2023 Single-Story Flexible-Use
For Sale
Contact for pricing
2228 SW 104th St, Oklahoma City, OK 73159
A 2023-built, single-story building previously used as a childcare center, offering flexible interior space and ample parking.
Property Size10,000 SF
Price / SF$300
Days on Market469
Property Features for 2228 SW 104th St
General Information
Standard status
Active
Size
10,000 SF
Property subtype
RETAIL
Listing Agency:
Wiggin Properties - Tulsa
(918) 935-2010
Listed By:
Grant Stewart, CCIM · License #140822
(918) 645-7679
Source:
Moodyscre
Added: Jun 2, 2025
Changed: Aug 14
Last Checked: Sep 12 at 11:28AM
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 Wiggin Properties - Tulsa
Investment Insights
Based on property information with market context.
This 10,000 SF, single-story commercial building was constructed in 2023 and was formerly a childcare facility. The interior layout is described as flexible, making the property suitable for educational, medical, office, or community use, depending on how a tenant or buyer wants to configure the space.
The property sits on a 1.48-acre lot at 2228 SW 104th St in Oklahoma City, offering visibility and access. The offering also highlights ample parking to support customer or staff arrivals.
With modern construction and a versatile former childcare configuration, the building is presented as a practical option for organizations looking to repurpose an existing facility for multiple potential uses.
The property sits on a 1.48-acre lot at 2228 SW 104th St in Oklahoma City, offering visibility and access. The offering also highlights ample parking to support customer or staff arrivals.
With modern construction and a versatile former childcare configuration, the building is presented as a practical option for organizations looking to repurpose an existing facility for multiple potential uses.
Key Highlights
- 10,000 SF single‑story commercial building built in 2023
- Former childcare facility with interior space suited for multiple uses
- Versatile for educational, medical, office, or community use (per listing)
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
$162,000
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
5.40%
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%
$3,240,000
$3.2M
Cap Rate 7%
$2,314,286
$2.3M
Cap Rate 9%
$1,800,000
$1.8M
Market Conditions
NOI Build-Up for 10,000 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
$300.0K $30.00/SF
− Vacancy
−$30.0K −$3.00/SF
EGI
$270.0K $27.00/SF
− OpEx
−$108.0K −$10.80/SF
NOI
$162.0K $16.20/SF
Area
ZIP 73159
Vacancy
10.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
40.00%
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%
$3,240,000
Cap Rate 7%
$2,314,286
Cap Rate 9%
$1,800,000
Alternative Uses
Best Use
Healthcare Medical
$2.31M
$2.03M – $2.70M
NOI $162,000 @ 7.0% cap · market cap 5.40%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.96M
$2.59M – $3.45M
NOI $207,000 @ 7.0% cap · market cap 6.90%
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
602
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 73159, OK
32,981
Population
13,618
Households
2.4
Avg Household Size
33
Median Age
17%
College-Educated
85%
High-School Grad
13.7 sq mi
ZIP Area
2,407
Density / Sq Mi
$56,369
Median Household Income
$36,125
Median Earnings
$1,119
Median Rent
$144,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Abba's House Child Care — 11121 Katie Beth Ln, Oklahoma City, OK 73170
- Next Generation Child Care Center — 10324 Greenbriar Pkwy, Oklahoma City, OK 73159
Frequently Asked Questions
What type of property is this?
Day care center - A 2023-built, single-story building previously used as a childcare center, offering flexible interior space and ample parking.
Where is this day care center located?
The property is located at 2228 SW 104th St Oklahoma City, OK.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 10,000 SF single‑story commercial building built in 2023; Former childcare facility with interior space suited for multiple uses; Versatile for educational, medical, office, or community use (per listing)
