Two-Building Industrial Flex
For Sale
$868,490
Pending
1835 Industrial Boulevard, Norman, OK 73069
Two warehouse buildings with a climate-controlled office and fenced, gated yard for secure operational storage.
Property Size9,142 SF
Lot Size0.54 Acres
Days on Market69
Property Features for 1835 Industrial Boulevard
General Information
Standard status
Pending
Size
9,142 SF
Lot size
0.54 Acres
Zoning
Industrial
Additional Details
Fenced Yard
Yes
Drive-In Doors
5
Building Details
Year Built
1972
Stories
1
Listing Agency:
Brick and Beam Realty
(405) 435-3572
Listed By:
Chris Johnson · License #200452
(405) 435-3572
Source:
Evrealestate
Added: Jun 17
Changed: Aug 23
Last Checked: Aug 24 at 4:54AM
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 Brick and Beam Realty
Investment Insights
Based on property information with market context.
1835 Industrial Blvd consists of two separate warehouse buildings totaling 9,142 SF on a 0.54-acre lot, including an approximately 7,500 SF fenced and gated yard. The main building includes a climate-controlled office area with four private offices, two restrooms, a breakroom, an IT room, a conference room, and dedicated storage space. The warehouse portion features five 10’x12’ overhead doors, LED lighting, heat, and 11.5-foot clear heights. Both structures are built with block construction, and the main building has a newer roof.
The property is located along Industrial Blvd in an OKC industrial corridor. It offers direct, practical access to the secured outdoor yard, supporting storage needs tied to warehouse operations.
This layout works well for owner-users and tenants seeking a combination of warehouse space and functional office support in the same facility, along with on-site, fenced yard storage. The multiple overhead doors and clear height support day-to-day receiving, staging, and distribution activity, while the office buildout can accommodate administrative, IT, and meeting needs without requiring separate off-site space.
The property is located along Industrial Blvd in an OKC industrial corridor. It offers direct, practical access to the secured outdoor yard, supporting storage needs tied to warehouse operations.
This layout works well for owner-users and tenants seeking a combination of warehouse space and functional office support in the same facility, along with on-site, fenced yard storage. The multiple overhead doors and clear height support day-to-day receiving, staging, and distribution activity, while the office buildout can accommodate administrative, IT, and meeting needs without requiring separate off-site space.
Key Highlights
- Two warehouse buildings totaling 9,142 SF on a 0.54‑acre lot (OKC industrial corridor).
- Approximately 7,500 SF fenced and gated yard for secure outdoor storage.
- Office area includes 4 private offices, 2 restrooms, breakroom, IT room, and conference room.
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
$65,740
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
7.57%
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%
$1,314,800
$1.3M
Cap Rate 7%
$939,143
$939.1K
Cap Rate 9%
$730,444
$730.4K
Market Conditions
NOI Build-Up for 9,142 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
$82.3K $9.00/SF
− Vacancy
−$4.9K −$0.54/SF
EGI
$77.3K $8.46/SF
− OpEx
−$11.6K −$1.27/SF
NOI
$65.7K $7.19/SF
Area
Norman, OK
Vacancy
6.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$1,314,800
Cap Rate 7%
$939,143
Cap Rate 9%
$730,444
Alternative Uses
Best Use
Warehouse
$939.1K
$821.8K – $1.10M
NOI $65,740 @ 7.0% cap · market cap 7.57%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.58M
$1.38M – $1.84M
NOI $110,582 @ 7.0% cap · market cap 12.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
244
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 73069, OK
26,464
Population
12,719
Households
2.1
Avg Household Size
32
Median Age
45%
College-Educated
93%
High-School Grad
15.7 sq mi
ZIP Area
1,686
Density / Sq Mi
$55,699
Median Household Income
$34,151
Median Earnings
$1,031
Median Rent
$212,400
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.
Similar Off Market Nearby
- Sunshine Self Storage — 429 E Robinson St, Norman, OK 73071
- SecurCare Self Storage — 2002 Research Park Blvd, Norman, OK 73069
Frequently Asked Questions
What type of property is this?
Warehouse - Two warehouse buildings with a climate-controlled office and fenced, gated yard for secure operational storage.
Where is this warehouse located?
The property is located at 1835 Industrial Boulevard Norman, OK.
What is the asking price?
The asking price for this property is $868,490.
What are key features of this property?
This property features: Two warehouse buildings totaling 9,142 SF on a 0.54‑acre lot (OKC industrial corridor).; Approximately 7,500 SF fenced and gated yard for secure outdoor storage.; Office area includes 4 private offices, 2 restrooms, breakroom, IT room, and conference room.
