Building Details

Year built 1982

Floors in Building 1

Building materials Aluminum Siding, Brick, Brick & Frame, Vinyl Siding

Listing Agency: Whittington Realty r***@whittingtonhome.com Show Phone

Listed By: Jennifer J Bullard · License #119283 Show Phone

Added: Oct 6, 2025 Changed: Aug 20 Last Checked: Aug 22 at 5:06PM

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MLS# 1193506

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 office property includes a 4,000-square-foot building on approximately 0.61 acres. Constructed in 1982, the building features aluminum siding, brick, brick-and-frame, and vinyl siding components, along with natural-gas heat and central electric air conditioning. Public water and a septic tank serve the property.

The site has 80 feet of highway frontage and sits about one-quarter mile from the Highway 37 and Highway 4 intersection in Tuttle, Oklahoma. Its address is 4705 E 37 Highway. Nearby context identified in the property information includes land acquired by Braum’s and McDonald’s, as well as a casino described as coming soon.

Key Highlights

• 4,000‑square‑foot office building on 0.61 acres
• 80 feet of highway frontage
• Approximately one‑quarter mile from the Highway 37 and Highway 4 intersection

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

$33,924

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

3.99%

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%

$678,480 $678.5K

Cap Rate 7%

$484,629 $484.6K

Cap Rate 9%

$376,933 $376.9K

Market Conditions

NOI Build-Up for 4,000 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

$61.0K $15.24/SF

− Vacancy

−$15.7K −$3.93/SF

EGI

$45.2K $11.31/SF

− OpEx

−$11.3K −$2.83/SF

NOI

$33.9K $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%

$678,480

Cap Rate 7%

$484,629

Cap Rate 9%

$376,933

Alternative Uses

Best Use

Office B

$484.6K

$424.1K – $565.4K (±1% cap)

NOI $33,924 @ 7.0% cap · market cap 3.99%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$966.9K

$846.0K – $1.13M (±1% cap)

NOI $67,680 @ 7.0% cap · market cap 7.96%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Office buildings

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

96

Businesses Nearby

Explore this area Business Placement

Demographics for 73089, OK

13,696

Population

5,040

Households

2.7

Avg Household Size

41

Median Age

26%

College-Educated

93%

High-School Grad

106.8 sq mi

ZIP Area

128

Density / Sq Mi

$101,205

Median Household Income

$52,277

Median Earnings

$912

Median Rent

$264,200

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Office building - Commercially zoned office property with direct highway exposure, public water, and septic service.

Where is this office building located?

The property is located at 4705 E 37 Highway Tuttle, OK.

What is the asking price?

The asking price for this property is $850,000.

What are key features of this property?

This property features: 4,000‑square‑foot office building on 0.61 acres; 80 feet of highway frontage; Approximately one‑quarter mile from the Highway 37 and Highway 4 intersection