Court Plaza | Value-Add Office | Downtown OKC | 228 Robert S Kerr Ave
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Court Plaza | Value-Add Office | Downtown OKC 228 Robert S Kerr Ave
78,244 SF 41% Leased Office Building Online Auction Sale Oklahoma City, OK 73102
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Investment Highlights
- Take advantage of the prestigious opportunity to acquire an investment-grade office tower amid Oklahoma City’s downtown skyline.
- Currently 40.55% occupied, this premier asset offers substantial potential for long-term stabilization and revenue upside.
- Court Plaza is within walking distance to a wealth of amenities as well as two key stops for the OKC Streetcar.
- Established in the heart of the Business District, Court Plaza provides the perfect professional backdrop for its diverse tenant roster.
- New ownership can add significant value through continued lease up of vacant units, rent escalations, and lease renewals.
- Oklahoma City has a thriving and diverse economy reinforced by strong population and employment growth.
Executive Summary
Court Plaza presents investors with the esteemed opportunity to acquire this beautifully appointed multi-tenant office building in the heart of Oklahoma City, Oklahoma. Located at 228 Robert S Kerr Avenue, this asset has been professionally maintained throughout. The tower soars 10 floors high and comprises 78,244 square feet of rentable office space. Court Plaza showcases highly adaptable floor plans and suite layouts, providing endless potential for tenants across a variety of industries.
At 40.55% occupancy, Court Plaza offers incredible value-add opportunities through increasing occupancy and renewing existing tenants at market rates. New ownership will profit from existing rental income while simultaneously devising revenue strategies and leasing initiatives to increase cash flow.
Oklahoma City is a bustling metropolitan with a thriving economy and world-class urban amenities. Traversed by Interstates 35, 40, 44, 235, and 240, the city is easily accessible for commuters throughout the Great Plains region. The economy runs on the back of the energy industry, with several large companies calling the city home, including Devon Energy and Chesapeake Energy. Oklahoma City is diversifying its economic fold year over year, illustrating strong employment growth in the aerospace, technology, and manufacturing sectors. Large and small corporations are becoming increasingly interested in the city because of its pro-business environment, quality labor force, and economic incentives.
Property tours are available by appointment only. Please contact the listing broker to schedule.
At 40.55% occupancy, Court Plaza offers incredible value-add opportunities through increasing occupancy and renewing existing tenants at market rates. New ownership will profit from existing rental income while simultaneously devising revenue strategies and leasing initiatives to increase cash flow.
Oklahoma City is a bustling metropolitan with a thriving economy and world-class urban amenities. Traversed by Interstates 35, 40, 44, 235, and 240, the city is easily accessible for commuters throughout the Great Plains region. The economy runs on the back of the energy industry, with several large companies calling the city home, including Devon Energy and Chesapeake Energy. Oklahoma City is diversifying its economic fold year over year, illustrating strong employment growth in the aerospace, technology, and manufacturing sectors. Large and small corporations are becoming increasingly interested in the city because of its pro-business environment, quality labor force, and economic incentives.
Property tours are available by appointment only. Please contact the listing broker to schedule.
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
- Miscellaneous
Market Analytics Click Here to Access
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Market Sale Price per SF
Oklahoma City - OK USA
Market Cap Rate
Oklahoma City - OK USA
Market Sale Price per SF by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Cap Rate by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Sale Price per SF Distribution
Market Cap Rate Distribution
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Property Type
Office
Building Size
78,244 SF
Building Class
B
Year Built
1924
Percent Leased
41%
Tenancy
Multiple
Number of Floors
10
Typical Floor Size
7,824 SF
Slab to Slab
11 ft
Building FAR
7.81
Land Acres
0.23 AC
Opportunity Zone
Yes
Amenities
- Restaurant
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
- 1st Fl-Ste 150
- 1,412 SF
- Office
- -
- Now
- 2nd Fl-Ste 200
- 3,266 SF
- Office
- -
- Now
- 2nd Fl-Ste 210
- 3,756 SF
- Office
- -
- Now
- 2nd Fl-Ste 250
- 2,418 SF
- Office
- -
- Now
This 10-story building is conveniently located in the heart of downtown on the corner of Robert S. Kerr and N. Harvey. 228 Robert S. Kerr Located in the heart of the downtown legal district; within walking distance of the various courts, Court Plaza offers upgraded amenities at below market rates.
This 10-story building is conveniently located in the heart of downtown on the corner of Robert S. Kerr and N. Harvey. 228 Robert S. Kerr Located in the heart of the downtown legal district; within walking distance of the various courts, Court Plaza offers upgraded amenities at below market rates.
