1216 N Council Road, Oklahoma City, OK 73127

Building Details

Year Built 1993 More

Building Size 4,560 SF More

Listing Agency: Legacy Real Estate Group Show Phone

Listed By: Rosana Trujillo · License #147210 Show Phone

Source: Beaversbendrealty

Added: Aug 20 Changed: Nov 7 Last Checked: Nov 7 at 4:15PM

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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 Legacy Real Estate Group

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Investment Insights

Based on property information with market context.

The standalone flex/industrial building contains 4,560 square feet and was built in 1993. Its features include an overhead door and ample parking. I-2 zoning may accommodate warehouse, light manufacturing, research and development, service, and office/warehouse uses, subject to Oklahoma City requirements and approvals.

The property fronts Council Road in west Oklahoma City, north of NW 10th Street. I-40 and the Kilpatrick Turnpike/I-344 connect the site with the wider Oklahoma City metro area.

Key Highlights

• 4,560‑square‑foot standalone flex/industrial building
• Built in 1993
• I‑2 zoning; uses subject to Oklahoma City requirements and approvals

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$36,093

Cap Rate

6.56%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$721,860 $721.9K

Cap Rate 7%

$515,614 $515.6K

Cap Rate 9%

$401,033 $401.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,560 SF

Gross rent

$43.8K $9.60/SF

− Vacancy

−$1.3K −$0.29/SF

EGI

$42.5K $9.31/SF

− OpEx

−$6.4K −$1.40/SF

NOI

$36.1K $7.92/SF

Area

Oklahoma City, OK

Vacancy

3.00%

Lease Rate

$9.60 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$721,860

Cap Rate 7%

$515,614

Cap Rate 9%

$401,033

Alternative Uses

Best Use

Flex RnD

$878.0K

$768.3K – $1.02M (±1% cap)

NOI $61,462 @ 7.0% cap · market cap 11.17%

Second Best

Warehouse

$515.6K

$451.2K – $601.6K (±1% cap)

NOI $36,093 @ 7.0% cap · market cap 6.56%

Theoretical Best

Specialty Retail

$1.56M

$1.36M – $1.82M (±1% cap)

NOI $109,166 @ 7.0% cap · market cap 19.85%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Sky High Pharms Department Store

Suggested Use

Top Pick Law Firm Real Estate Agency Hair Salon Spa & Massage Center Restaurant Dental Office

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

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

263

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 73127, OK

27,007

Population

11,329

Households

2.4

Avg Household Size

32

Median Age

16%

College-Educated

76%

High-School Grad

11.3 sq mi

ZIP Area

2,390

Density / Sq Mi

$46,020

Median Household Income

$28,766

Median Earnings

$926

Median Rent

$139,200

Median Home Value

Market

Average Price Trend$/SF for Flex space in Oklahoma City, OK

$233 Jul

$158 Aug

$144 Sep

$144 Oct

Properties on Market for Flex space in Oklahoma City

Jul

Aug

Sep

Oct

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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Similar Off Market Nearby

• La Perla Tapatia Food Truck — 1020 n council rd, oklahoma city, ok 73127
• Blac's Wing Shack — 7646 NW 10th St, Oklahoma City, OK 73127

Frequently Asked Questions

What type of property is this?

Flex space - I-2 zoning and Council Road frontage support a range of commercial and industrial concepts, subject to required approvals.

Where is this flex space located?

The property is located at 1216 N Council Road Oklahoma City, OK.

What is the asking price?

The asking price for this property is $550,000.

What are key features of this property?

This property features: 4,560‑square‑foot standalone flex/industrial building; Built in 1993; I‑2 zoning; uses subject to Oklahoma City requirements and approvals