Flex Industrial Campus with
For Sale
$2,799,000
2400 North Wilburn Avenue, Bethany, OK 73008
Mixed-use commercial campus with flex, retail, and office potential, durable site improvements, and access from two streets.
Property Size24,000 SF
Days on Market196
Property Features for 2400 North Wilburn Avenue
General Information
Standard status
Active
Size
24,000 SF
Property subtype
Industrial
Zoning
I-2
Additional Details
Road Access
Yes
Clear Height
20 ft
Building Details
Building Size
24,000 SF
Buildings
4
Construction
contemporary
Listing Agency:
BANTA Property Group
Listed By:
Greg Banta · License #109170
(405) 840-1600
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 29
Last Checked: Aug 29 at 5:02PM
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 BANTA Property Group
Investment Insights
Based on property information with market context.
This I-2-zoned commercial campus at 2400 North Wilburn Avenue includes three flex industrial buildings and a separate retail building fronting NW 23rd Street. Improvements include contemporary construction, concrete parking and driveways, 20-foot clear ceiling heights, and 14-foot grade-level roll-up doors. The property is positioned for business occupancy alongside rental income from existing assets.
Access is available from both NW 23rd Street and Wilburn Avenue in Bethany, Oklahoma. The offering also includes adjacent developable land, with a 1.23-acre retail pad site along NW 23rd Street and a separate 2.42-acre tract behind the flex buildings. These additional parcels support future expansion or complementary development within the same I-2-zoned setting.
Access is available from both NW 23rd Street and Wilburn Avenue in Bethany, Oklahoma. The offering also includes adjacent developable land, with a 1.23-acre retail pad site along NW 23rd Street and a separate 2.42-acre tract behind the flex buildings. These additional parcels support future expansion or complementary development within the same I-2-zoned setting.
Key Highlights
- Three flex industrial buildings plus one retail building
- I‑2‑zoned campus with flex, retail, and office potential
- 20‑foot clear ceiling heights and 14‑foot grade‑level roll‑up doors
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
$253,322
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
9.05%
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%
$5,066,440
$5.1M
Cap Rate 7%
$3,618,886
$3.6M
Cap Rate 9%
$2,814,689
$2.8M
Market Conditions
NOI Build-Up for 24,000 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
$400.3K $16.68/SF
− Vacancy
−$38.4K −$1.60/SF
EGI
$361.9K $15.08/SF
− OpEx
−$108.6K −$4.52/SF
NOI
$253.3K $10.56/SF
Area
Oklahoma County, OK
Vacancy
9.60%
Lease Rate
$16.68 /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%
$5,066,440
Cap Rate 7%
$3,618,886
Cap Rate 9%
$2,814,689
Alternative Uses
Best Use
Flex RnD
$4.28M
$3.75M – $4.99M
NOI $299,600 @ 7.0% cap · market cap 10.70%
Second Best
Retail
$3.62M
$3.17M – $4.22M
NOI $253,322 @ 7.0% cap · market cap 9.05%
Theoretical Best
Office A
$5.00M
$4.37M – $5.83M
NOI $349,913 @ 7.0% cap · market cap 12.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
422
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 73008, OK
21,592
Population
8,774
Households
2.5
Avg Household Size
35
Median Age
23%
College-Educated
86%
High-School Grad
7.5 sq mi
ZIP Area
2,879
Density / Sq Mi
$55,981
Median Household Income
$35,320
Median Earnings
$1,072
Median Rent
$163,500
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?
Flex space - Mixed-use commercial campus with flex, retail, and office potential, durable site improvements, and access from two streets.
Where is this flex space located?
The property is located at 2400 North Wilburn Avenue Bethany, OK.
What is the asking price?
The asking price for this property is $2,799,000.
What are key features of this property?
This property features: Three flex industrial buildings plus one retail building; I‑2‑zoned campus with flex, retail, and office potential; 20‑foot clear ceiling heights and 14‑foot grade‑level roll‑up doors
