Standalone Retail
For Sale
Contact for pricing
1821 S AIR DEPOT BLVD, Midwest City, OK 73110
Freestanding retail space with a single commercial unit and a compact footprint.
Property Size2,183 SF
Price / SF$341.27
Days on Market122
Property Features for 1821 S AIR DEPOT BLVD
General Information
Standard status
Active
Size
2,183 SF
Property subtype
Retail
Investment Type
Owner/User
Building Details
Year Built
1954
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Skybridge Real Estate
Listed By:
Heather Rainer · License #154115
(405) 922-0809
Source:
Crexi
Added: May 4
Changed: Aug 30
Last Checked: Aug 31 at 9:57AM
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 Skybridge Real Estate
Investment Insights
Based on property information with market context.
This standalone storefront contains 2,183 square feet configured as one retail unit. The property was built in 1954 and is located at 1821 S Air Depot Blvd in Midwest City, Oklahoma.
Key Highlights
- 2,183 SF retail building
- Single commercial unit
- Standalone storefront configuration
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
$23,042
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
3.09%
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%
$460,840
$460.8K
Cap Rate 7%
$329,171
$329.2K
Cap Rate 9%
$256,022
$256.0K
Market Conditions
NOI Build-Up for 2,183 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
$36.4K $16.68/SF
− Vacancy
−$3.5K −$1.60/SF
EGI
$32.9K $15.08/SF
− OpEx
−$9.9K −$4.52/SF
NOI
$23.0K $10.56/SF
Area
Oklahoma County, OK
Vacancy
9.60%
Lease Rate
$16.68 /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%
$460,840
Cap Rate 7%
$329,171
Cap Rate 9%
$256,022
Alternative Uses
Best Use
Retail
$329.2K
$288.0K – $384.0K
NOI $23,042 @ 7.0% cap · market cap 3.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$454.7K
$397.9K – $530.5K
NOI $31,828 @ 7.0% cap · market cap 4.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
742
Businesses Nearby
215k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 57%
Shops & Services 41%
Beauty & Spa 2%
Home Improvements & Furnishings 1%
McDonald's
Dining
29,885 visits/mo
0.3 miles
Ollie's Bargain Outlet
Shops & Services
29,312 visits/mo
0.4 miles
Dollar Tree
Shops & Services
25,050 visits/mo
0.3 miles
IHOP
Dining
12,151 visits/mo
0.3 miles
Jimmy's Egg
Dining
11,959 visits/mo
0.3 miles
Demographics for 73110, OK
33,156
Population
15,826
Households
2.1
Avg Household Size
35
Median Age
20%
College-Educated
91%
High-School Grad
15.5 sq mi
ZIP Area
2,139
Density / Sq Mi
$50,436
Median Household Income
$35,043
Median Earnings
$1,007
Median Rent
$119,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Sam's Club Floral — 6521 SE 29th St, Midwest City, OK 73110
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Frequently Asked Questions
What type of property is this?
Storefront property - Freestanding retail space with a single commercial unit and a compact footprint.
Where is this storefront property located?
The property is located at 1821 S AIR DEPOT BLVD Midwest City, OK.
What is the asking price?
The asking price for this property is $745,000.
What are key features of this property?
This property features: 2,183 SF retail building; Single commercial unit; Standalone storefront configuration
