Mixed-Use Building with Flexible
For Sale
Contact for pricing
1736 NW 15th St, Oklahoma City, OK 73106
Flexible zoning supports restaurant, retail, office, creative space, and penthouse residence concepts.
Property Size7,520 SF
Price / SF$238.70
Days on Market173
Property Features for 1736 NW 15th St
General Information
Standard status
Active
Size
7,520 SF
Property subtype
OFFICE
Listing Agency:
Creek CRE
(405) 510-0079
Listed By:
Aden Struble · License #209339
(405) 210-3910
Source:
Moodyscre
Added: Mar 19
Changed: Sep 5
Last Checked: Aug 14 at 7:59AM
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 Creek CRE
Investment Insights
Based on property information with market context.
This mixed-use building offers flexible zoning intended to support multiple concepts, including restaurant, retail, office, creative space, or a luxury penthouse residence. With approximately 7,520 square feet, the property is set up for a tenant or owner to align the space with a variety of allowable uses.
Located at 1736 NW 15th St in Oklahoma City, the property is described as being just steps from one of OKC’s vibrant cultural and commercial hubs within the Plaza District area. That proximity may help support both street-facing retail/restaurant activity and professional or creative office-oriented uses, depending on the final configuration.
Located at 1736 NW 15th St in Oklahoma City, the property is described as being just steps from one of OKC’s vibrant cultural and commercial hubs within the Plaza District area. That proximity may help support both street-facing retail/restaurant activity and professional or creative office-oriented uses, depending on the final configuration.
Key Highlights
- Flexible mixed‑use zoning supports restaurant, retail, office, creative space, or a luxury penthouse residence concept.
- Located just steps from one of OKC’s most vibrant cultural and commercial hubs.
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
$148,445
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
8.27%
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%
$2,968,900
$3.0M
Cap Rate 7%
$2,120,643
$2.1M
Cap Rate 9%
$1,649,389
$1.6M
Market Conditions
NOI Build-Up for 7,520 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
$225.6K $30.00/SF
− Vacancy
−$13.5K −$1.80/SF
EGI
$212.1K $28.20/SF
− OpEx
−$63.6K −$8.46/SF
NOI
$148.4K $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%
$2,968,900
Cap Rate 7%
$2,120,643
Cap Rate 9%
$1,649,389
Alternative Uses
Best Use
Retail
$2.12M
$1.86M – $2.47M
NOI $148,445 @ 7.0% cap · market cap 8.27%
Second Best
Office B
$1.53M
$1.34M – $1.78M
NOI $106,989 @ 7.0% cap · market cap 5.96%
Theoretical Best
Specialty Retail
$2.57M
$2.25M – $3.00M
NOI $180,029 @ 7.0% cap · market cap 10.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
695
Businesses Nearby
Explore this area
Business Placement
Demographics for 73106, OK
12,956
Population
6,069
Households
2.1
Avg Household Size
32
Median Age
40%
College-Educated
85%
High-School Grad
3.0 sq mi
ZIP Area
4,319
Density / Sq Mi
$51,934
Median Household Income
$32,145
Median Earnings
$1,050
Median Rent
$262,500
Median Home Value
Market
Vacancy Rate% for Office in Oklahoma City, OK
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Flexible zoning supports restaurant, retail, office, creative space, and penthouse residence concepts.
Where is this office building located?
The property is located at 1736 NW 15th St Oklahoma City, OK.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: Flexible mixed‑use zoning supports restaurant, retail, office, creative space, or a luxury penthouse residence concept.; Located just steps from one of OKC’s most vibrant cultural and commercial hubs.
