Brick Office
For Sale
$380,000
411 W 1st Street, Claremore, OK 74017
Commercial, Claremore, OK
Property Size1,924 SF
Lot Size0.31 Acres
Price / SF$197.51
Days on Market47
Property Features for 411 W 1st Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Urban Comm
Interior features
Mini-Kitchen
Exterior features
Pole Sign
Subdivision
CLAREMORE OT
Elementary school district
Claremore - Sch Dist (20)
Middle school district
Claremore - Sch Dist (20)
High school district
Claremore - Sch Dist (20)
Directions
From Hwy 66 (Lynn Riggs Blvd.), travel east one block on 1st Street. Property is located on the south side of the street.
Standard status
Active
APN
660007145
Size
1,924 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
WLY 42' LOT 1 BLOCK 137 CLAREMORE O T
Tax Annual Amount
1412
Legal Description
WLY 42' LOT 1 BLOCK 137 CLAREMORE O T
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1981
Floors in Building
1
Building materials
Brick
Roof type
Composition
Listing Agency:
Keller Williams Premier · Keller Williams Realty
(918) 283-2252
Listed By:
Patricia Lederman
(918) 814-0241
Added: Jul 24
Changed: Aug 19
Last Checked: Sep 8 at 10:06PM
MLS# 2627264
Copyright © 2026 MLS Technology, 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 1,924-square-foot office building provides a practical professional layout with five private offices, two restrooms, a kitchenette, reception and lobby areas, and a flexible multi-purpose room for meetings, training, or additional workspace. Brick construction, central heating, central air, and a composition roof complete the improvements, with a pole sign supporting property identification.
The property is located at 411 W 1st Street in Claremore, directly across from the Rogers County Courthouse. It occupies 0.31 acres and carries Urban Comm zoning. Built in 1981, the building combines established construction with a configuration suited to a range of office operations.
The property is located at 411 W 1st Street in Claremore, directly across from the Rogers County Courthouse. It occupies 0.31 acres and carries Urban Comm zoning. Built in 1981, the building combines established construction with a configuration suited to a range of office operations.
Key Highlights
- 1,924‑square‑foot office building on 0.31 acres
- Five private offices, reception and lobby areas, and a flexible multi‑purpose room
- Two restrooms and a mini‑kitchen
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
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Frequently Asked Questions
What type of property is this?
Office building - Professional workspace includes private offices, reception, a kitchenette, flexible meeting area, and two restrooms.
Where is this office building located?
The property is located at 411 W 1st Street 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‑square‑foot office building on 0.31 acres; Five private offices, reception and lobby areas, and a flexible multi‑purpose room; Two restrooms and a mini‑kitchen
