Stone-Facade Office
For Sale
Contact for pricing
2240 NW 164TH ST, Edmond, OK 73013
Built in 2007, the property combines private offices with shared reception, waiting, restroom, and workspace areas.
Property Size3,666 SF
Price / SF$197.76
Days on Market8
Property Features for 2240 NW 164TH ST
General Information
Standard status
Active
Size
3,666 SF
Property subtype
Office
Zoning
Commercial
Additional Details
Asking Price
$725,000
Highway Access
Yes
Building Details
Year Built
2007
Buildings
1
Stories
1
Units
1
Building Size
3,666 SF
Listing Agency:
Horizon Commercial Real Estate
(405) 844-4110
Listed By:
Nicole Mayes · License #OK 149752
Source:
Crexi
Added: Aug 4
Changed: Aug 11
Last Checked: Aug 11 at 3:31PM
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 Horizon Commercial Real Estate
Investment Insights
Based on property information with market context.
Located at 2240 NW 164th Street in Edmond, Oklahoma, this 3,666-square-foot office building was constructed in 2007 and features a professional stone exterior. The interior includes multiple private offices, a reception area, waiting room, restrooms, and a large central workspace, supporting a range of office configurations and owner-occupant needs.
The property is positioned near the Kilpatrick Turnpike and Lake Hefner Parkway, with access to surrounding neighborhoods, retail, dining, and major commuter routes. Signage potential is also identified as a property feature, adding a practical branding consideration for an operating business.
The property is positioned near the Kilpatrick Turnpike and Lake Hefner Parkway, with access to surrounding neighborhoods, retail, dining, and major commuter routes. Signage potential is also identified as a property feature, adding a practical branding consideration for an operating business.
Key Highlights
- 3,666 SF office building at 2240 NW 164th Street, Edmond, OK
- Built in 2007 with a professional stone façade
- Multiple private offices, reception area, and waiting room
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
$41,459
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
5.72%
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%
$829,180
$829.2K
Cap Rate 7%
$592,271
$592.3K
Cap Rate 9%
$460,656
$460.7K
Market Conditions
NOI Build-Up for 3,666 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
$61.1K $16.68/SF
− Vacancy
−$5.9K −$1.60/SF
EGI
$55.3K $15.08/SF
− OpEx
−$13.8K −$3.77/SF
NOI
$41.5K $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%
$829,180
Cap Rate 7%
$592,271
Cap Rate 9%
$460,656
Alternative Uses
Best Use
Office B
$592.3K
$518.2K – $691.0K
NOI $41,459 @ 7.0% cap · market cap 5.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$763.6K
$668.1K – $890.8K
NOI $53,449 @ 7.0% cap · market cap 7.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
337
Businesses Nearby
Explore this area
Business Placement
Demographics for 73013, OK
56,972
Population
22,971
Households
2.5
Avg Household Size
36
Median Age
59%
College-Educated
97%
High-School Grad
32.7 sq mi
ZIP Area
1,742
Density / Sq Mi
$108,727
Median Household Income
$54,073
Median Earnings
$1,465
Median Rent
$292,500
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 - Built in 2007, the property combines private offices with shared reception, waiting, restroom, and workspace areas.
Where is this office building located?
The property is located at 2240 NW 164TH ST Edmond, OK.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 3,666 SF office building at 2240 NW 164th Street, Edmond, OK; Built in 2007 with a professional stone façade; Multiple private offices, reception area, and waiting room
