Commercial Office Building with
For Sale
$275,000
16758 NE 23rd Street, Choctaw, OK 73020
Three-office layout includes support areas and a reception space.
Property Size1,792 SF
Days on Market85
Property Features for 16758 NE 23rd Street
General Information
Standard status
Active
Size
1,792 SF
Property subtype
Commercial
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$2,726
Building Details
Building Size
1,792 SF
Year Built
2010
Listing Agency:
Community Real Estate
(405) 664-4007
Listed By:
Lecye Doolen
(405) 664-4007
Source:
Capitalrealestateok
Added: May 29
Changed: Aug 13
Last Checked: Aug 20 at 1:38PM
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
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 = 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
$20,266
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
7.37%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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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 Street 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
