Five-Office Commercial
For Sale
$380,000
411 W 1st St, Claremore, OK 74017
Includes two bathrooms, a kitchenette, reception area, and multipurpose room.
Property Size1,924 SF
Price / SF$197.51
Days on Market28
Property Features for 411 W 1st St
General Information
Standard status
Active
Size
1,924 SF
Taxes and HOA fees
Annual Taxes
$1,412
Amenities
kitchenette
reception-lobby area
muti-purpose room
Building Details
Buildings
1
Listing Agency:
Nees Realty LLC
(918) 260-2243
Listed By:
Devi I Allison · License #131244
(918) 260-2243
Source:
Exprealty
Added: Jul 24
Changed: Aug 20
Last Checked: Aug 20 at 1:10PM
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 Nees Realty LLC
Investment Insights
Based on property information with market context.
This 1,924-square-foot office building is configured with five private office spaces, two bathrooms, a kitchenette, a reception-lobby area, and a multipurpose room. The layout provides a mix of dedicated work areas and shared support space within a professional commercial setting.
The property is located at 411 W 1st St in Claremore, directly across from the Rogers County Courthouse. Its position places the building within Claremore’s commercial district and provides a clearly identified office location for occupants and visitors.
The property is located at 411 W 1st St in Claremore, directly across from the Rogers County Courthouse. Its position places the building within Claremore’s commercial district and provides a clearly identified office location for occupants and visitors.
Key Highlights
- 1,924 SF office building at 411 W 1st St, Claremore, OK
- Five office spaces with reception‑lobby area
- Two bathrooms and a kitchenette
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
$25,374
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
6.68%
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%
$507,480
$507.5K
Cap Rate 7%
$362,486
$362.5K
Cap Rate 9%
$281,933
$281.9K
Market Conditions
NOI Build-Up for 1,924 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
$37.6K $19.56/SF
− Vacancy
−$3.8K −$1.98/SF
EGI
$33.8K $17.58/SF
− OpEx
−$8.5K −$4.40/SF
NOI
$25.4K $13.19/SF
Area
Rogers County, OK
Vacancy
10.10%
Lease Rate
$19.56 /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%
$507,480
Cap Rate 7%
$362,486
Cap Rate 9%
$281,933
Alternative Uses
Best Use
Office B
$362.5K
$317.2K – $422.9K
NOI $25,374 @ 7.0% cap · market cap 6.68%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$481.9K
$421.7K – $562.2K
NOI $33,732 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
866
Businesses Nearby
Explore this area
Business Placement
Demographics for 74017, OK
29,083
Population
12,038
Households
2.4
Avg Household Size
40
Median Age
23%
College-Educated
92%
High-School Grad
140.5 sq mi
ZIP Area
207
Density / Sq Mi
$65,519
Median Household Income
$38,165
Median Earnings
$1,015
Median Rent
$184,400
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 - Includes two bathrooms, a kitchenette, reception area, and multipurpose room.
Where is this office building located?
The property is located at 411 W 1st St Claremore, OK.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: 1,924 SF office building at 411 W 1st St, Claremore, OK; Five office spaces with reception‑lobby area; Two bathrooms and a kitchenette
