy room; Built‑in cabinetry in one office and the conference room
