Single-Tenant Office
New
For Sale
$1,425,000
2909 Astoria Way, Edmond, OK 73034
Professional office property with dedicated parking, monument signage, and storage access in an established executive park.
Property Size6,336 SF
Price / SF$224.91
Days on Market3
Property Features for 2909 Astoria Way
General Information
Standard status
Active
Size
6,336 SF
Class
B
Total Parking Spaces
24
Property subtype
Single Tenant Office
Additional Details
Highway Access
Yes
Amenities
monument signage
overhead door access
Building Details
Building Size
6,336 SF
Year Built
2016
Buildings
1
Tenancy
Single
Listing Agency:
Fleske Holding Company
(405) 514-5685
Listed By:
Emily Duncan Belusko · License #205976
(405) 514-5685
Source:
Thebrokerlist
Added: Aug 12
Changed: Aug 13
Last Checked: Aug 13 at 7:10AM
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 Fleske Holding Company
Investment Insights
Based on property information with market context.
This 6,336 SF office building provides a professional setting with quality office finishes and a functional interior layout. The property includes 24 parking spaces, monument signage, and overhead door access to a dedicated storage area. Built as a single-tenant office property, it offers a defined configuration for an owner-user or professional office operation.
The building is located at 2909 Astoria Way in Astoria Executive Park in Edmond, Oklahoma. Access to I-35 and the Kilpatrick Turnpike connects the property with the Oklahoma City metro. Established businesses, retail, dining, and the University of Central Oklahoma are identified in the surrounding area.
The building is located at 2909 Astoria Way in Astoria Executive Park in Edmond, Oklahoma. Access to I-35 and the Kilpatrick Turnpike connects the property with the Oklahoma City metro. Established businesses, retail, dining, and the University of Central Oklahoma are identified in the surrounding area.
Key Highlights
- 6,336 SF office building at 2909 Astoria Way
- 24 parking spaces included
- Monument signage supports property identification
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
$71,654
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
5.03%
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%
$1,433,080
$1.4M
Cap Rate 7%
$1,023,629
$1.0M
Cap Rate 9%
$796,156
$796.2K
Market Conditions
NOI Build-Up for 6,336 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
$105.7K $16.68/SF
− Vacancy
−$10.1K −$1.60/SF
EGI
$95.5K $15.08/SF
− OpEx
−$23.9K −$3.77/SF
NOI
$71.7K $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%
$1,433,080
Cap Rate 7%
$1,023,629
Cap Rate 9%
$796,156
Alternative Uses
Best Use
Office B
$1.02M
$895.7K – $1.19M
NOI $71,654 @ 7.0% cap · market cap 5.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.32M
$1.15M – $1.54M
NOI $92,377 @ 7.0% cap · market cap 6.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Explore this area
Business Placement
Demographics for 73034, OK
47,553
Population
18,727
Households
2.5
Avg Household Size
37
Median Age
59%
College-Educated
96%
High-School Grad
51.7 sq mi
ZIP Area
920
Density / Sq Mi
$113,296
Median Household Income
$52,163
Median Earnings
$1,203
Median Rent
$368,000
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 - Professional office property with dedicated parking, monument signage, and storage access in an established executive park.
Where is this office building located?
The property is located at 2909 Astoria Way Edmond, OK.
What is the asking price?
The asking price for this property is $1,425,000.
What are key features of this property?
This property features: 6,336 SF office building at 2909 Astoria Way; 24 parking spaces included; Monument signage supports property identification
