Highway Frontage Commercial
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17983 E 116th Street N, Owasso, OK 74055
Newly constructed, adaptable building with high visibility and expansion potential.
Property Size1,900 SF
Price / SF$278.95
Days on Market518
Property Features for 17983 E 116th Street N
General Information
Standard status
Active
Size
1,900 SF
Property subtype
Retail, Office, Mixed Use
Building Details
Year Built
2023
Listing Agency:
Keller Williams Realty Premier
(918) 798-5581
Listed By:
Jackie Shields · License #OK 156798
Source:
Crexi
Added: Mar 13, 2025
Changed: Aug 8
Last Checked: Aug 11 at 6:46PM
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 Realty Premier
Investment Insights
Based on property information with market context.
This newly constructed building offers an adaptable space suitable for retail, office, or specialized use. The property features a modern interior and is move-in ready. One bathroom is completed, with plumbing for two additional bathrooms to accommodate staff or customers. The property is located on Highway 20, offering high exposure and excellent traffic flow. Two adjoining lots are available for an additional cost, presenting bonus land and development potential. Approved plans for additional buildings on-site are included. The building contains 1,900 square feet of space. This location is a strategic opportunity for long-term growth.
Key Highlights
- High‑visibility location with premium highway frontage and excellent traffic flow.
- Newly constructed (2023) and move‑in ready building with modern interior.
- Flexible space adaptable for retail, office, or specialized use.
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
$23,422
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
4.42%
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%
$468,440
$468.4K
Cap Rate 7%
$334,600
$334.6K
Cap Rate 9%
$260,244
$260.2K
Market Conditions
NOI Build-Up for 1,900 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
$35.6K $18.72/SF
− Vacancy
−$4.3K −$2.28/SF
EGI
$31.2K $16.44/SF
− OpEx
−$7.8K −$4.11/SF
NOI
$23.4K $12.33/SF
Area
Tulsa County, OK
Vacancy
12.20%
Lease Rate
$18.72 /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%
$468,440
Cap Rate 7%
$334,600
Cap Rate 9%
$260,244
Alternative Uses
Best Use
Office B
$334.6K
$292.8K – $390.4K
NOI $23,422 @ 7.0% cap · market cap 4.42%
Second Best
Retail
$276.5K
$241.9K – $322.5K
NOI $19,352 @ 7.0% cap · market cap 3.65%
Theoretical Best
Office A
$428.2K
$374.7K – $499.6K
NOI $29,975 @ 7.0% cap · market cap 5.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
189
Businesses Nearby
Explore this area
Business Placement
Demographics for 74055, OK
48,776
Population
19,539
Households
2.5
Avg Household Size
37
Median Age
39%
College-Educated
95%
High-School Grad
50.9 sq mi
ZIP Area
958
Density / Sq Mi
$86,897
Median Household Income
$46,956
Median Earnings
$1,218
Median Rent
$261,400
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?
Mixed-use property - Newly constructed, adaptable building with high visibility and expansion potential.
Where is this mixed-use property located?
The property is located at 17983 E 116th Street N Owasso, OK.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: High‑visibility location with premium highway frontage and excellent traffic flow.; Newly constructed (2023) and move‑in ready building with modern interior.; Flexible space adaptable for retail, office, or specialized use.
