Listing Agency: Chinowth & Cohen - Bixby Show Phone

Listed By: Leland Chinowth · License #149463 Show Phone

Source: Moodyscre

Added: Jul 3, 2024 Changed: Oct 11 Last Checked: Oct 19 at 8:18AM

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Investment Insights

Based on property information with market context.

This 12,204 +/- square foot warehouse property in Wagoner, OK, features updated HVAC systems and foam insulation. The layout includes private offices separated from the warehouse area and a mini-kitchen. A new chain-link fence has been installed around the property.

Key Highlights

• 12,204 +/- Sq feet of total space
• 3 Updated HVAC Systems
• Foam insulated warehouse

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$71,240

Cap Rate

8.91%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,424,800 $1.4M

Cap Rate 7%

$1,017,714 $1.0M

Cap Rate 9%

$791,556 $791.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 12,204 SF

Gross rent

$86.4K $7.08/SF

− Vacancy

−$2.6K −$0.21/SF

EGI

$83.8K $6.87/SF

− OpEx

−$12.6K −$1.03/SF

NOI

$71.2K $5.84/SF

Area

Wagoner County, OK

Vacancy

3.00%

Lease Rate

$7.08 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,424,800

Cap Rate 7%

$1,017,714

Cap Rate 9%

$791,556

Alternative Uses

Best Use

Warehouse

$1.02M

$890.5K – $1.19M (±1% cap)

NOI $71,240 @ 7.0% cap · market cap 8.91%

Second Best

Industrial

$838.1K

$733.4K – $977.8K (±1% cap)

NOI $58,669 @ 7.0% cap · market cap 7.33%

Theoretical Best

Office A

$2.88M

$2.52M – $3.36M (±1% cap)

NOI $201,512 @ 7.0% cap · market cap 25.19%

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

Property Analytics

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Current Use

Warehouses

Suggested Use

Top Pick Real Estate Agency Big Box & Wholesale Store Electrical Service Dental Office Auto Parts Store Kitchen & Bath Showroom

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

Location Intelligence

Trade Area within ½ mile

6

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Warehouse - 12,204 +/- sq ft warehouse with offices and mini-kitchen.

Where is this warehouse located?

The property is located at 2111 Hwy 51 Wagoner, OK.

What is the asking price?

The asking price for this property is $800,000.

What are key features of this property?

This property features: 12,204 +/- Sq feet of total space; 3 Updated HVAC Systems; Foam insulated warehouse