Building Details

Year built 2002

Listing Agency: Keller Williams Central OK ED · Keller Williams Realty k***@kw.com Show Phone

Listed By: Rebecca P Field Show Phone

Added: Apr 27 Changed: Aug 19 Last Checked: Sep 1 at 4:06AM

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MLS# 1226262

Copyright © 2026 MLSOK, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This automotive property includes a 784-square-foot metal building completed in 2002. The site carries Commercial zoning and is associated with a wrecker business, making the existing improvements relevant to automotive operations.

The property is located at 21209 SE 59th Street in Newalla, Oklahoma, 74857, with access to the surrounding area near I-40. Its established building and commercial designation provide a straightforward framework for evaluating the site for automotive-related use.

Key Highlights

• 784‑square‑foot metal building
• Built in 2002
• Commercial zoning

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

$15,476

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

7.74%

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%

$309,520 $309.5K

Cap Rate 7%

$221,086 $221.1K

Cap Rate 9%

$171,956 $172.0K

Market Conditions

NOI Build-Up for 784 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

$23.5K $30.00/SF

− Vacancy

−$1.4K −$1.80/SF

EGI

$22.1K $28.20/SF

− OpEx

−$6.6K −$8.46/SF

NOI

$15.5K $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%

$309,520

Cap Rate 7%

$221,086

Cap Rate 9%

$171,956

Alternative Uses

Best Use

Retail

$221.1K

$193.5K – $257.9K (±1% cap)

NOI $15,476 @ 7.0% cap · market cap 7.74%

Second Best

Warehouse

$88.7K

$77.6K – $103.4K (±1% cap)

NOI $6,206 @ 7.0% cap · market cap 3.10%

Theoretical Best

Specialty Retail

$268.1K

$234.6K – $312.8K (±1% cap)

NOI $18,769 @ 7.0% cap · market cap 9.38%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Auto shops

Suggested Use

Top Pick Storage Facility Grocery & Convenience Store Hair Salon Nail Salon Daycare Center Pet Store

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

Turnkey business

Opportunity

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

30

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 74857, OK

9,981

Population

4,243

Households

2.4

Avg Household Size

42

Median Age

23%

College-Educated

87%

High-School Grad

58.3 sq mi

ZIP Area

171

Density / Sq Mi

$87,582

Median Household Income

$50,565

Median Earnings

$1,238

Median Rent

$174,600

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

Questions? Ask Rey

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What type of property is this? Where is this auto shops located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Auto shop - Metal construction and Commercial zoning define this automotive property near I-40.

Where is this auto shop located?

The property is located at 21209 SE 59th Street Newalla, OK.

What is the asking price?

The asking price for this property is $200,000.

What are key features of this property?

This property features: 784‑square‑foot metal building; Built in 2002; Commercial zoning