- 3rd Fl-Ste 370
- 844 SF
- Office
- -
- Now
This 10-story building is conveniently located in the heart of downtown on the corner of Robert S. Kerr and N. Harvey. 228 Robert S. Kerr Located in the heart of the downtown legal district; within walking distance of the various courts, Court Plaza offers upgraded amenities at below market rates.
- 5th Fl-Ste 515
- 1,065 SF
- Office
- -
- Now
- 6th Fl-Ste 600
- 2,232 SF
- Office
- -
- 30 Days
- 6th Fl-Ste 650
- 2,129 SF
- Office
- -
- Now
- 7th Fl-Ste 750
- 1,335 SF
- Office
- -
- Now
- 8th Fl-Ste 815
- 1,219 SF
- Office
- -
- Now
- 8th Fl-Ste 820
- 1,028 SF
- Office
- -
- 30 Days
- 8th Fl-Ste 830
- 697 SF
- Office
- -
- 30 Days
- 8th Fl-Ste 836
- 686 SF
- Office
- -
- Now
- 8th Fl-Ste 840
- 1,070 SF
- Office
- -
- 30 Days
- 8th Fl-Ste 850
- 1,090 SF
- Office
- -
- Now
- 8th Fl-Ste 870
- 1,147 SF
- Office
- -
- Now
- 9th Fl-Ste 900
- 1,163 SF
- Office
- Partial Build-Out
- Now
- 9th Fl-Ste 905
- 1,279 SF
- Office
- -
- Now
- 10th Fl-Ste 1000
- 7,500 SF
- Office
- -
- Now
| Space | Size | Space Use | Condition | Available |
| 1st Fl-Ste 150 | 1,412 SF | Office | - | Now |
| 2nd Fl-Ste 200 | 3,266 SF | Office | - | Now |
| 2nd Fl-Ste 210 | 3,756 SF | Office | - | Now |
| 2nd Fl-Ste 250 | 2,418 SF | Office | - | Now |
| 3rd Fl-Ste 340 | 1,610 SF | Office | - | 30 Days |
| 3rd Fl-Ste 350 | 1,622 SF | Office | - | 30 Days |
| 3rd Fl-Ste 370 | 844 SF | Office | - | Now |
| 4th Fl-Ste 400 | 7,000 SF | Office | - | Now |
| 5th Fl-Ste 515 | 1,065 SF | Office | - | Now |
| 6th Fl-Ste 600 | 2,232 SF | Office | - | 30 Days |
| 6th Fl-Ste 650 | 2,129 SF | Office | - | Now |
| 7th Fl-Ste 750 | 1,335 SF | Office | - | Now |
| 8th Fl-Ste 815 | 1,219 SF | Office | - | Now |
| 8th Fl-Ste 820 | 1,028 SF | Office | - | 30 Days |
| 8th Fl-Ste 830 | 697 SF | Office | - | 30 Days |
| 8th Fl-Ste 836 | 686 SF | Office | - | Now |
| 8th Fl-Ste 840 | 1,070 SF | Office | - | 30 Days |
| 8th Fl-Ste 850 | 1,090 SF | Office | - | Now |
| 8th Fl-Ste 870 | 1,147 SF | Office | - | Now |
| 9th Fl-Ste 900 | 1,163 SF | Office | Partial Build-Out | Now |
| 9th Fl-Ste 905 | 1,279 SF | Office | - | Now |
| 10th Fl-Ste 1000 | 7,500 SF | Office | - | Now |
1st Fl-Ste 150
| Size |
| 1,412 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
2nd Fl-Ste 200
| Size |
| 3,266 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
2nd Fl-Ste 210
| Size |
| 3,756 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
2nd Fl-Ste 250
| Size |
| 2,418 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
3rd Fl-Ste 340
| Size |
| 1,610 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| 30 Days |
3rd Fl-Ste 350
| Size |
| 1,622 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| 30 Days |
3rd Fl-Ste 370
| Size |
| 844 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
4th Fl-Ste 400
| Size |
| 7,000 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
5th Fl-Ste 515
| Size |
| 1,065 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
6th Fl-Ste 600
| Size |
| 2,232 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| 30 Days |
6th Fl-Ste 650
| Size |
| 2,129 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
7th Fl-Ste 750
| Size |
| 1,335 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
8th Fl-Ste 815
| Size |
| 1,219 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
8th Fl-Ste 820
| Size |
| 1,028 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| 30 Days |
8th Fl-Ste 830
| Size |
| 697 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| 30 Days |
8th Fl-Ste 836
| Size |
| 686 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
8th Fl-Ste 840
| Size |
| 1,070 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| 30 Days |
8th Fl-Ste 850
| Size |
| 1,090 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
8th Fl-Ste 870
| Size |
| 1,147 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
9th Fl-Ste 900
| Size |
| 1,163 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
9th Fl-Ste 905
| Size |
| 1,279 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
10th Fl-Ste 1000
| Size |
| 7,500 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
3rd Fl-Ste 340
| Size | 1,610 SF |
| Space Use | Office |
| Condition | - |
| Available | 30 Days |
This 10-story building is conveniently located in the heart of downtown on the corner of Robert S. Kerr and N. Harvey. 228 Robert S. Kerr Located in the heart of the downtown legal district; within walking distance of the various courts, Court Plaza offers upgraded amenities at below market rates.
