Oklahoma City Office Building For
For Sale
Contact for pricing
123 NW 8th St, Oklahoma City, OK 73102
Office building with 13,000 square feet available for sale.
Property Size13,000 SF
Price / SF$315
Days on Market874
Property Features for 123 NW 8th St
General Information
Standard status
Active
Size
13,000 SF
Class
A
Property subtype
Office
Lease Type
NNN
Building Details
Year Built
1980
Stories
2
Listing Agency:
Cushman & Wakefield - Oklahoma City, Oklahoma
Listed By:
Travis Mason · License #OK 157713
(405) 297-9924
Source:
Crexi
Added: Apr 18, 2024
Changed: Sep 5
Last Checked: Sep 8 at 4:57AM
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 - Oklahoma City, Oklahoma
Investment Insights
Based on property information with market context.
This commercial real estate property, identified as an office building, is available for sale. The property offers a total size of 13,000 square feet and is located in Oklahoma City, OK.
Key Highlights
- For sale
- Year built: 1980
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
$184,954
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
4.52%
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%
$3,699,080
$3.7M
Cap Rate 7%
$2,642,200
$2.6M
Cap Rate 9%
$2,055,044
$2.1M
Market Conditions
NOI Build-Up for 13,000 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
$324.5K $24.96/SF
− Vacancy
−$77.9K −$5.99/SF
EGI
$246.6K $18.97/SF
− OpEx
−$61.7K −$4.74/SF
NOI
$185.0K $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%
$3,699,080
Cap Rate 7%
$2,642,200
Cap Rate 9%
$2,055,044
Alternative Uses
Best Use
Office B
$2.64M
$2.31M – $3.08M
NOI $184,954 @ 7.0% cap · market cap 4.52%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.45M
$3.89M – $5.19M
NOI $311,220 @ 7.0% cap · market cap 7.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,244
Businesses Nearby
Explore this area
Business Placement
Demographics for 73102, OK
3,072
Population
1,460
Households
2.1
Avg Household Size
35
Median Age
27%
College-Educated
86%
High-School Grad
0.8 sq mi
ZIP Area
3,840
Density / Sq Mi
$67,542
Median Household Income
$37,067
Median Earnings
$1,253
Median Rent
$212,500
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 - Office building with 13,000 square feet available for sale.
Where is this office building located?
The property is located at 123 NW 8th St Oklahoma City, OK.
What is the asking price?
The asking price for this property is $4,095,000.
What are key features of this property?
This property features: For sale; Year built: 1980
