Office Building on
For Sale
$240,000
5000 S Hiwassee Road, Choctaw, OK 73020
Freestanding office property with well, septic, electric service, and mini-split heating and cooling.
Property Size1,500 SF
Lot Size3.38 Acres
Price / SF$160
Days on Market169
Property Features for 5000 S Hiwassee Road
General Information
Standard status
Active
Size
1,500 SF
Lot size
3.38 Acres
Property subtype
Unimproved Land
Site & Location
Road Frontage
449 ft
Road Access
Yes
Utilities to Site
Yes
Building Details
Year Built
1983
Buildings
1
Building Size
1,500 SF
Listing Agency:
King Real Estate Group
(405) 834-1057
Listed By:
Karen King · License #122366
Source:
Kw
Added: Mar 17
Changed: Aug 31
Last Checked: Aug 31 at 12:31AM
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 King Real Estate Group
Investment Insights
Based on property information with market context.
This office property includes a 1,500-square-foot building constructed in 1983 on a 3.38-acre tract. The building previously operated as an insurance office and is equipped with a Mr. Cool mini-split system for heating and cooling. The property has total electric service, along with an existing well and septic system.
The site provides 449 feet of frontage along Hiwassee Road. A small portion of the northeast corner lies within the flood zone. The combination of an existing office building, acreage, and established site utilities provides a straightforward commercial property profile.
The site provides 449 feet of frontage along Hiwassee Road. A small portion of the northeast corner lies within the flood zone. The combination of an existing office building, acreage, and established site utilities provides a straightforward commercial property profile.
Key Highlights
- 3.38‑acre tract with a 1,500 SF office building
- Building constructed in 1983
- 449' frontage on Hiwassee Road
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
5
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
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Frequently Asked Questions
What type of property is this?
Office building - Freestanding office property with well, septic, electric service, and mini-split 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: 3.38‑acre tract with a 1,500 SF office building; Building constructed in 1983; 449' frontage on Hiwassee Road
