Flex Space
For Sale
Contact for pricing
1114 N BROADWAY AVE, Oklahoma City, OK 73103
Vacant shell space adaptable for retail, office, flex, or light industrial occupancy.
Property Size6,750 SF
Price / SF$111.11
Days on Market211
Property Features for 1114 N BROADWAY AVE
General Information
Standard status
Active
Size
6,750 SF
Property subtype
INDUSTRIAL
Additional Details
Road Access
Yes
Listing Agency:
Wiggin Properties - OKC
(405) 831-6952
Listed By:
Michael Raff
(405) 831-6952
Source:
Moodyscre
Added: Feb 2
Changed: Aug 31
Last Checked: Aug 31 at 7:43PM
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 Wiggin Properties - OKC
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.
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 = 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
$41,037
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
5.47%
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%
$820,740
$820.7K
Cap Rate 7%
$586,243
$586.2K
Cap Rate 9%
$455,967
$456.0K
Market Conditions
NOI Build-Up for 6,750 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
$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 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%
$820,740
Cap Rate 7%
$586,243
Cap Rate 9%
$455,967
Alternative Uses
Best Use
Retail
$1.90M
$1.67M – $2.22M
NOI $133,245 @ 7.0% cap · market cap 17.77%
Second Best
Office B
$1.37M
$1.20M – $1.60M
NOI $96,034 @ 7.0% cap · market cap 12.80%
Theoretical Best
Specialty Retail
$2.31M
$2.02M – $2.69M
NOI $161,595 @ 7.0% cap · market cap 21.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
