Commercial Land with Brick
For Sale
$225,000
1124 S Eastern Avenue, Oklahoma City, OK 73129
Commercially zoned property includes an existing brick structure with two restrooms and a roof installed in October 2024.
Property Size864 SF
Days on Market273
Property Features for 1124 S Eastern Avenue
General Information
Standard status
Active
Size
864 SF
Property subtype
Commercial
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$380
Building Details
Building Size
864 SF
Year Built
1966
Listing Agency:
Metro First Executives
(405) 242-3328
Listed By:
Donna Kincheloe · License #69841
(405) 414-8506
Source:
Capitalrealestateok
Added: Dec 3, 2025
Changed: Aug 31
Last Checked: Aug 31 at 5:11PM
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 Metro First Executives
Investment Insights
Based on property information with market context.
This commercially zoned property at 1124 S Eastern Avenue includes a small brick building with two bathrooms. The structure was built in 1966 and received a new roof in October 2024. The site may be used with the existing improvements or redeveloped, subject to applicable approvals.
The property is positioned near I-40 and the Oklahoma River, with the OKANA Resort, American Indian Cultural Museum, and Old Paris Flea Market identified nearby. The Oklahoma River is also associated with the 2028 Olympics in the property information.
The property is positioned near I-40 and the Oklahoma River, with the OKANA Resort, American Indian Cultural Museum, and Old Paris Flea Market identified nearby. The Oklahoma River is also associated with the 2028 Olympics in the property information.
Key Highlights
- Commercial zoning at 1124 S Eastern Avenue
- Small brick building with 2 bathrooms
- New roof installed in October 2024
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
$17,055
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
7.58%
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%
$341,100
$341.1K
Cap Rate 7%
$243,643
$243.6K
Cap Rate 9%
$189,500
$189.5K
Market Conditions
NOI Build-Up for 864 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
$25.9K $30.00/SF
− Vacancy
−$1.6K −$1.80/SF
EGI
$24.4K $28.20/SF
− OpEx
−$7.3K −$8.46/SF
NOI
$17.1K $19.74/SF
Area
Oklahoma City, OK
Vacancy
6.00%
Lease Rate
$30.00 /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%
$341,100
Cap Rate 7%
$243,643
Cap Rate 9%
$189,500
Alternative Uses
Best Use
Retail
$243.6K
$213.2K – $284.3K
NOI $17,055 @ 7.0% cap · market cap 7.58%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$295.5K
$258.6K – $344.7K
NOI $20,684 @ 7.0% cap · market cap 9.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
210
Businesses Nearby
Explore this area
Business Placement
Demographics for 73129, OK
19,971
Population
7,569
Households
2.6
Avg Household Size
31
Median Age
6%
College-Educated
67%
High-School Grad
12.5 sq mi
ZIP Area
1,598
Density / Sq Mi
$43,941
Median Household Income
$28,481
Median Earnings
$914
Median Rent
$76,400
Median Home Value
Market
Vacancy Rate% for Retail in Oklahoma City, OK
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Commercially zoned property includes an existing brick structure with two restrooms and a roof installed in October 2024.
Where is this commercial land located?
The property is located at 1124 S Eastern Avenue Oklahoma City, OK.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Commercial zoning at 1124 S Eastern Avenue; Small brick building with 2 bathrooms; New roof installed in October 2024
