Standalone Office
New
For Sale
$499,900
1917 Commerce Street, Choctaw, OK 73020
Commercial Sale, Choctaw, OK
Property Size2,478 SF
Lot Size0.50 Acres
Price / SF$201.74
Days on Market6
Property Features for 1917 Commerce Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Commercial
Directions
From NE 23rd St and Harper, travel south on Harper to NE 20th. Then left or east on NE 20th until it dead ends into Commerce St. Building is last building on the right.
Standard status
Active
APN
1917NONECommerce73020
Size
2,478 SF
Lot size
0.50 Acres
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Amenities
reception and common areas
kitchen/breakroom
server/IT room
washer/dryer hookups
executive office with private full bath
commercial grade attic lift
monument signage
Building Details
Year built
2017
Floors in Building
1
Building materials
Brick & Frame
Listing Agency:
Metro Group Brokers
(405) 737-4700
Listed By:
Amy Taylor · License #173874
(918) 812-4733
Added: Aug 16
Changed: Aug 21
Last Checked: Aug 21 at 10:06AM
MLS# 1244486
Copyright © 2026 MLSOK, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2017, this 2,478-square-foot office building provides 11 private offices along with reception and shared common areas. The interior includes a kitchen and breakroom, dedicated server/IT room, washer and dryer hookups, and an executive office with a private full bath. Two offices have water lines in place, supporting a range of professional configurations. Polished concrete flooring, natural light, and contemporary finishes complete the interior. A reinforced, decked attic is served by a commercial-grade lift for additional storage.
The property is zoned Commercial and includes 13 existing parking spaces and monument signage. Public water and public sewer serve the site. Located in Choctaw Creek Business Park, the building offers access to I-40, Tinker AFB, and the greater Oklahoma City metro, with nearby retail and dining along Choctaw’s commercial corridor.
The property is zoned Commercial and includes 13 existing parking spaces and monument signage. Public water and public sewer serve the site. Located in Choctaw Creek Business Park, the building offers access to I-40, Tinker AFB, and the greater Oklahoma City metro, with nearby retail and dining along Choctaw’s commercial corridor.
Key Highlights
- 2,478 SF office building constructed in 2017
- 11 private offices with reception and shared common areas
- Two offices include existing water lines for specialty configurations
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
$28,024
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
5.61%
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%
$560,480
$560.5K
Cap Rate 7%
$400,343
$400.3K
Cap Rate 9%
$311,378
$311.4K
Market Conditions
NOI Build-Up for 2,478 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
$41.3K $16.68/SF
− Vacancy
−$4.0K −$1.60/SF
EGI
$37.4K $15.08/SF
− OpEx
−$9.3K −$3.77/SF
NOI
$28.0K $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%
$560,480
Cap Rate 7%
$400,343
Cap Rate 9%
$311,378
Alternative Uses
Best Use
Office B
$400.3K
$350.3K – $467.1K
NOI $28,024 @ 7.0% cap · market cap 5.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$516.1K
$451.6K – $602.2K
NOI $36,129 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
295
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 - Modern commercial office property with private workrooms, shared amenities, and specialty-use plumbing in two offices.
Where is this office building located?
The property is located at 1917 Commerce Street Choctaw, OK.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 2,478 SF office building constructed in 2017; 11 private offices with reception and shared common areas; Two offices include existing water lines for specialty configurations
