Listing Agency: Wiggin Properties - OKC Show Phone

Listed By: Michael Raff Show Phone

Source: Moodyscre

Added: Feb 2 Changed: Oct 3 Last Checked: Oct 16 at 11:47AM

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Investment Insights

Based on property information with market context.

This 6,750-square-foot flex space is presented as a vacant shell, allowing the interior to be configured for a range of commercial applications. The property is identified for retail, office, flex, and light industrial use, subject to the requirements of the eventual occupant or investor.

Located at 1114 N Broadway Ave in Oklahoma City’s Midtown area, the building fronts Broadway and offers access and visibility along the corridor. Its unfinished condition provides a straightforward starting point for a customized commercial buildout.

Key Highlights

• 6,750‑square‑foot flex space
• Vacant shell ready for customized buildout
• Retail, office, flex, and light industrial use identified

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$41,037

Cap Rate

5.47%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$820,740 $820.7K

Cap Rate 7%

$586,243 $586.2K

Cap Rate 9%

$455,967 $456.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,750 SF

Gross rent

$60.8K $9.00/SF

− Vacancy

−$2.1K −$0.32/SF

EGI

$58.6K $8.69/SF

− OpEx

−$17.6K −$2.61/SF

NOI

$41.0K $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%

$820,740

Cap Rate 7%

$586,243

Cap Rate 9%

$455,967

Alternative Uses

Best Use

Retail

$1.90M

$1.67M – $2.22M (±1% cap)

NOI $133,245 @ 7.0% cap · market cap 17.77%

Second Best

Office B

$1.37M

$1.20M – $1.60M (±1% cap)

NOI $96,034 @ 7.0% cap · market cap 12.80%

Theoretical Best

Specialty Retail

$2.31M

$2.02M – $2.69M (±1% cap)

NOI $161,595 @ 7.0% cap · market cap 21.55%

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

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Veterinary Clinic Locksmith (Bike/Boat/Book/etc) Store Auto Parts Store Food Market Butcher

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

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

3,475

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 73103, OK

5,046

Population

3,489

Households

1.4

Avg Household Size

34

Median Age

61%

College-Educated

99%

High-School Grad

1.2 sq mi

ZIP Area

4,205

Density / Sq Mi

$56,934

Median Household Income

$50,055

Median Earnings

$954

Median Rent

$400,400

Median Home Value

Market

Vacancy Rate% for Office in Oklahoma City, OK

10.8% 2023

26.5% 2024

29.6% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Vacant shell space adaptable for retail, office, flex, or light industrial occupancy.

Where is this flex space located?

The property is located at 1114 N BROADWAY AVE Oklahoma City, OK.

What is the asking price?

The asking price for this property is $750,000.

What are key features of this property?

This property features: 6,750‑square‑foot flex space; Vacant shell ready for customized buildout; Retail, office, flex, and light industrial use identified