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7 & 11 NE 6th Street, Oklahoma City, OK 73104
Positioned along the Broadway Avenue corridor in Automobile Alley, near office, retail, and residential development.
Property Size42,886 SF
Price / SF$300
Days on Market4
Property Features for 7 & 11 NE 6th Street
General Information
Standard status
Active
Size
42,886 SF
Class
A
Property subtype
Office
Occupancy
95%
Lease Type
NNN
Additional Details
Highway Access
Yes
Building Details
Year Built
1925
Year Renovated
2019
Buildings
2
Stories
3
Listing Agency:
Cushman & Wakefield Commercial Oklahoma
Listed By:
Micah Sherman · License #OK 176496
(405) 563-5000
Source:
Crexi
Added: Aug 31
Changed: Sep 2
Last Checked: Sep 2 at 2:16PM
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 Cushman & Wakefield Commercial Oklahoma
Investment Insights
Based on property information with market context.
This 42,886-square-foot office building at 7 & 11 NE 6th Street was constructed in 1925. The property is identified as Central Exchange and is located within Automobile Alley, part of the greater Midtown Oklahoma City submarket.
The site sits along the Broadway Avenue corridor, with access to I-235 and connections to Downtown Oklahoma City's Central Business District and the Bricktown Entertainment District. The surrounding area includes a growing mix of office, retail, and residential development, providing a varied commercial and urban context for the property.
The site sits along the Broadway Avenue corridor, with access to I-235 and connections to Downtown Oklahoma City's Central Business District and the Bricktown Entertainment District. The surrounding area includes a growing mix of office, retail, and residential development, providing a varied commercial and urban context for the property.
Key Highlights
- 42,886‑square‑foot office building
- Constructed in 1925
- Located at 7 & 11 NE 6th Street, Oklahoma City, OK 73104
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
$610,148
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
4.74%
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%
$12,202,960
$12.2M
Cap Rate 7%
$8,716,400
$8.7M
Cap Rate 9%
$6,779,422
$6.8M
Market Conditions
NOI Build-Up for 42,886 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
$1.07M $24.96/SF
− Vacancy
−$256.9K −$5.99/SF
EGI
$813.5K $18.97/SF
− OpEx
−$203.4K −$4.74/SF
NOI
$610.1K $14.23/SF
Area
Oklahoma City, OK
Vacancy
24.00%
Lease Rate
$24.96 /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%
$12,202,960
Cap Rate 7%
$8,716,400
Cap Rate 9%
$6,779,422
Alternative Uses
Best Use
Office B
$8.72M
$7.63M – $10.17M
NOI $610,148 @ 7.0% cap · market cap 4.74%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$14.67M
$12.83M – $17.11M
NOI $1,026,691 @ 7.0% cap · market cap 7.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,858
Businesses Nearby
Explore this area
Business Placement
Demographics for 73104, OK
3,545
Population
2,405
Households
1.5
Avg Household Size
29
Median Age
75%
College-Educated
97%
High-School Grad
1.6 sq mi
ZIP Area
2,216
Density / Sq Mi
$69,886
Median Household Income
$59,023
Median Earnings
$1,536
Median Rent
$341,300
Median Home Value
Market
Vacancy Rate% for Office in Oklahoma City, OK
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Positioned along the Broadway Avenue corridor in Automobile Alley, near office, retail, and residential development.
Where is this office building located?
The property is located at 7 & 11 NE 6th Street Oklahoma City, OK.
What is the asking price?
The asking price for this property is $12,865,800.
What are key features of this property?
This property features: 42,886‑square‑foot office building; Constructed in 1925; Located at 7 & 11 NE 6th Street, Oklahoma City, OK 73104