3rd Fl-Ste 350
| Size | 1,622 SF |
| Space Use | Office |
| Condition | - |
| Available | 30 Days |
This 10-story building is conveniently located in the heart of downtown on the corner of Robert S. Kerr and N. Harvey. 228 Robert S. Kerr Located in the heart of the downtown legal district; within walking distance of the various courts, Court Plaza offers upgraded amenities at below market rates.
4th Fl-Ste 400
| Size | 7,000 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
This 10-story building is conveniently located in the heart of downtown on the corner of Robert S. Kerr and N. Harvey. 228 Robert S. Kerr Located in the heart of the downtown legal district; within walking distance of the various courts, Court Plaza offers upgraded amenities at below market rates.
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Walk Score ®
Very Walkable (81)
Transit Score ®
Excellent Transit (73)
Bike Score ®
Very Bikeable (77)
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
8,052
80,553
218,598
2020 Population
7,384
73,151
209,927
2029 Population
8,380
83,956
225,640
2024-2029 Projected Population Growth
4.1%
4.2%
3.2%
Daytime Employees
49,561
134,410
217,512
Total Businesses
4,784
12,246
21,121
Average Household Income
$83,188
$64,753
$59,597
Median Household Income
$58,737
$42,600
$43,893
Total Consumer Spending
$115.1M
$833.8M
$2.1B
Median Age
33.9
34.4
34.4
2024 Households
4,740
34,635
87,848
Percent College Degree or Above
28%
15%
12%
Average Home Value
$387,915
$214,606
$177,649
$ values in USD
PROPERTY TAXES
| Parcel Number | 010015284 | Improvements Assessment | £222,571 |
| Land Assessment | £17,259 | Total Assessment | £239,831 |
PROPERTY TAXES
Parcel Number
010015284
Land Assessment
£17,259
Improvements Assessment
£222,571
Total Assessment
£239,831
Sale Advisor
Sale Advisor
Mark Beffort, Chief Executive Officer
(405) 840-1500 x4757
Contact
Mark Beffort began his commercial real estate career and in-depth involvement in Oklahoma City in 1985, after graduating from Washburn University. After several years as a successful commercial real estate broker, Mark began assisting several private and public entities to build a strategic real estate portfolio. Mr. Beffort’s leadership has driven Robinson Park to successfully manage over 12 million square feet, worth in excess of $2 billion, and the firm has grown to cover eight markets, including Oklahoma City and Tulsa, Oklahoma; Rogers, Arkansas; Indianapolis, Indiana; Winston-Salem, North Carolina; Kansas City, Missouri; Columbus, Ohio; and McKinney, Texas. He is personally invested in over 70% of the company’s current portfolio, and he expects his real estate investments platform will grow to well over $4 billion in value in the next five years.
Mr. Beffort actively supports the advancement of young entrepreneurs through various avenues, including direct involvement in the development of an entrepreneurial business program at Washburn University and various organizations throughout Oklahoma City.
Mr. Beffort actively supports the advancement of young entrepreneurs through various avenues, including direct involvement in the development of an entrepreneurial business program at Washburn University and various organizations throughout Oklahoma City.
About the Auction Platform
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial property. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
Auction Contact
Amen Almukhtar
Contact
Auctioneer License:
Ten-X Arlene Richardson RE Brkr 149227
-
Mark Beffort -
Newmark Robinson Park
(405) 840-1500
x4757
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VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
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Court Plaza | Value-Add Office | Downtown OKC | 228 Robert S Kerr Ave
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Court Plaza | Value-Add Office | Downtown OKC | 228 Robert S Kerr Ave
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