Building Details

Building Size 8,613 SF

Year Built 1957

Buildings 2

Construction concrete block and metal

Listing Agency: Metro First Realty m***@metrofirstrealty.com Show Phone

Listed By: Louis Gonzales · License #132506 Show Phone

Source: Carlallsrealestate

Added: Aug 3 Changed: Oct 24 Last Checked: Oct 23 at 5:49PM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This 8,613-square-foot flex property includes an original white concrete-block building and a metal Star addition. The original structure dates to 1957, while the addition was constructed in and around 1981. The metal building features two commercial overhead doors, tall ceilings, and broad open interior areas, along with a makeshift mezzanine.

The property is zoned Industrial. Surplus business equipment, supplies, and materials currently stored in the buildings are to be removed for the new owner.

Key Highlights

• 8,613 square feet of flex space
• Industrial zoning
• Original white concrete‑block building dates to 1957

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$52,363

Cap Rate

8.74%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,047,260 $1.0M

Cap Rate 7%

$748,043 $748.0K

Cap Rate 9%

$581,811 $581.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,613 SF

Gross rent

$77.5K $9.00/SF

− Vacancy

−$2.7K −$0.32/SF

EGI

$74.8K $8.69/SF

− OpEx

−$22.4K −$2.61/SF

NOI

$52.4K $6.08/SF

Area

Oklahoma City, OK

Vacancy

3.50%

Lease Rate

$9.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,047,260

Cap Rate 7%

$748,043

Cap Rate 9%

$581,811

Alternative Uses

Best Use

Flex RnD

$1.66M

$1.45M – $1.93M (±1% cap)

NOI $116,089 @ 7.0% cap · market cap 19.38%

Second Best

Warehouse

$973.9K

$852.2K – $1.14M (±1% cap)

NOI $68,174 @ 7.0% cap · market cap 11.38%

Theoretical Best

Specialty Retail

$2.95M

$2.58M – $3.44M (±1% cap)

NOI $206,195 @ 7.0% cap · market cap 34.42%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Auto Repair Shop Pharmacy Garden Center Kitchen & Bath Showroom Auto Parts Store Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

872

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 73105, OK

5,835

Population

3,416

Households

1.7

Avg Household Size

35

Median Age

39%

College-Educated

94%

High-School Grad

4.5 sq mi

ZIP Area

1,297

Density / Sq Mi

$48,314

Median Household Income

$32,614

Median Earnings

$1,091

Median Rent

$162,800

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Industrial zoning accompanies open interior areas and tall ceilings in the metal addition.

Where is this flex space located?

The property is located at 100 NE 24th Street Oklahoma City, OK.

What is the asking price?

The asking price for this property is $599,000.

What are key features of this property?

This property features: 8,613 square feet of flex space; Industrial zoning; Original white concrete‑block building dates to 1957