Firewalled Multi-Tenant Office
For Sale
$950,000
110-6636 Nw 39th Expy, Bethany, OK 73008
Well-maintained 1-story masonry building with structural firewalls, dedicated parking, and multiple office and restroom areas.
Property Size7,125 SF
Lot Size0.18 Acres
Price / SF$133.33
Days on Market53
Property Features for 110-6636 Nw 39th Expy
General Information
Standard status
Active
Size
7,125 SF
Total Parking Spaces
10
Lot size
0.18 Acres
Zoning
CBD
Site & Location
Traffic Count
24,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Amenities
security system
storage building
conference room
kitchen
updated restrooms
Building Details
Stories
1
Construction
masonry
Tenancy
Multi
Listing Agency:
LRE Realty LLC
(405) 285-5750
Listed By:
Tara Levinson · License #145328
(405) 414-8750
Source:
Exprealty
Added: Jul 21
Changed: Sep 8
Last Checked: Sep 9 at 8:24PM
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 LRE Realty LLC
Investment Insights
Based on property information with market context.
This well-maintained, 1-story masonry multi-tenant commercial property offers a functional mix of office and common support spaces, with structural firewalls separating the units. The building includes a primary office suite with five offices, a conference room, a kitchen, and a common area/reception, along with a second set of five offices toward the rear and multiple updated men’s and women’s restrooms. A durable roof is listed as under 10 years old, and the property includes a ~200 SF detached rear storage building. Dedicated parking is set up with 10 spaces (5 in front and 5 in back), and a Vivint security system is noted.
Located directly across from the Southern Nazarene University (SNU) campus along the major NW 39th Expressway corridor (Historic Route 66), the property is described as positioned just steps from the Route 66 Visitor Center. The remarks cite 24,000+ daily vehicles on the corridor. Central Business District (CBD) zoning is noted with no minimum setback requirements, and the site is described as an 8,013 SF zero-lot-line lot.
The building currently houses service-oriented businesses, including a front hair salon, a massage therapy clinic, a specialized pet grooming space with a professional dog-washing station, a custom barber/beard shop with private rear entry, and a flexible front rental area used by a local Bible college for monthly meetings. The property is described as connected to major city utilities, including OG&E electric, City of Bethany water, and ONG gas.
Located directly across from the Southern Nazarene University (SNU) campus along the major NW 39th Expressway corridor (Historic Route 66), the property is described as positioned just steps from the Route 66 Visitor Center. The remarks cite 24,000+ daily vehicles on the corridor. Central Business District (CBD) zoning is noted with no minimum setback requirements, and the site is described as an 8,013 SF zero-lot-line lot.
The building currently houses service-oriented businesses, including a front hair salon, a massage therapy clinic, a specialized pet grooming space with a professional dog-washing station, a custom barber/beard shop with private rear entry, and a flexible front rental area used by a local Bible college for monthly meetings. The property is described as connected to major city utilities, including OG&E electric, City of Bethany water, and ONG gas.
Key Highlights
- 7,125 SF, 1‑story masonry multi‑tenant commercial building with structural firewalls separating units
- 8,013 SF zero‑lot‑line lot zoned Central Business District (CBD) with no minimum setback requirements
- Located directly across from Southern Nazarene University (SNU) campus on the NW 39th Expressway / Historic Route 66 corridor
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
$80,577
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
8.48%
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%
$1,611,540
$1.6M
Cap Rate 7%
$1,151,100
$1.2M
Cap Rate 9%
$895,300
$895.3K
Market Conditions
NOI Build-Up for 7,125 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
$118.8K $16.68/SF
− Vacancy
−$11.4K −$1.60/SF
EGI
$107.4K $15.08/SF
− OpEx
−$26.9K −$3.77/SF
NOI
$80.6K $11.31/SF
Area
Oklahoma County, OK
Vacancy
9.60%
Lease Rate
$16.68 /SF/Yr
Expense Ratio
25.00%
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%
$1,611,540
Cap Rate 7%
$1,151,100
Cap Rate 9%
$895,300
Alternative Uses
Best Use
Office B
$1.15M
$1.01M – $1.34M
NOI $80,577 @ 7.0% cap · market cap 8.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.48M
$1.30M – $1.73M
NOI $103,880 @ 7.0% cap · market cap 10.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
24,000 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
933
Businesses Nearby
Explore this area
Business Placement
Demographics for 73008, OK
21,592
Population
8,774
Households
2.5
Avg Household Size
35
Median Age
23%
College-Educated
86%
High-School Grad
7.5 sq mi
ZIP Area
2,879
Density / Sq Mi
$55,981
Median Household Income
$35,320
Median Earnings
$1,072
Median Rent
$163,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Well-maintained 1-story masonry building with structural firewalls, dedicated parking, and multiple office and restroom areas.
Where is this office units located?
The property is located at 110-6636 Nw 39th Expy Bethany, OK.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 7,125 SF, 1‑story masonry multi‑tenant commercial building with structural firewalls separating units; 8,013 SF zero‑lot‑line lot zoned Central Business District (CBD) with no minimum setback requirements; Located directly across from Southern Nazarene University (SNU) campus on the NW 39th Expressway / Historic Route 66 corridor
