Flex Space with Dock-High
For Sale
$425,000
Pending
2 N Pennsylvania Avenue, Oklahoma City, OK 73107
Flex building with showroom skylights, multiple offices, and a warehouse setup for loading and deliveries.
Property Size5,000 SF
Days on Market62
Property Features for 2 N Pennsylvania Avenue
General Information
Standard status
Pending
Size
5,000 SF
Total Parking Spaces
27
Property subtype
Warehouse
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Clear Height
12 ft
Office Build-Out
520 SF
Dock-High Doors
2
Drive-In Doors
1
Power
100 amps
Three-Phase Power
No
Amenities
security system
retail storefront
breakroom
restrooms
Building Details
Building Size
5,000 SF
Year Built
1995
Listing Agency:
Brick and Beam Realty
Listed By:
Chris Johnson · License #200452
(903) 583-8538
Source:
Stetsonbentley
Added: Jul 17
Changed: Sep 6
Last Checked: Sep 15 at 8:52AM
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.
This flex space combines an office/showroom component with warehouse functionality, supporting multiple commercial uses. The office area includes six offices (five 8'x10' and one 12'x10'), a breakroom, and men's and women's restrooms. The bright showroom features ceiling fans and skylights.
The warehouse offers 12' clear height, two dock-high doors, and one drive-in ramp. Power is provided via 100-amp single-phase service, along with a space heater. The building also includes a security system and a retail storefront with street signage.
Outside, there are 27 parking spaces, including ADA. A fenced, gated backyard adds added secure storage or controlled access for operations. Built in 1995 and located just 1/4 mile north of I-40, the property is set up for buyers considering retail, office, or showroom use and is described as available for lease as well.
The warehouse offers 12' clear height, two dock-high doors, and one drive-in ramp. Power is provided via 100-amp single-phase service, along with a space heater. The building also includes a security system and a retail storefront with street signage.
Outside, there are 27 parking spaces, including ADA. A fenced, gated backyard adds added secure storage or controlled access for operations. Built in 1995 and located just 1/4 mile north of I-40, the property is set up for buyers considering retail, office, or showroom use and is described as available for lease as well.
Key Highlights
- Warehouse with 12' clear height
- Two dock‑high doors plus one drive‑in ramp
- Six offices plus breakroom and men's and women's restrooms
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
$30,397
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
7.15%
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%
$607,940
$607.9K
Cap Rate 7%
$434,243
$434.2K
Cap Rate 9%
$337,744
$337.7K
Market Conditions
NOI Build-Up for 5,000 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
$45.0K $9.00/SF
− Vacancy
−$1.6K −$0.32/SF
EGI
$43.4K $8.69/SF
− OpEx
−$13.0K −$2.61/SF
NOI
$30.4K $6.08/SF
Area
Oklahoma City, OK
Vacancy
3.50%
Lease Rate
$9.00 /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%
$607,940
Cap Rate 7%
$434,243
Cap Rate 9%
$337,744
Alternative Uses
Best Use
Flex RnD
$962.7K
$842.4K – $1.12M
NOI $67,392 @ 7.0% cap · market cap 15.86%
Second Best
Warehouse
$565.4K
$494.7K – $659.6K
NOI $39,576 @ 7.0% cap · market cap 9.31%
Theoretical Best
Specialty Retail
$1.71M
$1.50M – $2.00M
NOI $119,700 @ 7.0% cap · market cap 28.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
12 ft
Clear height
2
Dock-high doors
1
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
367
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 73107, OK
26,318
Population
12,621
Households
2.1
Avg Household Size
34
Median Age
31%
College-Educated
80%
High-School Grad
7.6 sq mi
ZIP Area
3,463
Density / Sq Mi
$58,428
Median Household Income
$38,753
Median Earnings
$1,014
Median Rent
$143,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Flex building with showroom skylights, multiple offices, and a warehouse setup for loading and deliveries.
Where is this flex space located?
The property is located at 2 N Pennsylvania Avenue Oklahoma City, OK.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Warehouse with 12' clear height; Two dock‑high doors plus one drive‑in ramp; Six offices plus breakroom and men's and women's restrooms
