Flex Space with Yard
For Sale
$2,484,484
2400 E College St, Broken Arrow, OK 74012
Combined office, warehouse, and yard components support varied commercial operations with direct corridor exposure and access.
Property Size8,300 SF
Price / SF$299.34
Days on Market20
Property Features for 2400 E College St
General Information
Standard status
Active
Size
8,300 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Outdoor Storage
Yes
Building Details
Year Built
1960
Listing Agency:
Pennington & Assoc Realtors
Listed By:
Farrah L. Fulps · License #205174
Source:
Therentzteam
Added: Aug 10
Changed: Aug 28
Last Checked: Aug 25 at 8:53AM
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 Pennington & Assoc Realtors
Investment Insights
Based on property information with market context.
This flex property combines 8,300 square feet of office and warehouse improvements with an expansive yard area. The configuration provides substantial office buildout alongside functional warehouse space, creating a practical setting for businesses that require both indoor work areas and outdoor equipment or material storage. Built in 1960, the property offers an established commercial improvement with multiple operational components.
The site is positioned along the Hwy 51 and Broken Arrow Expressway corridor at 2400 E College St in Broken Arrow, Oklahoma. Prominent frontage along the Broken Arrow Expressway supports visibility and accessibility, while the yard component adds flexibility for equipment storage, laydown use, and potential expansion. The property is suited to fleet-based services, contractors, distribution operations, owner-users, and investors seeking a combined office-and-industrial configuration.
The site is positioned along the Hwy 51 and Broken Arrow Expressway corridor at 2400 E College St in Broken Arrow, Oklahoma. Prominent frontage along the Broken Arrow Expressway supports visibility and accessibility, while the yard component adds flexibility for equipment storage, laydown use, and potential expansion. The property is suited to fleet-based services, contractors, distribution operations, owner-users, and investors seeking a combined office-and-industrial configuration.
Key Highlights
- 8,300‑square‑foot flex property with office and warehouse improvements
- Expansive yard area supports equipment storage and laydown use
- Prominent Broken Arrow Expressway frontage
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
$97,304
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
3.92%
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%
$1,946,080
$1.9M
Cap Rate 7%
$1,390,057
$1.4M
Cap Rate 9%
$1,081,156
$1.1M
Market Conditions
NOI Build-Up for 8,300 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
$166.3K $20.04/SF
− Vacancy
−$36.6K −$4.41/SF
EGI
$129.7K $15.63/SF
− OpEx
−$32.4K −$3.91/SF
NOI
$97.3K $11.72/SF
Area
Broken Arrow, OK
Vacancy
22.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
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%
$1,946,080
Cap Rate 7%
$1,390,057
Cap Rate 9%
$1,081,156
Alternative Uses
Best Use
Office B
$1.39M
$1.22M – $1.62M
NOI $97,304 @ 7.0% cap · market cap 3.92%
Second Best
Flex RnD
$1.04M
$910.4K – $1.21M
NOI $72,833 @ 7.0% cap · market cap 2.93%
Theoretical Best
Office A
$1.94M
$1.70M – $2.27M
NOI $135,902 @ 7.0% cap · market cap 5.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
907
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 74012, OK
63,918
Population
26,069
Households
2.5
Avg Household Size
37
Median Age
34%
College-Educated
94%
High-School Grad
24.8 sq mi
ZIP Area
2,577
Density / Sq Mi
$80,079
Median Household Income
$44,321
Median Earnings
$1,211
Median Rent
$223,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Simply De-Lish Catering — 848 S Aspen Ave, Broken Arrow, OK 74012
Frequently Asked Questions
What type of property is this?
Flex space - Combined office, warehouse, and yard components support varied commercial operations with direct corridor exposure and access.
Where is this flex space located?
The property is located at 2400 E College St Broken Arrow, OK.
What is the asking price?
The asking price for this property is $2,484,484.
What are key features of this property?
This property features: 8,300‑square‑foot flex property with office and warehouse improvements; Expansive yard area supports equipment storage and laydown use; Prominent Broken Arrow Expressway frontage
