Flex Space with Service
For Sale
$300,000
0000 W Broadway St, Drumright, OK 74030
Steel building with overhead doors, shop space, and potential office configuration.
Property Size5,000 SF
Lot Size3.82 Acres
Price / SF$60
Days on Market29
Property Features for 0000 W Broadway St
General Information
Standard status
Active
Size
5,000 SF
Lot size
3.82 Acres
Zoning
Urban Commercial
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$2,028
Building Details
Buildings
1
Building Size
5,000 SF
Construction
pre-engineered steel
Listing Agency:
Keller Williams Advantage
(918) 409-1603
Listed By:
BC Flanigan · License #211205
(918) 409-1603
Source:
Exprealty
Added: Jul 23
Changed: Aug 15
Last Checked: Aug 19 at 2:14PM
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 Keller Williams Advantage
Investment Insights
Based on property information with market context.
This commercial flex property comprises 3.82 acres and a 5,000-square-foot pre-engineered steel building. The interior is arranged as a service repair garage with overhead doors and dedicated shop space, along with room for office use. The property is offered in its current as-is condition.
Access to Highway 33 provides a direct connection for the Drumright property. Urban Commercial zoning applies, and the site may accommodate contractor operations, equipment storage, warehouse functions, building trades, or other uses permitted under that designation.
Access to Highway 33 provides a direct connection for the Drumright property. Urban Commercial zoning applies, and the site may accommodate contractor operations, equipment storage, warehouse functions, building trades, or other uses permitted under that designation.
Key Highlights
- 3.82‑acre commercial site in Drumright, OK
- 5,000 SF pre‑engineered steel building
- Current service repair garage configuration
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
$25,853
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
8.62%
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%
$517,060
$517.1K
Cap Rate 7%
$369,329
$369.3K
Cap Rate 9%
$287,256
$287.3K
Market Conditions
NOI Build-Up for 5,000 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
$42.0K $8.40/SF
− Vacancy
−$2.2K −$0.45/SF
EGI
$39.8K $7.95/SF
− OpEx
−$13.9K −$2.78/SF
NOI
$25.9K $5.17/SF
Area
Creek County, OK
Vacancy
5.30%
Lease Rate
$8.40 /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%
$517,060
Cap Rate 7%
$369,329
Cap Rate 9%
$287,256
Alternative Uses
Best Use
Warehouse
$417.0K
$364.8K – $486.5K
NOI $29,187 @ 7.0% cap · market cap 9.73%
Second Best
Flex RnD
$369.3K
$323.2K – $430.9K
NOI $25,853 @ 7.0% cap · market cap 8.62%
Theoretical Best
Office A
$1.23M
$1.08M – $1.43M
NOI $86,069 @ 7.0% cap · market cap 28.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
237
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 74030, OK
3,529
Population
1,675
Households
2.1
Avg Household Size
41
Median Age
12%
College-Educated
89%
High-School Grad
69.4 sq mi
ZIP Area
51
Density / Sq Mi
$42,208
Median Household Income
$37,839
Median Earnings
$523
Median Rent
$90,100
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Steel building with overhead doors, shop space, and potential office configuration.
Where is this flex space located?
The property is located at 0000 W Broadway St Drumright, OK.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 3.82‑acre commercial site in Drumright, OK; 5,000 SF pre‑engineered steel building; Current service repair garage configuration
