Flex Property with Office and
For Sale
$325,000
514 E Will Rogers Boulevard, Claremore, OK 74017
Combined workspace includes private offices, storage, gated vehicle parking, and a large garage door.
Property Size1,800 SF
Price / SF$180.56
Days on Market15
Property Features for 514 E Will Rogers Boulevard
General Information
Standard status
Active
Size
1,800 SF
Additional Details
Highway Access
Yes
Drive-In Doors
1
Building Details
Year Built
1975
Listing Agency:
Keller Williams Premier
(918) 724-0884
Listed By:
Kim Cox · License #181478
Source:
Alloverok
Added: Aug 15
Changed: Aug 28
Last Checked: Aug 28 at 12:44PM
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 Keller Williams Premier
Investment Insights
Based on property information with market context.
This 1,800-square-foot flex property combines a front office area with two separate private offices and an attached shop. The shop provides substantial storage capacity, includes a bathroom, and can be entered either through the office or from outside using the large garage door. HVAC was replaced after the tornado of 2024.
The property is located at 514 E Will Rogers Boulevard in Claremore, on the east side of the city near Will Rogers and Hwy 20. Exterior parking on the east side of the building accommodates vehicles or trailers, with access through a locked metal gate at the front of the property.
The property is located at 514 E Will Rogers Boulevard in Claremore, on the east side of the city near Will Rogers and Hwy 20. Exterior parking on the east side of the building accommodates vehicles or trailers, with access through a locked metal gate at the front of the property.
Key Highlights
- 1,800‑square‑foot flex property with office and attached shop
- Front office area plus two separate private offices
- Shop includes substantial storage space and a bathroom
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
$23,739
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
7.30%
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%
$474,780
$474.8K
Cap Rate 7%
$339,129
$339.1K
Cap Rate 9%
$263,767
$263.8K
Market Conditions
NOI Build-Up for 1,800 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
$35.2K $19.56/SF
− Vacancy
−$3.6K −$1.98/SF
EGI
$31.7K $17.58/SF
− OpEx
−$7.9K −$4.40/SF
NOI
$23.7K $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%
$474,780
Cap Rate 7%
$339,129
Cap Rate 9%
$263,767
Alternative Uses
Best Use
Office B
$339.1K
$296.7K – $395.7K
NOI $23,739 @ 7.0% cap · market cap 7.30%
Second Best
Warehouse
$175.3K
$153.4K – $204.6K
NOI $12,274 @ 7.0% cap · market cap 3.78%
Theoretical Best
Specialty Retail
$450.8K
$394.5K – $526.0K
NOI $31,558 @ 7.0% cap · market cap 9.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,162
Businesses Nearby
Under-served
Demand for This Use
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?
Flex space - Combined workspace includes private offices, storage, gated vehicle parking, and a large garage door.
Where is this flex space located?
The property is located at 514 E Will Rogers Boulevard Claremore, OK.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 1,800‑square‑foot flex property with office and attached shop; Front office area plus two separate private offices; Shop includes substantial storage space and a bathroom
