28-Unit Apartment
For Sale
$3,050,000
710 NW 17th Street, Oklahoma City, OK 73103
All-electric property with updated interiors, exterior improvements, and on-site parking at the front and rear.
Property Size17,216 SF
Days on Market88
Property Features for 710 NW 17th Street
General Information
Standard status
Active
Size
17,216 SF
Total Parking Spaces
40
Property subtype
Residential Income
Additional Details
Multifamily Units
28
Building Details
Building Size
17,216 SF
Year Built
1972
Listing Agency:
TAC Real Estate Services
(405) 990-2550
Listed By:
Teddi Clanton
(405) 990-2550
Source:
Capitalrealestateok
Added: May 11
Changed: Jul 31
Last Checked: Aug 6 at 12:29PM
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 TAC Real Estate Services
Investment Insights
Based on property information with market context.
This 28-unit apartment complex at 700-710 NW 17th Street includes a mix of 1 bed/1 bath and 2 bed/1 bath units. The property is all-electric and has received numerous exterior improvements, while many interior units have been updated with modern finishes and upgrades. On-site parking includes approximately 40 spaces positioned at both the front and rear of the building.
Located in Oklahoma City's Mesta Park district, the property is just minutes from downtown Oklahoma City and provides access to dining, entertainment, shopping, and employment centers. Built in 1972, the complex offers a combination of unit variety, updated interiors, exterior improvements, and established on-site parking.
Located in Oklahoma City's Mesta Park district, the property is just minutes from downtown Oklahoma City and provides access to dining, entertainment, shopping, and employment centers. Built in 1972, the complex offers a combination of unit variety, updated interiors, exterior improvements, and established on-site parking.
Key Highlights
- 28‑unit apartment complex
- Mix of 1 bed/1 bath and 2 bed/1 bath units
- All‑electric property
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
$145,418
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
4.77%
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%
$2,908,360
$2.9M
Cap Rate 7%
$2,077,400
$2.1M
Cap Rate 9%
$1,615,756
$1.6M
Market Conditions
NOI Build-Up for 17,216 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
$278.9K $16.20/SF
− Vacancy
−$14.5K −$0.84/SF
EGI
$264.4K $15.36/SF
− OpEx
−$119.0K −$6.91/SF
NOI
$145.4K $8.45/SF
Area
Oklahoma City, OK
Vacancy
5.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$2,908,360
Cap Rate 7%
$2,077,400
Cap Rate 9%
$1,615,756
Alternative Uses
Best Use
Apartment 5plus
$2.08M
$1.82M – $2.42M
NOI $145,418 @ 7.0% cap · market cap 4.77%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.89M
$5.15M – $6.87M
NOI $412,151 @ 7.0% cap · market cap 13.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
28
Residential units
Location Intelligence
Trade Area within ½ mile
2,016
Businesses Nearby
Explore this area
Business Placement
Demographics for 73103, OK
5,046
Population
3,489
Households
1.4
Avg Household Size
34
Median Age
61%
College-Educated
99%
High-School Grad
1.2 sq mi
ZIP Area
4,205
Density / Sq Mi
$56,934
Median Household Income
$50,055
Median Earnings
$954
Median Rent
$400,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - All-electric property with updated interiors, exterior improvements, and on-site parking at the front and rear.
Where is this apartment building located?
The property is located at 710 NW 17th Street Oklahoma City, OK.
What is the asking price?
The asking price for this property is $3,050,000.
What are key features of this property?
This property features: 28‑unit apartment complex; Mix of 1 bed/1 bath and 2 bed/1 bath units; All‑electric property
