NNN Industrial
For Sale
Contact for pricing
204 S Hominy Avenue, Skiatook, OK 74070
Climate-controlled industrial building leased under an absolute NNN structure with dedicated drive-in access and tenant-maintained improvements.
Property Size8,844 SF
Lot Size0.77 Acres
Price / SF$81.41
Days on Market10
Property Features for 204 S Hominy Avenue
General Information
Standard status
Active
Size
8,844 SF
Lot size
0.77 Acres
Property subtype
Industrial, Mixed Use
Net Operating Income
$54,000
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
2
Power
400 amps
Three-Phase Power
Yes
Conditioned Warehouse
Yes
Additional Details
Cap Rate
7.5%
Building Details
Year Built
2004
Buildings
1
Building Size
8,844 SF
Listing Agency:
Henry Hinds Realty, LLC
Listed By:
Deren Huang · License #OK 173779
Source:
Crexi
Added: Aug 11
Changed: Aug 20
Last Checked: Aug 19 at 10:47PM
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 Henry Hinds Realty, LLC
Investment Insights
Based on property information with market context.
This 8,844-square-foot industrial building was completed in 2004 and occupies 0.77 acres. The facility is fully climate controlled and includes two drive-in doors, 16-foot clear height, and 400A 3-phase power. The property is leased to H&H Cabinets under an absolute NNN lease, with the tenant responsible for maintenance and repairs.
H&H Cabinets has occupied the building for more than 10 years. A five-year lease extension begins in November 2026, with 3% annual rent increases during the extension term. The property is located at 204 S Hominy Avenue in Skiatook, Oklahoma.
H&H Cabinets has occupied the building for more than 10 years. A five-year lease extension begins in November 2026, with 3% annual rent increases during the extension term. The property is located at 204 S Hominy Avenue in Skiatook, Oklahoma.
Key Highlights
- 8,844 SF industrial building on 0.77 acres
- Absolute NNN lease with tenant responsible for maintenance and repairs
- 7.5% going‑in cap rate
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
$57,170
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
7.94%
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%
$1,143,400
$1.1M
Cap Rate 7%
$816,714
$816.7K
Cap Rate 9%
$635,222
$635.2K
Market Conditions
NOI Build-Up for 8,844 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
$69.0K $7.80/SF
− Vacancy
−$1.7K −$0.20/SF
EGI
$67.3K $7.60/SF
− OpEx
−$10.1K −$1.14/SF
NOI
$57.2K $6.46/SF
Area
Tulsa County, OK
Vacancy
2.50%
Lease Rate
$7.80 /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%
$1,143,400
Cap Rate 7%
$816,714
Cap Rate 9%
$635,222
Alternative Uses
Best Use
Warehouse
$816.7K
$714.6K – $952.8K
NOI $57,170 @ 7.0% cap · market cap 7.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.99M
$1.74M – $2.33M
NOI $139,524 @ 7.0% cap · market cap 19.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
261
Businesses Nearby
Explore this area
Business Placement
Demographics for 74070, OK
15,407
Population
6,179
Households
2.5
Avg Household Size
40
Median Age
22%
College-Educated
90%
High-School Grad
195.9 sq mi
ZIP Area
79
Density / Sq Mi
$63,777
Median Household Income
$39,518
Median Earnings
$951
Median Rent
$208,400
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?
NNN property - Climate-controlled industrial building leased under an absolute NNN structure with dedicated drive-in access and tenant-maintained improvements.
Where is this nnn property located?
The property is located at 204 S Hominy Avenue Skiatook, OK.
What is the asking price?
The asking price for this property is $720,000.
What are key features of this property?
This property features: 8,844 SF industrial building on 0.77 acres; Absolute NNN lease with tenant responsible for maintenance and repairs; 7.5% going‑in cap rate
