Standalone Multi-Unit Office
For Sale
$500,000
9422 Westgate Road, Oklahoma City, OK 73162
Private entrances and separate utilities support flexible occupancy across the building.
Property Size3,070 SF
Price / SF$162.87
Days on Market17
Property Features for 9422 Westgate Road
General Information
Standard status
Active
Size
3,070 SF
Property subtype
Office
Occupancy
75%
Additional Details
Utilities to Site
Yes
Office Units
4
Taxes and HOA fees
Annual Taxes
$2,658
Amenities
3
Concrete Driveway.
Building Details
Year Built
1981
Buildings
1
Building Size
3,070 SF
Tenancy
Multi
Listing Agency:
Metro First Realty
(405) 476-6872
Listed By:
Angela Phipps
(405) 476-6872
Source:
Xome
Added: Aug 14
Changed: Aug 28
Last Checked: Aug 29 at 7:38AM
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 Metro First Realty
Investment Insights
Based on property information with market context.
This standalone office building contains 3,070 square feet arranged across four individual units. Each unit has a private entrance and separate utilities, while internal connections allow the spaces to function together as one office or remain divided for multi-tenant occupancy. The configuration supports professional office users, including medical, legal, financial, real estate, and other service-oriented businesses.
Built in 1981, the property is currently 75% leased and includes long-standing tenants. A concrete driveway provides on-site vehicular access, and the Westgate Road address places the building in Oklahoma City’s Brookhaven West area.
Built in 1981, the property is currently 75% leased and includes long-standing tenants. A concrete driveway provides on-site vehicular access, and the Westgate Road address places the building in Oklahoma City’s Brookhaven West area.
Key Highlights
- 3,070‑square‑foot standalone office building
- Four individual units with private entrances
- Separate utilities for each unit
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
$37,798
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
7.56%
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%
$755,960
$756.0K
Cap Rate 7%
$539,971
$540.0K
Cap Rate 9%
$419,978
$420.0K
Market Conditions
NOI Build-Up for 3,070 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
$66.3K $21.60/SF
− Vacancy
−$15.9K −$5.18/SF
EGI
$50.4K $16.42/SF
− OpEx
−$12.6K −$4.10/SF
NOI
$37.8K $12.31/SF
Area
ZIP 73162
Vacancy
24.00%
Lease Rate
$21.60 /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%
$755,960
Cap Rate 7%
$539,971
Cap Rate 9%
$419,978
Alternative Uses
Best Use
Office B
$540.0K
$472.5K – $630.0K
NOI $37,798 @ 7.0% cap · market cap 7.56%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.24M
$1.08M – $1.44M
NOI $86,487 @ 7.0% cap · market cap 17.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
75%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
550
Businesses Nearby
Explore this area
Business Placement
Demographics for 73162, OK
28,867
Population
12,454
Households
2.3
Avg Household Size
44
Median Age
47%
College-Educated
95%
High-School Grad
7.1 sq mi
ZIP Area
4,066
Density / Sq Mi
$89,984
Median Household Income
$48,451
Median Earnings
$1,147
Median Rent
$234,800
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 - Private entrances and separate utilities support flexible occupancy across the building.
Where is this office building located?
The property is located at 9422 Westgate Road Oklahoma City, OK.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 3,070‑square‑foot standalone office building; Four individual units with private entrances; Separate utilities for each unit
