Flex Space with Overhead
For Sale
$599,000
100 NE 24th Street, Oklahoma City, OK 73105
Commercial Sale, Oklahoma City, OK
Property Size8,613 SF
Lot Size0.31 Acres
Price / SF$69.55
Days on Market56
Property Features for 100 NE 24th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Industrial
Directions
From NE 23rd street, turn north on Oklahoma Avenue and property is the SE corner of NE 24 th and Oklahoma ave.
Standard status
Active
APN
100NE24th73105
Size
8,613 SF
Lot size
0.31 Acres
Building Details
Year built
1957
Listing Agency:
Metro First Realty
(405) 242-4004
Listed By:
Louis Gonzales · License #132506
(405) 401-9542
Added: Aug 3
Changed: Sep 11
Last Checked: Sep 27 at 8:06PM
MLS# 1242338
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 8,613-square-foot flex property includes an original concrete block building constructed in 1957 and a metal addition completed in and around 1981. The addition provides large open areas, tall ceilings, two commercial overhead doors, and a makeshift mezzanine. The buildings have been used for appliance repair and currently contain surplus business equipment, supplies, and materials that are slated for removal by the new owner.
The 0.3076-acre property is located at 100 NE 24th Street in Oklahoma City, Oklahoma, with Industrial zoning. Its combination of warehouse-style space, overhead loading access, and multiple building sections provides a functional base for a range of commercial operations supported by the existing improvements.
The 0.3076-acre property is located at 100 NE 24th Street in Oklahoma City, Oklahoma, with Industrial zoning. Its combination of warehouse-style space, overhead loading access, and multiple building sections provides a functional base for a range of commercial operations supported by the existing improvements.
Key Highlights
- 8,613‑square‑foot flex property on 0.3076 acres
- Industrial zoning at 100 NE 24th Street, Oklahoma City, OK 73105
- Metal addition includes 2 commercial overhead doors
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
$52,363
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
8.74%
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%
$1,047,260
$1.0M
Cap Rate 7%
$748,043
$748.0K
Cap Rate 9%
$581,811
$581.8K
Market Conditions
NOI Build-Up for 8,613 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
$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 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%
$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
NOI $116,089 @ 7.0% cap · market cap 19.38%
Second Best
Warehouse
$973.9K
$852.2K – $1.14M
NOI $68,174 @ 7.0% cap · market cap 11.38%
Theoretical Best
Specialty Retail
$2.95M
$2.58M – $3.44M
NOI $206,195 @ 7.0% cap · market cap 34.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Similar Off Market Nearby
- Prairie Gypsies Catering Co — 411 NW 30th St, Oklahoma City, OK 73118
Frequently Asked Questions
What type of property is this?
Flex space - Industrial-zoned property combines open warehouse areas with overhead access and a small mezzanine.
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‑foot flex property on 0.3076 acres; Industrial zoning at 100 NE 24th Street, Oklahoma City, OK 73105; Metal addition includes 2 commercial overhead doors
