Listing Agency: Creek Price Edwards and Company - Oklahoma City Show Phone

Listed By: Chris Roberts Show Phone

Source: Moodyscre

Added: Jul 8, 2025 Changed: Oct 25 Last Checked: Oct 30 at 12:50PM

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Investment Insights

Based on property information with market context.

This flex space includes a warehouse area with office support. The building height is 16', with one dock door and two 10' x 12' drive-in doors. Interior amenities are office-focused, with 8 individual offices plus a reception area and a break room. Office restroom facilities include two office restrooms, and the warehouse has one additional restroom.

Operationally, the site provides 15 parking spots and the drive-in access supports flexible receiving or service use. The combination of docks, drive-in doors, and dedicated office space can work well for teams that need both warehouse functionality and daily customer or administrative space.

The property is sized at 12,000 SF and is offered for sale.

Key Highlights

• 16' building height
• One dock door
• Two 10' x 12' drive‑in doors

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$94,982

Cap Rate

7.04%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,899,640 $1.9M

Cap Rate 7%

$1,356,886 $1.4M

Cap Rate 9%

$1,055,356 $1.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 12,000 SF

Gross rent

$115.2K $9.60/SF

− Vacancy

−$3.5K −$0.29/SF

EGI

$111.7K $9.31/SF

− OpEx

−$16.8K −$1.40/SF

NOI

$95.0K $7.92/SF

Area

Oklahoma City, OK

Vacancy

3.00%

Lease Rate

$9.60 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,899,640

Cap Rate 7%

$1,356,886

Cap Rate 9%

$1,055,356

Alternative Uses

Best Use

Flex RnD

$2.31M

$2.02M – $2.70M (±1% cap)

NOI $161,741 @ 7.0% cap · market cap 11.98%

Second Best

Warehouse

$1.36M

$1.19M – $1.58M (±1% cap)

NOI $94,982 @ 7.0% cap · market cap 7.04%

Theoretical Best

Specialty Retail

$4.10M

$3.59M – $4.79M (±1% cap)

NOI $287,280 @ 7.0% cap · market cap 21.28%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Law Firm Real Estate Agency Parking Lot & Garage Bakery Furniture & Home Goods Dental Office

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

Lease Details

16 ft

Clear height

1

Dock-high doors

2

Drive-in doors

Location Intelligence

Trade Area within ½ mile

416

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 73129, OK

19,971

Population

7,569

Households

2.6

Avg Household Size

31

Median Age

6%

College-Educated

67%

High-School Grad

12.5 sq mi

ZIP Area

1,598

Density / Sq Mi

$43,941

Median Household Income

$28,481

Median Earnings

$914

Median Rent

$76,400

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

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Frequently Asked Questions

What type of property is this?

Flex space - Flex space featuring a single dock door, 8 offices, break room, and two 10' x 12' drive-in doors.

Where is this flex space located?

The property is located at 1901 SE 29th St Oklahoma City, OK.

What is the asking price?

The asking price for this property is $1,350,000.

What are key features of this property?

This property features: 16' building height; One dock door; Two 10' x 12' drive‑in doors