Retail and Office Corridor
1732 Nw 23rd St Oklahoma City, OK 73111
For Sale
$690,000
Commercial property offered for sale with options for retail and office use along a major OKC corridor.
Property Size2,412 SF
Price / SF$286.07
Days on Market40
Property Features for 1732 Nw 23rd St
General Information
- Standard status
- Active
- Size
- 2,412 SF
Listing Agency:
Keller Williams Summit
(405) 314-8199
Listed By:
Sue Yoon · License #144471
(405) 314-8199
Source:
Exprealty
Added: Jun 14
Changed: Jul 22
Last Checked: Jul 22 at 12:07PM
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 Keller Williams Summit
Investment Insights
Based on property information with market context.
This commercial property offers flexible use for retail and office tenants, with availability for purchase or lease. The offering also includes the adjacent opportunity at 1724 NW 23rd Street, which may support assemblage and expanded development possibilities where additional space is needed.
The property is positioned on the NW 23rd Street corridor within the broader Plaza District and nearby entertainment, dining, retail, and cultural destinations. It is described as minutes from I-44 and I-235, supporting convenient access for visitors and day-to-day operations.
The property is presented as an owner-user, investor, or redevelopment option, with the adjacent parcel potentially creating additional frontage and space for operational needs such as outdoor seating or storage, subject to applicable approvals.
The property is positioned on the NW 23rd Street corridor within the broader Plaza District and nearby entertainment, dining, retail, and cultural destinations. It is described as minutes from I-44 and I-235, supporting convenient access for visitors and day-to-day operations.
The property is presented as an owner-user, investor, or redevelopment option, with the adjacent parcel potentially creating additional frontage and space for operational needs such as outdoor seating or storage, subject to applicable approvals.
Key Highlights
- Commercial property on NW 23rd Street in Oklahoma City’s active entertainment, dining, retail, and cultural corridor
- Minutes from I‑44 and I‑235 for convenient access
- Offered for sale or lease; lease rate listed at $3,500 per month
Financial Insights For Retail
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 | $72.4k | $30.00 |
| − Vacancy | −$4.3k | −$1.80 |
| EGI | $68.0k | $28.20 |
| − OpEx | −$20.4k | −$8.46 |
| NOI | $47.6k | $19.74 |
2,412 SF · lease $30.00/SF/yr · vacancy 6.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$680.2K
$595.2K – $793.6K
NOI $47,613 @ 7.0% cap · market cap 6.90%
Second Best
Office B
$490.2K
$429.0K – $571.9K
NOI $34,316 @ 7.0% cap · market cap 4.97%
Theoretical Best
Specialty Retail
$824.9K
$721.8K – $962.4K
NOI $57,743 @ 7.0% cap · market cap 8.37%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Work Ready Oklahoma
Business Service Center
Organizational CFO LLC
Consultant
Spiked. A Coffee Concept
Cafe & Coffee Shop
FAQs
What type of property is this?
Retail space - Commercial property offered for sale with options for retail and office use along a major OKC corridor.
Where is this retail space located?
The property is located at 1732 Nw 23rd St Oklahoma City, OK.
What is the asking price?
The asking price for this property is $690,000.
What are key features of this property?
This property features: Commercial property on NW 23rd Street in Oklahoma City’s active entertainment, dining, retail, and cultural corridor; Minutes from I‑44 and I‑235 for convenient access; Offered for sale or lease; lease rate listed at $3,500 per month
