Industrial Flex Building For
For Sale
Contact for pricing
220 N Western Ave, Oklahoma City, OK 73106
5550 SF industrial flex building in Oklahoma City, OK.
Property Size5,550 SF
Price / SF$162.16
Days on Market571
Property Features for 220 N Western Ave
General Information
Standard status
Active
Size
5,550 SF
Class
C
Property subtype
Industrial
Zoning
I-2
Building Details
Year Built
1937
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Equity Commercial Realty Advisors, LLC
Listed By:
David Lide · License #OK 130274
(405) 361-2100
Source:
Crexi
Added: Feb 11, 2025
Changed: Aug 21
Last Checked: Sep 3 at 5:47AM
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 Equity Commercial Realty Advisors, LLC
Investment Insights
Based on property information with market context.
This 5550 SF industrial flex building is located along N Western Ave between NW 1st St and NW 2nd St in Oklahoma City, OK.
Key Highlights
- 5550 SF Industrial Flex Bldg
- Located on N Western Ave in Oklahoma City, OK
- Between NW 1st St and NW 2nd St
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
$74,805
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
8.31%
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%
$1,496,100
$1.5M
Cap Rate 7%
$1,068,643
$1.1M
Cap Rate 9%
$831,167
$831.2K
Market Conditions
NOI Build-Up for 5,550 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
$119.9K $21.60/SF
− Vacancy
−$4.8K −$0.86/SF
EGI
$115.1K $20.74/SF
− OpEx
−$40.3K −$7.26/SF
NOI
$74.8K $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%
$1,496,100
Cap Rate 7%
$1,068,643
Cap Rate 9%
$831,167
Alternative Uses
Best Use
Flex RnD
$1.07M
$935.1K – $1.25M
NOI $74,805 @ 7.0% cap · market cap 8.31%
Second Best
Industrial
$482.0K
$421.8K – $562.4K
NOI $33,741 @ 7.0% cap · market cap 3.75%
Theoretical Best
Specialty Retail
$1.90M
$1.66M – $2.21M
NOI $132,867 @ 7.0% cap · market cap 14.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,581
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 73106, OK
12,956
Population
6,069
Households
2.1
Avg Household Size
32
Median Age
40%
College-Educated
85%
High-School Grad
3.0 sq mi
ZIP Area
4,319
Density / Sq Mi
$51,934
Median Household Income
$32,145
Median Earnings
$1,050
Median Rent
$262,500
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.
Similar Off Market Nearby
- Levy Catering — 100 W Reno Ave, Oklahoma City, OK 73102
- REV Catering — 916 NW 6th St, Oklahoma City, OK 73106
- Evolve the Burger - The Collective — 308 nw 10th st, oklahoma city, ok 73103
Frequently Asked Questions
What type of property is this?
Flex space - 5550 SF industrial flex building in Oklahoma City, OK.
Where is this flex space located?
The property is located at 220 N Western Ave Oklahoma City, OK.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 5550 SF Industrial Flex Bldg; Located on N Western Ave in Oklahoma City, OK; Between NW 1st St and NW 2nd St
