Multi-Tenant Flex Investment
For Sale
$2,900,000
1231 Sovereign Row, Oklahoma City, OK 73108
Stabilized flex property with diversified tenant pool, near I-40.
Property Size38,717 SF
Price / SF$74.90
Days on Market253
Property Features for 1231 Sovereign Row
General Information
Standard status
Active
Size
38,717 SF
Property subtype
Industrial
Building Details
Building Size
38,717 SF
Listing Agency:
Price Edwards & Company Oklahoma City
Listed By:
Danny Rivera · License #148829
(405) 408-5449
Source:
Tcnworldwide
Added: Jan 27
Changed: Oct 3
Last Checked: Oct 7 at 9:58AM
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 Price Edwards & Company Oklahoma City
Investment Insights
Based on property information with market context.
This property features a mix of office spaces and flex bays with warehouse components. The site is located just south of I-40 off of South Meridian Avenue. Constructed of concrete, the property is zoned I-2. The property consists of multi-tenant flex units and is currently 94% occupied across 16 units. The property operates at a 7.8% capitalization rate.
Key Highlights
- 7.8% Cap Rate
- 94% Occupancy on 16 Units (Stabilized Asset)
- Multi‑Tenant Flex Units (Office and Warehouse)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$235,380
Cap Rate
8.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,707,600
$4.7M
Cap Rate 7%
$3,362,571
$3.4M
Cap Rate 9%
$2,615,333
$2.6M
Market Conditions
NOI Build-Up for 38,717 SF
Gross rent
$348.5K $9.00/SF
− Vacancy
−$12.2K −$0.32/SF
EGI
$336.3K $8.69/SF
− OpEx
−$100.9K −$2.61/SF
NOI
$235.4K $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 Rate 5%
$4,707,600
Cap Rate 7%
$3,362,571
Cap Rate 9%
$2,615,333
Alternative Uses
Best Use
Office B
$7.87M
$6.89M – $9.18M
NOI $550,835 @ 7.0% cap · market cap 18.99%
Second Best
Flex RnD
$7.45M
$6.52M – $8.70M
NOI $521,843 @ 7.0% cap · market cap 17.99%
Theoretical Best
Specialty Retail
$13.24M
$11.59M – $15.45M
NOI $926,885 @ 7.0% cap · market cap 31.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
741
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 73108, OK
14,451
Population
6,221
Households
2.3
Avg Household Size
30
Median Age
4%
College-Educated
56%
High-School Grad
7.6 sq mi
ZIP Area
1,901
Density / Sq Mi
$35,278
Median Household Income
$31,017
Median Earnings
$799
Median Rent
$75,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Oklahoma City, OK
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Frequently Asked Questions
What type of property is this?
Flex space - Stabilized flex property with diversified tenant pool, near I-40.
Where is this flex space located?
The property is located at 1231 Sovereign Row Oklahoma City, OK.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: 7.8% Cap Rate; 94% Occupancy on 16 Units (Stabilized Asset); Multi‑Tenant Flex Units (Office and Warehouse)
