Flex Space with Overhead
For Sale
Contact for pricing
2116 NW 39th St, Oklahoma City, OK 73112
Flex space suited to industrial-retail service use, with two overhead doors and convenient interstate access.
Property Size5,192 SF
Price / SF$79.93
Days on Market1830
Property Features for 2116 NW 39th St
General Information
Standard status
Active
Size
5,192 SF
Property subtype
INDUSTRIAL
Additional Details
Highway Access
Yes
Amenities
2 Overhead Doors
Listing Agency:
Herndon & Kelley Commercial Real Estate
Listed By:
Todd Herndon · License #076548
(405) 848-8099
Source:
Moodyscre
Added: Sep 13, 2021
Changed: Sep 15
Last Checked: Sep 15 at 9:39AM
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 Herndon & Kelley Commercial Real Estate
Investment Insights
Based on property information with market context.
This 5,192-square-foot flex space includes two overhead doors and is positioned for industrial-retail service use. The property fronts NW 39th St., providing access to a commercial corridor in Oklahoma City.
The property is approximately ¼ mile from I-44 and close to NW Highway, Baptist Hospital, Penn Square Mall, and Downtown Oklahoma City. Its combination of flex-space configuration, overhead-door access, and proximity to major destinations supports a range of service-oriented commercial operations.
The property is approximately ¼ mile from I-44 and close to NW Highway, Baptist Hospital, Penn Square Mall, and Downtown Oklahoma City. Its combination of flex-space configuration, overhead-door access, and proximity to major destinations supports a range of service-oriented commercial operations.
Key Highlights
- 5,192‑square‑foot flex space
- Two overhead doors
- Approximately ¼ mile to I‑44
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
$31,565
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
7.61%
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%
$631,300
$631.3K
Cap Rate 7%
$450,929
$450.9K
Cap Rate 9%
$350,722
$350.7K
Market Conditions
NOI Build-Up for 5,192 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
$46.7K $9.00/SF
− Vacancy
−$1.6K −$0.32/SF
EGI
$45.1K $8.69/SF
− OpEx
−$13.5K −$2.61/SF
NOI
$31.6K $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%
$631,300
Cap Rate 7%
$450,929
Cap Rate 9%
$350,722
Alternative Uses
Best Use
Flex RnD
$999.7K
$874.8K – $1.17M
NOI $69,980 @ 7.0% cap · market cap 16.86%
Second Best
Industrial
$450.9K
$394.6K – $526.1K
NOI $31,565 @ 7.0% cap · market cap 7.61%
Theoretical Best
Specialty Retail
$1.78M
$1.55M – $2.07M
NOI $124,296 @ 7.0% cap · market cap 29.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
421
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 73112, OK
31,113
Population
16,413
Households
1.9
Avg Household Size
37
Median Age
35%
College-Educated
91%
High-School Grad
7.6 sq mi
ZIP Area
4,094
Density / Sq Mi
$57,833
Median Household Income
$39,641
Median Earnings
$1,030
Median Rent
$173,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Flex space suited to industrial-retail service use, with two overhead doors and convenient interstate access.
Where is this flex space located?
The property is located at 2116 NW 39th St Oklahoma City, OK.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: 5,192‑square‑foot flex space; Two overhead doors; Approximately ¼ mile to I‑44
