Listing Agency: Murphy Real Estate Show Phone

Listed By: Kyra Escott Show Phone

Source: Exprealty

Added: Aug 13 Changed: Sep 11 Last Checked: Oct 5 at 7:50PM

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Investment Insights

Based on property information with market context.

This 6,000-square-foot flex property contains four units, with three occupied by two long-term tenants under leases extending through July 2028. The warehouse area includes two overhead doors, while a separate set of double doors is equipped with a car lift. The owner currently occupies one portion of the property.

Positioned along Historic Route 66 at 1611 E US Highway 66 in El Reno, the property includes 24 parking spaces and a loading dock at the northeast corner. Grass yard areas extend along the north and west sides, with additional side-yard space that may support outdoor use. The existing layout and combination of warehouse, parking, loading, and yard areas provide a range of functional configurations within the flex-space format.

Key Highlights

• 6,000 SF flex property with 4 units
• 2 of 4 units are occupied by 2 long‑term tenants
• Leases are in place through July, 2028

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$37,256

Cap Rate

8.28%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$745,120 $745.1K

Cap Rate 7%

$532,229 $532.2K

Cap Rate 9%

$413,956 $414.0K

Market Conditions

NOI Build-Up for 6,000 SF

Gross rent

$57.6K $9.60/SF

− Vacancy

−$4.4K −$0.73/SF

EGI

$53.2K $8.87/SF

− OpEx

−$16.0K −$2.66/SF

NOI

$37.3K $6.21/SF

Area

Canadian County, OK

Vacancy

7.60%

Lease Rate

$9.60 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$745,120

Cap Rate 7%

$532,229

Cap Rate 9%

$413,956

Alternative Uses

Best Use

Warehouse

$646.3K

$565.5K – $754.0K (±1% cap)

NOI $45,239 @ 7.0% cap · market cap 10.05%

Second Best

Industrial

$532.2K

$465.7K – $620.9K (±1% cap)

NOI $37,256 @ 7.0% cap · market cap 8.28%

Theoretical Best

Office A

$1.31M

$1.14M – $1.52M (±1% cap)

NOI $91,451 @ 7.0% cap · market cap 20.32%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Law Firm Restaurant Pharmacy Parking Lot & Garage Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

179

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 73036, OK

19,602

Population

7,790

Households

2.5

Avg Household Size

37

Median Age

19%

College-Educated

87%

High-School Grad

183.8 sq mi

ZIP Area

107

Density / Sq Mi

$59,617

Median Household Income

$35,660

Median Earnings

$912

Median Rent

$162,900

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Multi-unit commercial property with warehouse features and leases extending through July 2028.

Where is this flex space located?

The property is located at 1611 E Us Highway 66 El Reno, OK.

What is the asking price?

The asking price for this property is $450,000.

What are key features of this property?

This property features: 6,000 SF flex property with 4 units; 2 of 4 units are occupied by 2 long‑term tenants; Leases are in place through July, 2028