Building Details

Construction clear-span

Listing Agency: ADEPT Commercial Real Estate Show Phone

Listed By: Cody Beat · License #182075 Show Phone

Source: Moodyscre

Added: Mar 13 Changed: Oct 25 Last Checked: Oct 24 at 8:49PM

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Investment Insights

Based on property information with market context.

This flex warehouse includes a clear-span warehouse area designed to support a variety of floor plan configurations. The building is served by four 14’ x 12’ grade-level doors, along with 400-amp electrical service and two radiant gas heaters. A shop bathroom is also included within the warehouse.

The office portion features two private offices, a reception area, and a bathroom, providing a functional separation between work and client-facing space.

Overall, the combination of clear-span warehouse layout and dedicated office improvements makes the property suitable for operations that need both storage/production flexibility and on-site administrative space.

Key Highlights

• Warehouse includes four 14' x 12' grade‑level doors for easy loading and access
• 400‑amp electrical service with two radiant gas heaters
• Clear‑span construction creates a flexible, open layout for multiple floor plan configurations

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$121,306

Cap Rate

9.16%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,426,120 $2.4M

Cap Rate 7%

$1,732,943 $1.7M

Cap Rate 9%

$1,347,844 $1.3M

Is this asking price fair?

Market Conditions

NOI Build-Up for 9,000 SF

Gross rent

$194.4K $21.60/SF

− Vacancy

−$7.8K −$0.86/SF

EGI

$186.6K $20.74/SF

− OpEx

−$65.3K −$7.26/SF

NOI

$121.3K $13.48/SF

Area

Oklahoma City, OK

Vacancy

4.00%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,426,120

Cap Rate 7%

$1,732,943

Cap Rate 9%

$1,347,844

Alternative Uses

Best Use

Office B

$1.83M

$1.60M – $2.13M (±1% cap)

NOI $128,045 @ 7.0% cap · market cap 9.66%

Second Best

Flex RnD

$1.73M

$1.52M – $2.02M (±1% cap)

NOI $121,306 @ 7.0% cap · market cap 9.16%

Theoretical Best

Specialty Retail

$3.08M

$2.69M – $3.59M (±1% cap)

NOI $215,460 @ 7.0% cap · market cap 16.26%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Hair Salon Spa & Massage Center Nail Salon

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

4

Drive-in doors

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 Office in Oklahoma City, OK

10.8% 2023

26.5% 2024

29.6% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Flex warehouse with four grade-level doors, clear-span space, radiant gas heat, and a separate office with two private rooms.

Where is this flex space located?

The property is located at 2421 S Portland Ave Oklahoma City, OK.

What is the asking price?

The asking price for this property is $1,325,000.

What are key features of this property?

This property features: Warehouse includes four 14' x 12' grade‑level doors for easy loading and access; 400‑amp electrical service with two radiant gas heaters; Clear‑span construction creates a flexible, open layout for multiple floor plan configurations