Freestanding Office
New
For Sale
$1,025,000
2905 NW 156th Street, Edmond, OK 73013
Commercial Sale, Edmond, OK
Property Size4,672 SF
Lot Size0.37 Acres
Price / SF$220.81
Days on Market2
Property Features for 2905 NW 156th Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Commercial
Directions
From N May Avenue, turn west onto NW 156th St into the Esperanza North business park. Take the first right into the parking lot. The building is the first on the right.
Standard status
Active
APN
2905NW156th73013
Size
4,642 SF
Lot size
0.37 Acres
Amenities
conference room
kitchen/breakroom
Building Details
Year built
2009
Building materials
Brick & Frame
Listing Agency:
The Property Center LLC
(405) 355-2500
Listed By:
Abbie Davis · License #155984
(405) 474-1228
Added: Sep 21
Last Checked: Sep 22 at 9:06PM
MLS# 1249723
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.
This freestanding office building provides a professional configuration with a reception area, multiple private offices, a conference room, kitchen and breakroom space, an open bullpen area, and ADA restrooms. The property was built in 2009 and includes on-site surface parking.
The building is located in Edmond near Kilpatrick Turnpike, North May Avenue, and major Edmond and Oklahoma City traffic routes. Restaurants, banks, and other professional services are nearby. Its existing layout supports a range of office operations, including medical, legal, financial, real estate, and general office uses as identified for the property.
The building is located in Edmond near Kilpatrick Turnpike, North May Avenue, and major Edmond and Oklahoma City traffic routes. Restaurants, banks, and other professional services are nearby. Its existing layout supports a range of office operations, including medical, legal, financial, real estate, and general office uses as identified for the property.
Key Highlights
- 4,642 square feet of office space
- Freestanding building constructed in 2009
- Reception area, private offices, conference room, and open bullpen
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
Lease Details
Yes
Highway access
Yes
Paved road access
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
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Professional office layout with private rooms, conference space, breakroom, open bullpen area, and ADA restrooms.
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: 4,642 square feet of office space; Freestanding building constructed in 2009; Reception area, private offices, conference room, and open bullpen
