Flex Space with Office and
For Sale
$325,000
514 E Will Rogers Boulevard, Claremore, OK 74017
COMMERCIAL - Claremore, OK
Property Size1,800 SF
Lot Size0.13 Acres
Price / SF$180.56
Days on Market48
Property Features for 514 E Will Rogers Boulevard
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Commercial
Interior features
High Speed Internet
Exterior features
Lighting
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 the intersection of Lynn Riggs and Will Rogers Blvd., head east on Will Rogers for .7 miles. Destination will be on the North side of the street right next to Cafe Flores.
Standard status
Active
Size
1,800 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
S 69' E 30' LOT 4 & S 69' W 30' LOT 3 BLOCK 98 CLAREMORE O T
Tax Annual Amount
587
Legal Description
S 69' E 30' LOT 4 & S 69' W 30' LOT 3 BLOCK 98 CLAREMORE O T
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1975
Building materials
Concrete
Roof type
Metal
Listing Agency:
Keller Williams Premier · Keller Williams Realty
(918) 272-0809
Listed By:
Kim Cox · License #181478
(918) 724-0884
Added: Jun 25
Changed: Aug 4
Last Checked: Aug 11 at 7:06PM
MLS# 2623459
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 1,800-square-foot flex property, built in 1975, combines front-office functionality with an attached shop. The entry opens to a large office area, with two private offices positioned nearby. The shop provides substantial storage, a bathroom, and two points of access: a large exterior garage door and an interior connection to the office area. Concrete construction, a metal roof, central heating, central air, high-speed internet, and exterior lighting are included. HVAC was replaced following the 2024 tornado.
The property is located at 514 E Will Rogers Boulevard in Claremore, near Will Rogers and Hwy 20. Outdoor parking on the east side accommodates vehicles or trailers and is reached through a locked metal gate at the front. Commercial zoning supports the property's office-and-shop configuration.
The property is located at 514 E Will Rogers Boulevard in Claremore, near Will Rogers and Hwy 20. Outdoor parking on the east side accommodates vehicles or trailers and is reached through a locked metal gate at the front. Commercial zoning supports the property's office-and-shop configuration.
Key Highlights
- 1,800 SF flex property on a 0.127‑acre lot
- Large front office plus two separate private offices
- Attached shop with storage, bathroom, and large garage door
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
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
107
Businesses Nearby
Balanced
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 - Commercially zoned property combines dedicated office areas with an attached shop, storage, gated outdoor parking, and central HVAC.
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 SF flex property on a 0.127‑acre lot; Large front office plus two separate private offices; Attached shop with storage, bathroom, and large garage door
