Renovated Flex Space with
For Sale
$395,000
3700 Trellis Court, Oklahoma City, OK 73107
Commercial Sale, Oklahoma City, OK
Property Size1,324 SF
Price / SF$298.34
Days on Market88
Property Features for 3700 Trellis Court
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
Commercial
Directions
FROM NW 10TH & PORTLAND GO SOUTH ON PORTLAND, BUILIDING IS ON THE SW CORNER PORTLAND AND TRELLIS.
Standard status
Active
APN
3700NONETrellis73107
Size
1,324 SF
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1941
Floors in Building
1
Listing Agency:
Senemar & Associates
(405) 724-7003
Listed By:
Mitra Senemar · License #143837
(405) 834-2158
Added: Jun 8
Changed: Aug 21
Last Checked: Sep 3 at 2:06PM
MLS# 1232915
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 1,324-square-foot flex space has been renovated and configured with 3 to 4 private offices, two restrooms, and two walk-through entrances. The property is zoned Commercial and includes natural gas heating, central air, electric cooling, public water, and public sewer. The stated use potential includes office, professional, retail, service, commercial, and light industrial applications.
An adjacent vacant lot is included in the sale, adding approximately 280 feet of frontage, more or less. The property is directly across from the OSU Education Center and offers access to I-44 and I-40. The building was constructed in 1941.
An adjacent vacant lot is included in the sale, adding approximately 280 feet of frontage, more or less. The property is directly across from the OSU Education Center and offers access to I-44 and I-40. The building was constructed in 1941.
Key Highlights
- 1,324‑square‑foot renovated flex space
- 3 to 4 private offices and 2 restrooms
- Two walk‑through entrances
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
$26,136
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
6.62%
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%
$522,720
$522.7K
Cap Rate 7%
$373,371
$373.4K
Cap Rate 9%
$290,400
$290.4K
Market Conditions
NOI Build-Up for 1,324 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
$39.7K $30.00/SF
− Vacancy
−$2.4K −$1.80/SF
EGI
$37.3K $28.20/SF
− OpEx
−$11.2K −$8.46/SF
NOI
$26.1K $19.74/SF
Area
Oklahoma City, OK
Vacancy
6.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
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%
$522,720
Cap Rate 7%
$373,371
Cap Rate 9%
$290,400
Alternative Uses
Best Use
Retail
$373.4K
$326.7K – $435.6K
NOI $26,136 @ 7.0% cap · market cap 6.62%
Second Best
Office B
$269.1K
$235.5K – $314.0K
NOI $18,837 @ 7.0% cap · market cap 4.77%
Theoretical Best
Specialty Retail
$452.8K
$396.2K – $528.3K
NOI $31,697 @ 7.0% cap · market cap 8.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
374
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 73107, OK
26,318
Population
12,621
Households
2.1
Avg Household Size
34
Median Age
31%
College-Educated
80%
High-School Grad
7.6 sq mi
ZIP Area
3,463
Density / Sq Mi
$58,428
Median Household Income
$38,753
Median Earnings
$1,014
Median Rent
$143,000
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?
Flex space - Renovated commercial space includes private offices, two entrances, restrooms, and access to public water and sewer.
Where is this flex space located?
The property is located at 3700 Trellis Court Oklahoma City, OK.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 1,324‑square‑foot renovated flex space; 3 to 4 private offices and 2 restrooms; Two walk‑through entrances
