Standalone Four-Unit Office
New
For Sale
$500,000
9422 Westgate Road, Oklahoma City, OK 73162
SINGLE_FAMILY - Oklahoma City, OK
Property Size3,070 SF
Lot Size0.32 Acres
Price / SF$162.87
Days on Market1
Property Features for 9422 Westgate Road
General Information
Property type
Residential
Property subtype
Office
Zoning
Commercial
Accessibility
Accessible Approach with Ramp
Directions
Take Council Rd west. Turn right onto NW 94th St.Continue on NW 94th St. Turn right onto Westgate Rd. 9422 Westgate Rd will be on your left.
Standard status
Active
APN
9422NONEWestgateA,B,C,D73162
Size
3,070 SF
Lot size
0.32 Acres
Utilities
Heating system
Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1981
Floors in Building
1
Listing Agency:
Metro First Realty
(405) 242-4004
Listed By:
Angela Phipps
(405) 476-6872
Added: Aug 16
Last Checked: Aug 16 at 4:06PM
MLS# 1244593
Copyright © 2026 MLSOK, 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 standalone office building contains 3,070 square feet arranged across four individual units. Each unit has a private entrance and separate utilities, while interior connections allow the suites to function as one larger office or remain divided for separate occupancy. The property is zoned Commercial and was built in 1981.
Current occupancy is 75%, with long-standing tenants in place. Building systems include electric heating and central air conditioning, with public water service. An accessible approach with ramp provides an additional site feature. The property is located at 9422 Westgate Road in Oklahoma City, Oklahoma, on a 0.3214-acre lot.
Current occupancy is 75%, with long-standing tenants in place. Building systems include electric heating and central air conditioning, with public water service. An accessible approach with ramp provides an additional site feature. The property is located at 9422 Westgate Road in Oklahoma City, Oklahoma, on a 0.3214-acre lot.
Key Highlights
- 3,070‑square‑foot standalone office building on a 0.3214‑acre lot
- Four individual units with private entrances and separate utilities
- Interior connections allow combined or separate office configurations
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
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 - Connected office suites can operate together or independently, with separate entrances and utilities for each unit.
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 on a 0.3214‑acre lot; Four individual units with private entrances and separate utilities; Interior connections allow combined or separate office configurations
