Retail Space Near Air Force
For Sale
Contact for pricing
212 S Air Depot Blvd, Oklahoma City, OK
Retail property with high traffic exposure near Tinker Air Force Base.
Property Size4,162 SF
Lot Size0.95 Acres
Price / SF$258.29
Days on Market1263
Property Features for 212 S Air Depot Blvd
General Information
Standard status
Active
Size
4,162 SF
Lot size
0.95 Acres
Property subtype
RETAIL
Listing Agency:
Herndon & Kelley Commercial Real Estate
Listed By:
Todd Herndon · License #076548
(405) 848-8099
Source:
Moodyscre
Added: Mar 30, 2023
Changed: Sep 4
Last Checked: Sep 12 at 10:11AM
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 Herndon & Kelley Commercial Real Estate
Investment Insights
Based on property information with market context.
This retail property offers 4,162 square feet of space on a 0.9-acre lot. The property benefits from high north-south traffic exposure on Air Depot Boulevard and is located approximately 1.75 miles from Tinker Air Force Base. The annual rent is $62,400.00 (yearly average).
Key Highlights
- Annual rent is $62,400.00 (Yearly Average)
- Great exposure to high N/S traffic on Air Depot
- 1 ¾ miles to Tinker Air Force Base
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
$82,158
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
7.64%
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%
$1,643,160
$1.6M
Cap Rate 7%
$1,173,686
$1.2M
Cap Rate 9%
$912,867
$912.9K
Market Conditions
NOI Build-Up for 4,162 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
$124.9K $30.00/SF
− Vacancy
−$7.5K −$1.80/SF
EGI
$117.4K $28.20/SF
− OpEx
−$35.2K −$8.46/SF
NOI
$82.2K $19.74/SF
Area
Oklahoma City, OK
Vacancy
6.00%
Lease Rate
$30.00 /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%
$1,643,160
Cap Rate 7%
$1,173,686
Cap Rate 9%
$912,867
Alternative Uses
Best Use
Retail
$1.17M
$1.03M – $1.37M
NOI $82,158 @ 7.0% cap · market cap 7.64%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.42M
$1.25M – $1.66M
NOI $99,638 @ 7.0% cap · market cap 9.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
409
Businesses Nearby
173k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 45%
Apparel 24%
Groceries 11%
Shops & Services 7%
Ross Dress for Less
Apparel
23,201 visits/mo
0.1 miles
Braum's Ice Cream & Dairy Stores
Dining
20,471 visits/mo
0.3 miles
Aldi
Groceries
18,299 visits/mo
0.4 miles
Taco Casa
Dining
17,491 visits/mo
0.4 miles
SONIC Drive In
Dining
16,440 visits/mo
0.2 miles
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Oklahoma City, OK
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Retail property with high traffic exposure near Tinker Air Force Base.
Where is this retail space located?
The property is located at 212 S Air Depot Blvd Oklahoma City, OK.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: Annual rent is $62,400.00 (Yearly Average); Great exposure to high N/S traffic on Air Depot; 1 ¾ miles to Tinker Air Force Base
