Mixed-Use Property with
New
For Sale
$799,000
8725 NE 23rd Street, Spencer, OK 73141
Four structures combine customer-facing display, office space, a heated mechanical work area, and an industrial bay.
Property Size4,600 SF
Days on Market7
Property Features for 8725 NE 23rd Street
General Information
Standard status
Active
Size
4,600 SF
Property subtype
Retail
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$2,969
Amenities
security system
LED lighting
rolling crane
Building Details
Building Size
4,600 SF
Year Built
2015
Buildings
4
Abandoned
No
Listing Agency:
RE/MAX Cobblestone
Listed By:
Susan Planer Phillips · License #133393
(405) 202-7928
Source:
Stetsonbentley
Added: Oct 7
Changed: Oct 11
Last Checked: Oct 11 at 2:25PM
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 RE/MAX Cobblestone
Investment Insights
Based on property information with market context.
The 2015 property comprises four buildings. Its insulated showroom measures 40 by 100 feet, with 12-foot walls, four private offices, a kitchen, two restrooms, product-display walls, storage, and a roll-up door. A separate 30-by-40-foot mechanical shop has 12-foot walls, insulation, heat, and two roll-up doors. The 24-by-70-foot industrial bay has 12-foot walls, four roll-up doors, and a rotating crane. A portable school building adds another structure for flexible workspace or storage.
Key Highlights
- Four buildings, including a showroom, mechanical shop, industrial bay, and portable school building
- Showroom: 40x100x12, with four private offices, kitchen, two restrooms, and storage
- Mechanical shop: 30X40X12, insulated and heated, with 2 roll‑up doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,553
Cap Rate
6.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$971,060
$971.1K
Cap Rate 7%
$693,614
$693.6K
Cap Rate 9%
$539,478
$539.5K
Market Conditions
NOI Build-Up for 4,600 SF
Gross rent
$76.7K $16.68/SF
− Vacancy
−$7.4K −$1.60/SF
EGI
$69.4K $15.08/SF
− OpEx
−$20.8K −$4.52/SF
NOI
$48.6K $10.56/SF
Area
Oklahoma County, OK
Vacancy
9.60%
Lease Rate
$16.68 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$971,060
Cap Rate 7%
$693,614
Cap Rate 9%
$539,478
Alternative Uses
Best Use
Retail
$693.6K
$606.9K – $809.2K
NOI $48,553 @ 7.0% cap · market cap 6.08%
Second Best
Mixed Use
$594.2K
$519.9K – $693.2K
NOI $41,591 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$958.1K
$838.3K – $1.12M
NOI $67,067 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Explore this area
Business Placement
Demographics for 73141, OK
2,671
Population
1,260
Households
2.1
Avg Household Size
42
Median Age
14%
College-Educated
85%
High-School Grad
10.8 sq mi
ZIP Area
247
Density / Sq Mi
$64,130
Median Household Income
$34,838
Median Earnings
$859
Median Rent
$129,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Four structures combine customer-facing display, office space, a heated mechanical work area, and an industrial bay.
Where is this mixed-use property located?
The property is located at 8725 NE 23rd Street Spencer, OK.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Four buildings, including a showroom, mechanical shop, industrial bay, and portable school building; Showroom: 40x100x12, with four private offices, kitchen, two restrooms, and storage; Mechanical shop: 30X40X12, insulated and heated, with 2 roll‑up doors
