Flex Space with Overhead
For Sale
$435,000
1830 SE 29th St, Oklahoma City, OK 73129
Fenced commercial property with gated access and plumbing for a half bath.
Property Size1,200 SF
Price / SF$362.50
Days on Market36
Property Features for 1830 SE 29th St
General Information
Standard status
Active
Size
1,200 SF
Building Details
Year Built
2023
Listing Agency:
Metro First Realty Group
(405) 761-4951
Listed By:
Jeanie Wilson · License #154802
Source:
Alloverok
Added: Jul 28
Changed: Aug 30
Last Checked: Aug 30 at 8:13PM
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 Metro First Realty Group
Investment Insights
Based on property information with market context.
Built in 2023, the property includes a 40-foot by 30-foot metal building configured with an overhead door and plumbing for a half bath. Fencing and a large gate secure the approximately 0.83-acre site, providing an enclosed setting for commercial use.
The property is located at 1830 SE 29th Street in Oklahoma City, with access to I-35 and I-40. Commercial zoning supports its flex-space classification and provides a clear framework for evaluating future use.
The property is located at 1830 SE 29th Street in Oklahoma City, with access to I-35 and I-40. Commercial zoning supports its flex-space classification and provides a clear framework for evaluating future use.
Key Highlights
- 40ft by 30ft metal building
- Overhead door for building access
- Plumbing for a Half Bath
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
$16,174
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
3.72%
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%
$323,480
$323.5K
Cap Rate 7%
$231,057
$231.1K
Cap Rate 9%
$179,711
$179.7K
Market Conditions
NOI Build-Up for 1,200 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
$25.9K $21.60/SF
− Vacancy
−$1.0K −$0.86/SF
EGI
$24.9K $20.74/SF
− OpEx
−$8.7K −$7.26/SF
NOI
$16.2K $13.48/SF
Area
Oklahoma City, OK
Vacancy
4.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
35.00%
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%
$323,480
Cap Rate 7%
$231,057
Cap Rate 9%
$179,711
Alternative Uses
Best Use
Flex RnD
$231.1K
$202.2K – $269.6K
NOI $16,174 @ 7.0% cap · market cap 3.72%
Second Best
Industrial
$104.2K
$91.2K – $121.6K
NOI $7,295 @ 7.0% cap · market cap 1.68%
Theoretical Best
Specialty Retail
$410.4K
$359.1K – $478.8K
NOI $28,728 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
443
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 73129, OK
19,971
Population
7,569
Households
2.6
Avg Household Size
31
Median Age
6%
College-Educated
67%
High-School Grad
12.5 sq mi
ZIP Area
1,598
Density / Sq Mi
$43,941
Median Household Income
$28,481
Median Earnings
$914
Median Rent
$76,400
Median Home Value
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 - Fenced commercial property with gated access and plumbing for a half bath.
Where is this flex space located?
The property is located at 1830 SE 29th St Oklahoma City, OK.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: 40ft by 30ft metal building; Overhead door for building access; Plumbing for a Half Bath
