I-240 Frontage Property For
For Sale
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613 W I-240 Service Rd, Oklahoma City, OK
Automotive and retail property with I-240 frontage.
Property Size17,900 SF
Lot Size4.95 Acres
Price / SF$212.29
Days on Market857
Property Features for 613 W I-240 Service Rd
General Information
Standard status
Active
Size
17,900 SF
Lot size
4.95 Acres
Property subtype
RETAIL
Listing Agency:
Creek Price Edwards and Company - Oklahoma City
(405) 843-7474
Listed By:
Andrew Holder
(580) 430-5124
Source:
Moodyscre
Added: Apr 30, 2024
Changed: Aug 20
Last Checked: Sep 1 at 8:35PM
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 Creek Price Edwards and Company - Oklahoma City
Investment Insights
Based on property information with market context.
This property features frontage on I-240 and is zoned C-3. It includes a 6,000 square foot office/showroom and an 11,900 square foot maintenance shop. The property occupies 4.95 acres, offering potential for various automotive and retail uses.
Key Highlights
- I‑240 Frontage
- Boasting 4.95 Acres
- C‑3 Zoning
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
$108,823
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
2.86%
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%
$2,176,460
$2.2M
Cap Rate 7%
$1,554,614
$1.6M
Cap Rate 9%
$1,209,144
$1.2M
Market Conditions
NOI Build-Up for 17,900 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
$161.1K $9.00/SF
− Vacancy
−$5.6K −$0.32/SF
EGI
$155.5K $8.69/SF
− OpEx
−$46.6K −$2.61/SF
NOI
$108.8K $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%
$2,176,460
Cap Rate 7%
$1,554,614
Cap Rate 9%
$1,209,144
Alternative Uses
Best Use
Retail
$5.05M
$4.42M – $5.89M
NOI $353,346 @ 7.0% cap · market cap 9.30%
Second Best
Industrial
$1.55M
$1.36M – $1.81M
NOI $108,823 @ 7.0% cap · market cap 2.86%
Theoretical Best
Specialty Retail
$6.12M
$5.36M – $7.14M
NOI $428,526 @ 7.0% cap · market cap 11.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,927
Businesses Nearby
32k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 53%
Hotels & Casinos 31%
Dining 16%
Sheraton Hotels & Resorts
Hotels & Casinos
9,981 visits/mo
0.4 miles
Chase Bank
Shops & Services
9,559 visits/mo
0.3 miles
Jimmy's Egg
Dining
5,016 visits/mo
0.4 miles
Shell
Shops & Services
4,893 visits/mo
0.3 miles
Communication Federal Credit Union
Shops & Services
2,297 visits/mo
0.3 miles
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?
Auto shop - Automotive and retail property with I-240 frontage.
Where is this auto shop located?
The property is located at 613 W I-240 Service Rd Oklahoma City, OK.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: I‑240 Frontage; Boasting 4.95 Acres; C‑3 Zoning
