12.5 Acres Available For
For Sale
Contact for pricing
15004 NW Expressway, Piedmont, OK 73078
12.5 acres suitable for industrial park or self-storage facility.
Property Size5,000 SF
Lot Size12.50 Acres
Price / SF$208
Days on Market2405
Property Features for 15004 NW Expressway
General Information
Standard status
Active
Size
5,000 SF
Lot size
12.50 Acres
Property subtype
Land
Listing Agency:
Cushman & Wakefield
Listed By:
Allan Meadors · License #OK 157111
Source:
Crexi
Added: Feb 12, 2020
Changed: Sep 3
Last Checked: Sep 12 at 7:10AM
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 Cushman & Wakefield
Investment Insights
Based on property information with market context.
This 12.5-acre property is available for sale and presents opportunities for developing a small industrial park or a self-storage facility. The land is located outside city limits, which means there are no zoning restrictions. It has access to Piedmont city water. The property is approximately 8 miles from Kilpatrick Turnpike and 9 miles from Highway 81.
Key Highlights
- 12.5 acres available for development.
- No zoning restrictions due to location outside city limits.
- Access to Piedmont city water.
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
$46,872
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
4.51%
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%
$937,440
$937.4K
Cap Rate 7%
$669,600
$669.6K
Cap Rate 9%
$520,800
$520.8K
Market Conditions
NOI Build-Up for 5,000 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
$72.0K $14.40/SF
− Vacancy
−$5.0K −$1.01/SF
EGI
$67.0K $13.39/SF
− OpEx
−$20.1K −$4.02/SF
NOI
$46.9K $9.37/SF
Area
Canadian County, OK
Vacancy
7.00%
Lease Rate
$14.40 /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%
$937,440
Cap Rate 7%
$669,600
Cap Rate 9%
$520,800
Alternative Uses
Best Use
Self Storage
$669.6K
$585.9K – $781.2K
NOI $46,872 @ 7.0% cap · market cap 4.51%
Second Best
Industrial
$443.5K
$388.1K – $517.4K
NOI $31,046 @ 7.0% cap · market cap 2.99%
Theoretical Best
Office A
$1.09M
$952.6K – $1.27M
NOI $76,209 @ 7.0% cap · market cap 7.33%
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
30
Businesses Nearby
Explore this area
Business Placement
Demographics for 73078, OK
12,069
Population
4,683
Households
2.6
Avg Household Size
35
Median Age
35%
College-Educated
92%
High-School Grad
64.9 sq mi
ZIP Area
186
Density / Sq Mi
$97,197
Median Household Income
$54,181
Median Earnings
$1,657
Median Rent
$288,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial land - 12.5 acres suitable for industrial park or self-storage facility.
Where is this industrial land located?
The property is located at 15004 NW Expressway Piedmont, OK.
What is the asking price?
The asking price for this property is $1,040,000.
What are key features of this property?
This property features: 12.5 acres available for development.; No zoning restrictions due to location outside city limits.; Access to Piedmont city water.
