Flex Space Near Interstate
For Sale
$375,000
10124 SE 29th St, Oklahoma City, OK 73130
Commercial property along SE 29th Street with convenient connections to I-40 and I-240.
Property Size1,880 SF
Price / SF$199.47
Days on Market43
Property Features for 10124 SE 29th St
General Information
Standard status
Active
Size
1,880 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
2015
Listing Agency:
Frontier Commercial Group, LLC
(405) 878-6404
Listed By:
Kevin Hanna · License #202641
Source:
Oklahomerealestate
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 31 at 7:04PM
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 Frontier Commercial Group, LLC
Investment Insights
Based on property information with market context.
This flex space property at 10124 SE 29th Street in Oklahoma City was built in 2015 and offers 1,880 square feet of commercial area. Its positioning along SE 29th Street supports direct street exposure, while nearby connections to Interstate 40 and Interstate 240 provide access to major Oklahoma City routes.
The property is suited to a range of commercial applications identified in the marketing materials, including retail, office, service-oriented businesses, and light industrial use. The offering may also fit an owner-user or investor seeking a commercial asset in southeast Oklahoma City.
The property is suited to a range of commercial applications identified in the marketing materials, including retail, office, service-oriented businesses, and light industrial use. The offering may also fit an owner-user or investor seeking a commercial asset in southeast Oklahoma City.
Key Highlights
- 1,880‑square‑foot flex space property
- Built in 2015
- Frontage along SE 29th Street
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
$25,339
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
6.76%
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%
$506,780
$506.8K
Cap Rate 7%
$361,986
$362.0K
Cap Rate 9%
$281,544
$281.5K
Market Conditions
NOI Build-Up for 1,880 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
$40.6K $21.60/SF
− Vacancy
−$1.6K −$0.86/SF
EGI
$39.0K $20.74/SF
− OpEx
−$13.6K −$7.26/SF
NOI
$25.3K $13.48/SF
Area
Oklahoma City, OK
Vacancy
4.00%
Lease Rate
$21.60 /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%
$506,780
Cap Rate 7%
$361,986
Cap Rate 9%
$281,544
Alternative Uses
Best Use
Flex RnD
$362.0K
$316.7K – $422.3K
NOI $25,339 @ 7.0% cap · market cap 6.76%
Second Best
Industrial
$163.3K
$142.9K – $190.5K
NOI $11,429 @ 7.0% cap · market cap 3.05%
Theoretical Best
Specialty Retail
$643.0K
$562.6K – $750.1K
NOI $45,007 @ 7.0% cap · market cap 12.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
72
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 73130, OK
21,536
Population
9,222
Households
2.3
Avg Household Size
39
Median Age
29%
College-Educated
94%
High-School Grad
10.0 sq mi
ZIP Area
2,154
Density / Sq Mi
$69,617
Median Household Income
$41,798
Median Earnings
$1,143
Median Rent
$195,100
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Commercial property along SE 29th Street with convenient connections to I-40 and I-240.
Where is this flex space located?
The property is located at 10124 SE 29th St Oklahoma City, OK.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 1,880‑square‑foot flex space property; Built in 2015; Frontage along SE 29th Street
