Office Building with
For Sale
$240,000
5000 S Hiwassee Road, Choctaw, OK 73020
Land, Choctaw, OK
Property Size1,500 SF
Lot Size3.39 Acres
Price / SF$160
Days on Market170
Property Features for 5000 S Hiwassee Road
General Information
Property type
Land
Property subtype
Other
Zoning
Agriculture
Lot features
Interior Lot, Rural
Elementary school
Barnes ES
Middle school
Carl Albert MS
High school
Carl Albert HS
Elementary school district
Midwest City/Del City
Middle school district
Midwest City/Del City
High school district
Midwest City/Del City
Directions
From SE 44th Street & Hiwassee go South to property
Standard status
Active
APN
5000SHiwassee73020
Lot size
3.39 Acres
Utilities
Sewer type
Septic Tank
Water source
Private
Listing Agency:
King Real Estate Group
(405) 739-0550
Listed By:
Karen King · License #122366
(405) 834-1057
Added: Mar 16
Changed: Aug 19
Last Checked: Sep 1 at 8:06PM
MLS# 1219380
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 1500 SF building constructed in 1983. The improvements were used for insurance office operations and are equipped with a Mr Cool Mini-Split system for heating and cooling. The building is served by private water from a well and a septic tank, with total electric service.
The property fronts S Hiwassee Road for 449 feet in Choctaw, Oklahoma. Agriculture zoning applies, and a small portion of the northeast corner lies within the Flood Zone.
The property fronts S Hiwassee Road for 449 feet in Choctaw, Oklahoma. Agriculture zoning applies, and a small portion of the northeast corner lies within the Flood Zone.
Key Highlights
- 1500 SF office building constructed in 1983
- 449' frontage on S Hiwassee Road
- Agriculture zoning
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
$16,964
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
7.07%
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%
$339,280
$339.3K
Cap Rate 7%
$242,343
$242.3K
Cap Rate 9%
$188,489
$188.5K
Market Conditions
NOI Build-Up for 1,500 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
$25.0K $16.68/SF
− Vacancy
−$2.4K −$1.60/SF
EGI
$22.6K $15.08/SF
− OpEx
−$5.7K −$3.77/SF
NOI
$17.0K $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%
$339,280
Cap Rate 7%
$242,343
Cap Rate 9%
$188,489
Alternative Uses
Best Use
Office B
$242.3K
$212.1K – $282.7K
NOI $16,964 @ 7.0% cap · market cap 7.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$312.4K
$273.4K – $364.5K
NOI $21,870 @ 7.0% cap · market cap 9.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3
Businesses Nearby
Explore this area
Business Placement
Demographics for 73020, OK
24,627
Population
9,857
Households
2.5
Avg Household Size
42
Median Age
33%
College-Educated
92%
High-School Grad
61.6 sq mi
ZIP Area
400
Density / Sq Mi
$99,108
Median Household Income
$54,688
Median Earnings
$1,363
Median Rent
$248,700
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 - Existing office improvements offer private water, septic service, and electric heating and cooling.
Where is this office building located?
The property is located at 5000 S Hiwassee Road Choctaw, OK.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: 1500 SF office building constructed in 1983; 449' frontage on S Hiwassee Road; Agriculture zoning
