Leased Industrial Flex
For Sale
$3,685,000
2213 NW 178th Street, Edmond, OK 73012
MULTI_FAMILY - Edmond, OK
Property Size16,500 SF
Lot Size0.98 Acres
Price / SF$223.33
Days on Market69
Property Features for 2213 NW 178th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Commercial
Standard status
Active
APN
2213NW178th73012
Size
16,500 SF
Lot size
0.98 Acres
Building Details
Year built
2020
Listing Agency:
The Property Center LLC
(405) 355-2500
Listed By:
Abbie Davis · License #155984
(405) 474-1228
Added: Jun 5
Last Checked: Aug 12 at 8:06AM
MLS# 1232983
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 versatile industrial flex property contains two fully occupied buildings totaling 16,500 square feet. The layout combines warehouse areas with business offices, designed to support a range of industrial and office-oriented operations. Warehouse space includes 22'+ clear heights with flexible floor plans. Tenant-facing amenities include a fully equipped gym and a reservable breakroom/event area intended for company gatherings, team-building activities, training sessions, and private events.
The property is located at 2213 NW 178th Street in Edmond, Oklahoma 73012, within a commercial corridor. The overall zoning is Commercial. The offering is described as 100% leased, reflecting an operational tenant mix that spans industrial, office, and flex-space users.
For investors or owner-operators seeking immediate income from an industrial flex platform, the combination of warehouse clear heights and on-site office space supports multiple business functions under one ownership structure. The included amenity spaces can also be appealing for teams that value workplace facilities beyond standard office buildouts. With both buildings already occupied, the property is positioned as a ready-to-own, multi-building industrial/flex asset with maintained occupancy.
The property is located at 2213 NW 178th Street in Edmond, Oklahoma 73012, within a commercial corridor. The overall zoning is Commercial. The offering is described as 100% leased, reflecting an operational tenant mix that spans industrial, office, and flex-space users.
For investors or owner-operators seeking immediate income from an industrial flex platform, the combination of warehouse clear heights and on-site office space supports multiple business functions under one ownership structure. The included amenity spaces can also be appealing for teams that value workplace facilities beyond standard office buildouts. With both buildings already occupied, the property is positioned as a ready-to-own, multi-building industrial/flex asset with maintained occupancy.
Key Highlights
- 100% leased industrial flex property with 16,500 SF total (two fully occupied buildings)
- Warehouse space with 22'+ clear height and flexible floor plans for a range of industrial uses
- Includes business office space as well as versatile flex‑space for mixed tenant operations
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
$205,975
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
5.59%
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%
$4,119,500
$4.1M
Cap Rate 7%
$2,942,500
$2.9M
Cap Rate 9%
$2,288,611
$2.3M
Market Conditions
NOI Build-Up for 16,500 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
$334.6K $20.28/SF
− Vacancy
−$17.7K −$1.07/SF
EGI
$316.9K $19.21/SF
− OpEx
−$110.9K −$6.72/SF
NOI
$206.0K $12.48/SF
Area
Oklahoma County, OK
Vacancy
5.30%
Lease Rate
$20.28 /SF/Yr
Expense Ratio
35.00%
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%
$4,119,500
Cap Rate 7%
$2,942,500
Cap Rate 9%
$2,288,611
Alternative Uses
Best Use
Flex RnD
$2.94M
$2.57M – $3.43M
NOI $205,975 @ 7.0% cap · market cap 5.59%
Second Best
Office B
$2.67M
$2.33M – $3.11M
NOI $186,599 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$3.44M
$3.01M – $4.01M
NOI $240,565 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
22 ft
Clear height
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
188
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 73012, OK
41,289
Population
16,172
Households
2.6
Avg Household Size
34
Median Age
56%
College-Educated
97%
High-School Grad
34.1 sq mi
ZIP Area
1,211
Density / Sq Mi
$123,528
Median Household Income
$59,000
Median Earnings
$1,779
Median Rent
$295,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Testing — 2409 NW 177th St, Edmond, OK 73012
Frequently Asked Questions
What type of property is this?
Flex space - Two leased industrial flex buildings combine warehouse space with business offices and amenity areas.
Where is this flex space located?
The property is located at 2213 NW 178th Street Edmond, OK.
What is the asking price?
The asking price for this property is $3,685,000.
What are key features of this property?
This property features: 100% leased industrial flex property with 16,500 SF total (two fully occupied buildings); Warehouse space with 22'+ clear height and flexible floor plans for a range of industrial uses; Includes business office space as well as versatile flex‑space for mixed tenant operations
