Choctaw Office Building For
For Sale
Contact for pricing
Pending
17311 NE 23rd Street, Choctaw, OK 73020
3,350 sq ft commercial office building in Choctaw, Oklahoma.
Property Size3,350 SF
Days on Market332
Property Features for 17311 NE 23rd Street
General Information
Standard status
Pending
Size
3,350 SF
Class
B
Property subtype
Office
Zoning
Commercial
Lease Type
Gross
Building Details
Year Built
2007
Buildings
1
Stories
1
Listing Agency:
Horizon Realty
Listed By:
Stacy Balch · License #ok 181868
Source:
Crexi
Added: Oct 2, 2025
Changed: Aug 17
Last Checked: Aug 28 at 10:18PM
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 Horizon Realty
Investment Insights
Based on property information with market context.
This 3,350 sq.ft. commercial office building is located in a high-traffic location on NE 23rd St in Choctaw. The well-maintained property is divided into two suites. One suite is currently leased, providing rental income. The other suite is vacant and move-in ready, featuring a lobby/reception area, three large private offices, two restrooms, and a kitchen/breakroom area with refrigerator and sink. The property offers high visibility, convenient access, and versatile space suitable for professional services, medical, or a wide variety of business uses. It is suitable for an investor looking for cash flow or an owner-occupant wanting to operate their business while collecting rent.
Key Highlights
- Prime, high‑traffic location on NE 23rd St in Choctaw
- 3,350 sq.ft. commercial office building built in 2007**
- Divided into two suites: one leased for immediate rental income
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
$37,885
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
7.89%
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%
$757,700
$757.7K
Cap Rate 7%
$541,214
$541.2K
Cap Rate 9%
$420,944
$420.9K
Market Conditions
NOI Build-Up for 3,350 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
$55.9K $16.68/SF
− Vacancy
−$5.4K −$1.60/SF
EGI
$50.5K $15.08/SF
− OpEx
−$12.6K −$3.77/SF
NOI
$37.9K $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%
$757,700
Cap Rate 7%
$541,214
Cap Rate 9%
$420,944
Alternative Uses
Best Use
Office B
$541.2K
$473.6K – $631.4K
NOI $37,885 @ 7.0% cap · market cap 7.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$697.7K
$610.5K – $814.0K
NOI $48,842 @ 7.0% cap · market cap 10.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
61
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 - 3,350 sq ft commercial office building in Choctaw, Oklahoma.
Where is this office building located?
The property is located at 17311 NE 23rd Street Choctaw, OK.
What is the asking price?
The asking price for this property is $479,900.
What are key features of this property?
This property features: Prime, high‑traffic location on NE 23rd St in Choctaw; 3,350 sq.ft. commercial office building built in 2007**; Divided into two suites: one leased for immediate rental income
