Fenced Flex Space with
For Sale
$239,000
117 W Peninsula Dr N, Cleveland, OK 74020
Fenced commercial tract with gated access, a heated shop, detached building, and visibility from Hwy 412.
Property Size2,400 SF
Lot Size3.00 Acres
Price / SF$99.58
Days on Market152
Property Features for 117 W Peninsula Dr N
General Information
Standard status
Active
Size
2,400 SF
Lot size
3.00 Acres
Site & Location
Road Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Clear Span
Yes
Warehouse Space
2,400 SF
Additional Details
Land Use
commercial
Taxes and HOA fees
Annual Taxes
$1,231
Amenities
fully chain-link fenced
two separate gated entrances
40x60 clear-span shop with radiant heating and two overhead doors (12x10 and 12x12)
separate detached building
20x20 lighted pole sign
active on-site billboard
Building Details
Buildings
2
Listing Agency:
eXp Realty, LLC (BO)
(888) 560-3964
Listed By:
Jerri Saliba · License #142789
(918) 640-7392
Source:
Exprealty
Added: May 18
Changed: Oct 8
Last Checked: Oct 15 at 12:10AM
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 eXp Realty, LLC (BO)
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Investment Insights
Based on property information with market context.
This 3-acre flex-space property combines a secured commercial yard with multiple on-site improvements. The tract is enclosed by chain-link fencing and has two gated entrances from a county-maintained blacktop road. A 40-by-60-foot clear-span shop provides 2,400 square feet of interior space, overhead radiant heating, and two overhead doors measuring 12-by-10 feet and 12-by-12 feet. A detached building adds separate space for office, rental-center, or living-quarter use.
The property fronts Hwy 412 for direct highway exposure and is approximately 20 miles from downtown Tulsa and within 3 miles of Keystone Lake. A 20-by-20-foot lighted pole sign supports roadside identification, while an active on-site billboard generates monthly rental income. The combination of fenced land, gated circulation, enclosed shop space, and a separate building supports a range of commercial storage and operational configurations.
The property fronts Hwy 412 for direct highway exposure and is approximately 20 miles from downtown Tulsa and within 3 miles of Keystone Lake. A 20-by-20-foot lighted pole sign supports roadside identification, while an active on-site billboard generates monthly rental income. The combination of fenced land, gated circulation, enclosed shop space, and a separate building supports a range of commercial storage and operational configurations.
Key Highlights
- 3‑acre tract with Hwy 412 visibility, approximately 20 miles from downtown Tulsa
- 40x60 clear‑span shop with 2,400 square feet of space
- Two overhead doors measuring 12x10 and 12x12
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,151
Cap Rate
8.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$383,020
$383.0K
Cap Rate 7%
$273,586
$273.6K
Cap Rate 9%
$212,789
$212.8K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$31.7K $13.20/SF
− Vacancy
−$2.2K −$0.92/SF
EGI
$29.5K $12.28/SF
− OpEx
−$10.3K −$4.30/SF
NOI
$19.2K $7.98/SF
Area
Pawnee County, OK
Vacancy
7.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$383,020
Cap Rate 7%
$273,586
Cap Rate 9%
$212,789
Alternative Uses
Best Use
Flex RnD
$273.6K
$239.4K – $319.2K
NOI $19,151 @ 7.0% cap · market cap 8.01%
Second Best
Warehouse
$200.1K
$175.1K – $233.5K
NOI $14,010 @ 7.0% cap · market cap 5.86%
Theoretical Best
Office A
$566.1K
$495.4K – $660.5K
NOI $39,629 @ 7.0% cap · market cap 16.58%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
9
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 74020, OK
7,207
Population
3,425
Households
2.1
Avg Household Size
43
Median Age
17%
College-Educated
89%
High-School Grad
67.7 sq mi
ZIP Area
106
Density / Sq Mi
$61,188
Median Household Income
$40,123
Median Earnings
$886
Median Rent
$137,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - Fenced commercial tract with gated access, a heated shop, detached building, and visibility from Hwy 412.
Where is this flex space located?
The property is located at 117 W Peninsula Dr N Cleveland, OK.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: 3‑acre tract with Hwy 412 visibility, approximately 20 miles from downtown Tulsa; 40x60 clear‑span shop with 2,400 square feet of space; Two overhead doors measuring 12x10 and 12x12
