Leased Two-Building Flex
For Sale
$3,685,000
2213 NW 178th St, Edmond, OK 73012
Fully occupied asset combines warehouse, office, fitness, and event-support areas.
Property Size16,500 SF
Price / SF$223.33
Days on Market25
Property Features for 2213 NW 178th St
General Information
Standard status
Active
Size
16,500 SF
Occupancy
100%
Additional Details
Clear Height
22 ft
Amenities
gym
breakroom/event area
Building Details
Year Built
2020
Buildings
2
Listing Agency:
The Property Center LLC
(405) 474-1228
Listed By:
Abbie Davis · License #155984
Source:
Vibrantok
Added: Aug 6
Changed: Aug 29
Last Checked: Aug 25 at 5:48AM
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 The Property Center LLC
Investment Insights
Based on property information with market context.
Completed in 2020, this two-building flex property contains 16,500 SF of industrial, office, and amenity space. The improvements include warehouse areas, business offices, a fully equipped gym, and a reservable breakroom/event area for gatherings, training, team activities, and private functions. Both buildings are fully leased, providing an operating asset with multiple commercial space components.
Warehouse areas feature 22'+ clear heights and adaptable layouts that can accommodate industrial, storage, distribution, manufacturing, and service-oriented operations. The property is located at 2213 NW 178th St in Edmond, Oklahoma, within a commercial corridor.
Warehouse areas feature 22'+ clear heights and adaptable layouts that can accommodate industrial, storage, distribution, manufacturing, and service-oriented operations. The property is located at 2213 NW 178th St in Edmond, Oklahoma, within a commercial corridor.
Key Highlights
- Two fully leased industrial buildings totaling 16,500 SF
- Built in 2020
- Warehouse areas with 22'+ clear heights
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
$205,975
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
5.59%
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%
$4,119,500
$4.1M
Cap Rate 7%
$2,942,500
$2.9M
Cap Rate 9%
$2,288,611
$2.3M
Market Conditions
NOI Build-Up for 16,500 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
$334.6K $20.28/SF
− Vacancy
−$17.7K −$1.07/SF
EGI
$316.9K $19.21/SF
− OpEx
−$110.9K −$6.72/SF
NOI
$206.0K $12.48/SF
Area
Oklahoma County, OK
Vacancy
5.30%
Lease Rate
$20.28 /SF/Yr
Expense Ratio
35.00%
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%
$4,119,500
Cap Rate 7%
$2,942,500
Cap Rate 9%
$2,288,611
Alternative Uses
Best Use
Flex RnD
$2.94M
$2.57M – $3.43M
NOI $205,975 @ 7.0% cap · market cap 5.59%
Second Best
Office B
$2.67M
$2.33M – $3.11M
NOI $186,599 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$3.44M
$3.01M – $4.01M
NOI $240,565 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
22 ft
Clear height
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
178
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 73012, OK
41,289
Population
16,172
Households
2.6
Avg Household Size
34
Median Age
56%
College-Educated
97%
High-School Grad
34.1 sq mi
ZIP Area
1,211
Density / Sq Mi
$123,528
Median Household Income
$59,000
Median Earnings
$1,779
Median Rent
$295,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Testing — 2409 NW 177th St, Edmond, OK 73012
Frequently Asked Questions
What type of property is this?
Flex space - Fully occupied asset combines warehouse, office, fitness, and event-support areas.
Where is this flex space located?
The property is located at 2213 NW 178th St Edmond, OK.
What is the asking price?
The asking price for this property is $3,685,000.
What are key features of this property?
This property features: Two fully leased industrial buildings totaling 16,500 SF; Built in 2020; Warehouse areas with 22'+ clear heights
