Zoned Medical Office
For Sale
$215,000
1929 NW 23rd Street, Oklahoma City, OK 73106
Well-maintained office space with reception, four private rooms, one restroom, and a large unfinished basement.
Days on Market96
Property Features for 1929 NW 23rd Street
General Information
Standard status
Active
Property subtype
Commercial
Zoning
O-2
Additional Details
Highway Access
Yes
Building Details
Building Size
1,392 SF
Year Built
1932
Listing Agency:
Spearhead Realty Group LLC
(405) 514-0930
Listed By:
Thao Nguyen-Pham · License #200060
(405) 514-0930
Source:
Capitalrealestateok
Added: Apr 28
Changed: Jul 26
Last Checked: Aug 1 at 12:32PM
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 Spearhead Realty Group LLC
Investment Insights
Based on property information with market context.
Well-maintained commercial office space suitable for medical office, professional business, or studio use. The interior layout includes a welcoming reception area, four private rooms, and one restroom. An unfinished, spacious basement provides additional storage and potential for future expansion. The property is in great condition and offered ready for immediate use.
Zoned O-2, the building features an accessible front entrance for clients and staff and a large concrete parking area in the rear for convenient access.
The configuration supports a client-facing workflow with multiple private rooms, complemented by additional basement space for storage or growth.
Zoned O-2, the building features an accessible front entrance for clients and staff and a large concrete parking area in the rear for convenient access.
The configuration supports a client-facing workflow with multiple private rooms, complemented by additional basement space for storage or growth.
Key Highlights
- Zoned O‑2 commercial space with reception area, four private rooms, and one restroom
- Year built 1932; interior described as well‑maintained and ready for immediate use
- Unfinished 900 SF basement for storage or potential expansion
Financial Insights For Healthcare Medical
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 | $35.1k | $25.20 |
| − Vacancy | −$2.3k | −$1.64 |
| EGI | $32.8k | $23.56 |
| − OpEx | −$13.1k | −$9.42 |
| NOI | $19.7k | $14.14 |
1,392 SF · lease $25.20/SF/yr · vacancy 6.50% · expense 40.00%
Alternative Uses
Best Use
Office B
$282.9K
$247.6K – $330.1K
NOI $19,804 @ 7.0% cap · market cap 9.21%
Second Best
Healthcare Medical
$281.1K
$246.0K – $328.0K
NOI $19,679 @ 7.0% cap · market cap 9.15%
Theoretical Best
Specialty Retail
$476.1K
$416.6K – $555.4K
NOI $33,324 @ 7.0% cap · market cap 15.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,232
Businesses Nearby
Under-served
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Well-maintained office space with reception, four private rooms, one restroom, and a large unfinished basement.
Where is this medical office space located?
The property is located at 1929 NW 23rd Street Oklahoma City, OK.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Zoned O‑2 commercial space with reception area, four private rooms, and one restroom; Year built 1932; interior described as well‑maintained and ready for immediate use; Unfinished 900 SF basement for storage or potential expansion
