Mixed-Use Property with Rooftop
New
For Sale
$580,000
1709 Wheeler St, Oklahoma City, OK 73108
Commercial space and a two-story residence are arranged within the same property, with separate private entrances for each use.
Property Size1,614 SF
Price / SF$359.36
Days on Market5
Property Features for 1709 Wheeler St
General Information
Standard status
Active
Size
1,614 SF
Amenities
multiple private entrances
rooftop access with downtown views
solar panels
Building Details
Year Built
2023
Listing Agency:
Salt Real Estate Inc
Listed By:
Sade Dawson
(405) 667-0384
Source:
Bktoklahomacity
Added: Sep 9
Changed: Sep 13
Last Checked: Sep 12 at 1:58PM
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 Salt Real Estate Inc
Investment Insights
Based on property information with market context.
This mixed-use property combines a first-floor commercial area with a two-story residence occupying the upper levels. The commercial portion is configured as a salon, while the residence includes two bedrooms, two full bathrooms, and a half bath. Multiple private entrances support separation between the business and living spaces.
The main residential level features a modern kitchen with stainless steel appliances, upscale countertops, a hexagon tile backsplash, and gold hardware. A dining area and living room are also provided, with the upper level containing a primary suite with a walk-in shower and oversized closet. Rooftop access provides downtown views, and solar panels are installed on the roof. The property is located at 1709 Wheeler St in Oklahoma City, Oklahoma.
The main residential level features a modern kitchen with stainless steel appliances, upscale countertops, a hexagon tile backsplash, and gold hardware. A dining area and living room are also provided, with the upper level containing a primary suite with a walk-in shower and oversized closet. Rooftop access provides downtown views, and solar panels are installed on the roof. The property is located at 1709 Wheeler St in Oklahoma City, Oklahoma.
Key Highlights
- First‑floor commercial area configured as a salon
- Two‑story residence occupies the second and third floors
- Residence includes 2 bedrooms and 2.5 bathrooms
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
$31,860
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
5.49%
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%
$637,200
$637.2K
Cap Rate 7%
$455,143
$455.1K
Cap Rate 9%
$354,000
$354.0K
Market Conditions
NOI Build-Up for 1,614 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
$48.4K $30.00/SF
− Vacancy
−$2.9K −$1.80/SF
EGI
$45.5K $28.20/SF
− OpEx
−$13.7K −$8.46/SF
NOI
$31.9K $19.74/SF
Area
Oklahoma City, OK
Vacancy
6.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
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%
$637,200
Cap Rate 7%
$455,143
Cap Rate 9%
$354,000
Alternative Uses
Best Use
Retail
$455.1K
$398.3K – $531.0K
NOI $31,860 @ 7.0% cap · market cap 5.49%
Second Best
Mixed Use
$318.2K
$278.4K – $371.2K
NOI $22,273 @ 7.0% cap · market cap 3.84%
Theoretical Best
Specialty Retail
$552.0K
$483.0K – $644.0K
NOI $38,639 @ 7.0% cap · market cap 6.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
220
Businesses Nearby
9k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Tinker Federal Credit Union
Shops & Services
9,420 visits/mo
0.5 miles
Demographics for 73108, OK
14,451
Population
6,221
Households
2.3
Avg Household Size
30
Median Age
4%
College-Educated
56%
High-School Grad
7.6 sq mi
ZIP Area
1,901
Density / Sq Mi
$35,278
Median Household Income
$31,017
Median Earnings
$799
Median Rent
$75,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Oklahoma City, OK
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial space and a two-story residence are arranged within the same property, with separate private entrances for each use.
Where is this mixed-use property located?
The property is located at 1709 Wheeler St Oklahoma City, OK.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: First‑floor commercial area configured as a salon; Two‑story residence occupies the second and third floors; Residence includes 2 bedrooms and 2.5 bathrooms
