Renovated Office
For Sale
$575,000
307 S 7th St, Chickasha, OK 73018
The property accommodates the Department of Human Services in a professionally renovated office setting.
Property Size4,868 SF
Price / SF$138.96
Days on Market142
Property Features for 307 S 7th St
General Information
Standard status
Active
Size
4,868 SF
Building Details
Year Renovated
2021
Buildings
1
Building Size
4,868 SF
Tenancy
Single
Listing Agency:
Always Real Estate
(405) 361-0874
Listed By:
Shari Brunt · License #789339
(405) 361-0874
Source:
Exprealty
Added: Apr 12
Changed: Aug 31
Last Checked: Jul 7 at 10:16PM
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 Always Real Estate
Investment Insights
Based on property information with market context.
This 4,868-square-foot office building in Chickasha, Oklahoma, is occupied by the Department of Human Services. The improvements were fully renovated in 2021, providing a recently updated office asset with an established occupant.
The property is located at 307 7th Street and includes a lease guaranty. Its existing office use and recent renovation create a straightforward profile for investors evaluating an occupied commercial building.
The property is located at 307 7th Street and includes a lease guaranty. Its existing office use and recent renovation create a straightforward profile for investors evaluating an occupied commercial building.
Key Highlights
- 4,868 SF office building
- Fully renovated in 2021
- Occupied by the Department of Human Services
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
$35,095
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
6.10%
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%
$701,900
$701.9K
Cap Rate 7%
$501,357
$501.4K
Cap Rate 9%
$389,944
$389.9K
Market Conditions
NOI Build-Up for 4,138 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
$63.1K $15.24/SF
− Vacancy
−$16.3K −$3.93/SF
EGI
$46.8K $11.31/SF
− OpEx
−$11.7K −$2.83/SF
NOI
$35.1K $8.48/SF
Area
Grady County, OK
Vacancy
25.80%
Lease Rate
$15.24 /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%
$701,900
Cap Rate 7%
$501,357
Cap Rate 9%
$389,944
Alternative Uses
Best Use
Office B
$501.4K
$438.7K – $584.9K
NOI $35,095 @ 7.0% cap · market cap 6.10%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.00M
$875.2K – $1.17M
NOI $70,015 @ 7.0% cap · market cap 12.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
772
Businesses Nearby
Explore this area
Business Placement
Demographics for 73018, OK
19,806
Population
9,509
Households
2.1
Avg Household Size
38
Median Age
20%
College-Educated
89%
High-School Grad
155.1 sq mi
ZIP Area
128
Density / Sq Mi
$58,340
Median Household Income
$32,414
Median Earnings
$877
Median Rent
$126,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - The property accommodates the Department of Human Services in a professionally renovated office setting.
Where is this office building located?
The property is located at 307 S 7th St Chickasha, OK.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 4,868 SF office building; Fully renovated in 2021; Occupied by the Department of Human Services
