Versatile Commercial Building For
2701 West California Avenue Oklahoma City, OK 73107
For Sale
$3,500,000
23,810 SF building with showroom, office, and warehouse space.
Property Size23,810 SF
Lot Size1.40 Acres
Price / SF$146
Days on Market126
Property Features for 2701 West California Avenue
General Information
Standard status
Active
Size
23,810 SF
Lot size
1.40 Acres
Property subtype
Industrial
Listing Agency:
CBRE | Oklahoma City
(405) 607-6062
Listed By:
Randy Lacey · License #067465
(405) 607-6062
Source:
Cbre
Added: Mar 25
Changed: Jul 10
Last Checked: Jul 28 at 5:20AM
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 CBRE | Oklahoma City
Investment Insights
Based on property information with market context.
This commercial property, suitable for flex space, industrial, warehouse, showroom, and retail use, offers a total building size of approximately 23,810 square feet on a 1.4-acre lot. The property features a 120-month NNN lease structure with annual increases and a cap rate of 8.3%. The building includes approximately 9,310 square feet of warehouse space and approximately 14,500 square feet of fully climate-controlled showroom and office space, including two large storage areas with grade-level loading. The warehouse has a clear span with gas space heating and radiant heating. Constructed of concrete with an aggregate finish, the property has two 8’x12’ grade doors and two 12’x14’ grade doors, with a clear height of 16’-17’. It is equipped with a security system that includes cameras and external security lighting. The property has (2) 200 amp panels with 3-phase power and is zoned I-1 and I-2. The location is half a mile north of I-40, 1.5 miles east of I-44, and 4 miles west of the I-35 / I-235 interchange.
Key Highlights
- Favorable 120‑Month Lease with NNN structure and annual increases.
- Excellent 8.3% Cap Rate.
- Strategic Location: Half mile from I‑40, easy access to other major interstates.
Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $514.3k | $21.60 |
| − Vacancy | −$20.6k | −$0.86 |
| EGI | $493.7k | $20.74 |
| − OpEx | −$172.8k | −$7.26 |
| NOI | $320.9k | $13.48 |
23,810 SF · lease $21.60/SF/yr · vacancy 4.00% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$4.58M
$4.01M – $5.35M
NOI $320,921 @ 7.0% cap · market cap 9.17%
Second Best
Warehouse
$2.69M
$2.36M – $3.14M
NOI $188,461 @ 7.0% cap · market cap 5.38%
Theoretical Best
Specialty Retail
$8.14M
$7.13M – $9.50M
NOI $570,011 @ 7.0% cap · market cap 16.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Flex space - 23,810 SF building with showroom, office, and warehouse space.
Where is this flex space located?
The property is located at 2701 West California Avenue Oklahoma City, OK.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Favorable 120‑Month Lease with NNN structure and annual increases.; Excellent 8.3% Cap Rate.; Strategic Location: Half mile from I‑40, easy access to other major interstates.
