New Construction Flex Space
For Sale
$495,000
16915 West Hefner Road, El Reno, OK 73036
New construction flex space with multi-tenant options, available February 2025.
Property Size4,000 SF
Days on Market176
Property Features for 16915 West Hefner Road
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Industrial
Building Details
Building Size
4,000 SF
Year Built
2025
Listing Agency:
NAI RED Commercial Real Estate
(405) 641-9798
Listed By:
Bob Sullivan · License #OK #111159
(405) 641-9798
Source:
Naiglobal
Added: Mar 6
Changed: Aug 14
Last Checked: Aug 29 at 6:01AM
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 NAI RED Commercial Real Estate
Investment Insights
Based on property information with market context.
This new construction property, slated for completion in February 2025, offers multiple configuration options suitable for multi-tenant usage. The layout includes 800 square feet of office space, along with two 40-foot by 40-foot shop spaces. The building features four 12-foot by 14-foot ground-level overhead doors on the front and two 12-foot by 12-foot ground-level overhead doors on the back. Each shop space is equipped with its own restroom. A wash bay with an oil/water separator is included. The property benefits from spray foam insulation. Each suite is provided with 200 Amps of electricity. Utilities include well-water and a septic system. The building offers clear heights of 15 feet at the eaves and 18 feet at the peak. The property is located outside El Reno city limits.
Key Highlights
- New construction, ready February 2025
- Multiple configuration options for multi‑tenant usage
- Benefit from (4) 12'x14’ ground level overhead doors on front of building
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
$24,837
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
5.02%
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%
$496,740
$496.7K
Cap Rate 7%
$354,814
$354.8K
Cap Rate 9%
$275,967
$276.0K
Market Conditions
NOI Build-Up for 4,000 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
$38.4K $9.60/SF
− Vacancy
−$2.9K −$0.73/SF
EGI
$35.5K $8.87/SF
− OpEx
−$10.6K −$2.66/SF
NOI
$24.8K $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 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%
$496,740
Cap Rate 7%
$354,814
Cap Rate 9%
$275,967
Alternative Uses
Best Use
Industrial
$354.8K
$310.5K – $414.0K
NOI $24,837 @ 7.0% cap · market cap 5.02%
Second Best
Flex RnD
$320.2K
$280.2K – $373.6K
NOI $22,417 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$871.0K
$762.1K – $1.02M
NOI $60,967 @ 7.0% cap · market cap 12.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - New construction flex space with multi-tenant options, available February 2025.
Where is this flex space located?
The property is located at 16915 West Hefner Road El Reno, OK.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: New construction, ready February 2025; Multiple configuration options for multi‑tenant usage; Benefit from (4) 12'x14’ ground level overhead doors on front of building
