Two-Building Office
For Sale
$325,000
2508 W I 44 Service Road, Oklahoma City, OK 73112
Commercial Sale, Oklahoma City, OK
Property Size1,144 SF
Lot Size0.21 Acres
Price / SF$284.09
Days on Market194
Property Features for 2508 W I 44 Service Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Commercial
Directions
Package sale includes adjacent property at 2504 W I-44 Service Rd. From NW 39th St. and May Go East and follow the Frontage road to Chicago St. The property is on the south side.
Standard status
Active
APN
2508WI44Service73112
Size
1,144 SF
Lot size
0.21 Acres
Building Details
Year built
1946
Listing Agency:
EXP Realty LLC (BO)
(888) 560-3964
Listed By:
Vanessa Johnson
(405) 615-1655
Added: Mar 12
Changed: Aug 24
Last Checked: Sep 21 at 10:06AM
MLS# 1218529
Copyright © 2026 MLSOK, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This offering includes two adjacent commercial buildings sold together. The primary property at 2508 W I-44 Service Rd contains approximately 1,144 square feet within a 0.2058-acre lot and carries C-3 zoning. The second building, located at 2504 W I-44 Service Rd, provides approximately 870 square feet of office space on a separate 0.2058-acre lot. Its layout includes 2 private offices and 1 bathroom.
Built in 1946, the properties occupy an Oklahoma City corridor near I-44 and historic Route 66. The address provides access to major commercial corridors, with frontage and visibility along the service road. The buildings are offered as a single commercial package, with the primary structure suited to flexible commercial occupancy and the smaller building configured for office use.
Built in 1946, the properties occupy an Oklahoma City corridor near I-44 and historic Route 66. The address provides access to major commercial corridors, with frontage and visibility along the service road. The buildings are offered as a single commercial package, with the primary structure suited to flexible commercial occupancy and the smaller building configured for office use.
Key Highlights
- Two adjacent commercial buildings sold together
- Primary building offers approximately 1,144 square feet on a 0.2058‑acre lot
- Second building provides approximately 870 square feet on a 0.2058‑acre lot
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
$16,276
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
5.01%
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%
$325,520
$325.5K
Cap Rate 7%
$232,514
$232.5K
Cap Rate 9%
$180,844
$180.8K
Market Conditions
NOI Build-Up for 1,144 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
$28.6K $24.96/SF
− Vacancy
−$6.9K −$5.99/SF
EGI
$21.7K $18.97/SF
− OpEx
−$5.4K −$4.74/SF
NOI
$16.3K $14.23/SF
Area
Oklahoma City, OK
Vacancy
24.00%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
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%
$325,520
Cap Rate 7%
$232,514
Cap Rate 9%
$180,844
Alternative Uses
Best Use
Office B
$232.5K
$203.5K – $271.3K
NOI $16,276 @ 7.0% cap · market cap 5.01%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$391.2K
$342.3K – $456.5K
NOI $27,387 @ 7.0% cap · market cap 8.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
637
Businesses Nearby
Explore this area
Business Placement
Demographics for 73112, OK
31,113
Population
16,413
Households
1.9
Avg Household Size
37
Median Age
35%
College-Educated
91%
High-School Grad
7.6 sq mi
ZIP Area
4,094
Density / Sq Mi
$57,833
Median Household Income
$39,641
Median Earnings
$1,030
Median Rent
$173,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Oklahoma City, OK
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Commercial offering combines a flexible primary building with a separate professional office near I-44 and Route 66.
Where is this office units located?
The property is located at 2508 W I 44 Service Road Oklahoma City, OK.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two adjacent commercial buildings sold together; Primary building offers approximately 1,144 square feet on a 0.2058‑acre lot; Second building provides approximately 870 square feet on a 0.2058‑acre lot
