Freestanding Office
New
For Sale
$1,025,000
2905 NW 156th Street, Edmond, OK 73013
A 2009 office property offers private work areas, a conference room, a bullpen, and on-site surface parking.
Property Size4,642 SF
Days on Market6
Property Features for 2905 NW 156th Street
General Information
Standard status
Active
Size
4,642 SF
Property subtype
Office
Building Details
Building Size
4,642 SF
Year Built
2009
Listing Agency:
The Property Center LLC
Listed By:
Abbie Davis · License #155984
(405) 474-1228
Source:
Stetsonbentley
Added: Sep 21
Changed: Sep 25
Last Checked: Sep 25 at 2:16AM
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 The Property Center LLC
Investment Insights
Based on property information with market context.
This freestanding office building contains 4,672 square feet and was built in 2009. Its brick-and-stone exterior encloses a reception area, multiple private offices, a conference room, an open bullpen, a kitchen and breakroom, and ADA restrooms. On-site surface parking serves the property, which is designated for office and professional use.
The property is in Edmond, with access to the Kilpatrick Turnpike and North May Avenue. Restaurants, banks, and other professional services are nearby.
The property is in Edmond, with access to the Kilpatrick Turnpike and North May Avenue. Restaurants, banks, and other professional services are nearby.
Key Highlights
- 4,672 square feet of office space
- Built in 2009 with a brick‑and‑stone exterior
- Reception, private offices, conference room, open bullpen, kitchen/breakroom, and ADA restrooms
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
$52,497
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
5.12%
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%
$1,049,940
$1.0M
Cap Rate 7%
$749,957
$750.0K
Cap Rate 9%
$583,300
$583.3K
Market Conditions
NOI Build-Up for 4,642 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
$77.4K $16.68/SF
− Vacancy
−$7.4K −$1.60/SF
EGI
$70.0K $15.08/SF
− OpEx
−$17.5K −$3.77/SF
NOI
$52.5K $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%
$1,049,940
Cap Rate 7%
$749,957
Cap Rate 9%
$583,300
Alternative Uses
Best Use
Office B
$750.0K
$656.2K – $875.0K
NOI $52,497 @ 7.0% cap · market cap 5.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$966.8K
$846.0K – $1.13M
NOI $67,679 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
410
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
Check the figures for this property
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - A 2009 office property offers private work areas, a conference room, a bullpen, and on-site surface parking.
Where is this office building located?
The property is located at 2905 NW 156th Street Edmond, OK.
What is the asking price?
The asking price for this property is $1,025,000.
What are key features of this property?
This property features: 4,672 square feet of office space; Built in 2009 with a brick‑and‑stone exterior; Reception, private offices, conference room, open bullpen, kitchen/breakroom, and ADA restrooms
