New Warehouse in Southwest
For Sale
$1,475,000
2421 S Portland Avenue, Oklahoma City, OK 73108
New warehouse with highway access and flexible layout for sale.
Property Size9,000 SF
Days on Market171
Property Features for 2421 S Portland Avenue
General Information
Standard status
Active
Size
9,000 SF
Property subtype
Industrial
Building Details
Building Size
9,000 SF
Year Built
2026
Listing Agency:
Adept Commercial Real Estate
(405) 831-0059
Listed By:
Cody Beat · License #182075
Source:
Adeptcre
Added: Mar 5
Changed: Aug 8
Last Checked: Aug 23 at 3:32AM
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 Adept Commercial Real Estate
Investment Insights
Based on property information with market context.
This brand-new warehouse is for sale in the southwest submarket, offering direct access to S Portland Avenue and seamless connectivity to Interstate 40 and Interstate 44. The property features direct frontage on S Portland Avenue, ensuring excellent accessibility. The warehouse includes four 14’ x 12’ grade-level doors, 400-amp electrical service, two radiant gas heaters, and a shop bathroom. The office area is equipped with two private offices, a reception area, and a bathroom. Clear-span construction provides a flexible, open layout that supports a wide range of floor plan configurations. New LED lighting has been installed throughout the entire property. The expansive concrete parking lot is designed to accommodate both employees and visitors comfortably.
Key Highlights
- Brand new construction (2026) in a desirable southwest submarket.
- Direct access to S Portland Avenue and seamless connectivity to Interstate 40 and Interstate 44.
- Four 14’ x 12’ grade‑level doors for easy access.
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
$71,237
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
4.83%
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%
$1,424,740
$1.4M
Cap Rate 7%
$1,017,671
$1.0M
Cap Rate 9%
$791,522
$791.5K
Market Conditions
NOI Build-Up for 9,000 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
$86.4K $9.60/SF
− Vacancy
−$2.6K −$0.29/SF
EGI
$83.8K $9.31/SF
− OpEx
−$12.6K −$1.40/SF
NOI
$71.2K $7.92/SF
Area
Oklahoma City, OK
Vacancy
3.00%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
15.00%
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%
$1,424,740
Cap Rate 7%
$1,017,671
Cap Rate 9%
$791,522
Alternative Uses
Best Use
Warehouse
$1.02M
$890.5K – $1.19M
NOI $71,237 @ 7.0% cap · market cap 4.83%
Second Best
Industrial
$781.7K
$684.0K – $911.9K
NOI $54,716 @ 7.0% cap · market cap 3.71%
Theoretical Best
Specialty Retail
$3.08M
$2.69M – $3.59M
NOI $215,460 @ 7.0% cap · market cap 14.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
259
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 73108, OK
14,451
Population
6,221
Households
2.3
Avg Household Size
30
Median Age
4%
College-Educated
56%
High-School Grad
7.6 sq mi
ZIP Area
1,901
Density / Sq Mi
$35,278
Median Household Income
$31,017
Median Earnings
$799
Median Rent
$75,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Self-Storage at U-Haul — 3101 SW 29th St, Oklahoma City, OK 73119
Frequently Asked Questions
What type of property is this?
Warehouse - New warehouse with highway access and flexible layout for sale.
Where is this warehouse located?
The property is located at 2421 S Portland Avenue Oklahoma City, OK.
What is the asking price?
The asking price for this property is $1,475,000.
What are key features of this property?
This property features: Brand new construction (2026) in a desirable southwest submarket.; Direct access to S Portland Avenue and seamless connectivity to Interstate 40 and Interstate 44.; Four 14’ x 12’ grade‑level doors for easy access.
