Two Adjacent Commercial
For Sale
Contact for pricing
2508 W I 44 Service Rd, Oklahoma City, OK 73112
Two income-producing adjacent buildings with flexible commercial and office-ready space off I-44 and Route 66.
Property Size1,144 SF
Lot Size0.21 Acres
Price / SF$284.09
Days on Market67
Property Features for 2508 W I 44 Service Rd
General Information
Standard status
Active
Size
1,144 SF
Lot size
0.21 Acres
Property subtype
Retail, Office
Zoning
C-3 Commercial
Investment Type
Owner/User
Additional Details
Highway Access
Yes
Listing Agency:
eXp Commercial
Listed By:
Vanessa Johnson · License #OK 148676
Source:
Crexi
Added: Jun 17
Changed: Aug 8
Last Checked: Aug 21 at 11:51AM
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 eXp Commercial
Investment Insights
Based on property information with market context.
This offering includes two adjacent commercial properties sold together. The main building at 2508 W I-44 Service Rd is a C-3 zoned commercial structure with approximately 1,144 square feet on a 0.2058-acre lot, providing flexible interior space for retail, office, showroom, service-based businesses, or other commercial uses. The second building at 2504 W I-44 Service Rd totals approximately 870 square feet on an additional 0.2058-acre lot and is configured with 2 bedrooms and 1 bathroom. It is zoned for commercial office use.
The package is positioned in a high-visibility Oklahoma City corridor with convenient access to I-44, historic Route 66, and major business corridors. The combined site arrangement and commercial zoning support a range of owner-user and tenant configurations, depending on the intended business model.
For business owners, the mix of C-3 flexible space and commercial office zoning can support professional services such as medical, dental, legal, insurance, or consulting, along with other compatible retail or service uses. For investors, the two buildings provide separate structures within a single purchase, offering practical options for leasing or continued owner occupancy based on each building’s layout and zoning.
The package is positioned in a high-visibility Oklahoma City corridor with convenient access to I-44, historic Route 66, and major business corridors. The combined site arrangement and commercial zoning support a range of owner-user and tenant configurations, depending on the intended business model.
For business owners, the mix of C-3 flexible space and commercial office zoning can support professional services such as medical, dental, legal, insurance, or consulting, along with other compatible retail or service uses. For investors, the two buildings provide separate structures within a single purchase, offering practical options for leasing or continued owner occupancy based on each building’s layout and zoning.
Key Highlights
- Two adjacent commercial properties sold together: 2508 W I‑44 Service Rd and 2504 W I‑44 Service Rd
- 2508 W I‑44 Service Rd: C‑3 zoned commercial building with approx. 1,144 SF on a 0.2058‑acre lot
- 2504 W I‑44 Service Rd: approx. 870 SF building on a 0.2058‑acre lot, zoned for commercial office use
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
$22,583
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
6.95%
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%
$451,660
$451.7K
Cap Rate 7%
$322,614
$322.6K
Cap Rate 9%
$250,922
$250.9K
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
$34.3K $30.00/SF
− Vacancy
−$2.1K −$1.80/SF
EGI
$32.3K $28.20/SF
− OpEx
−$9.7K −$8.46/SF
NOI
$22.6K $19.74/SF
Area
Oklahoma City, OK
Vacancy
6.00%
Lease Rate
$30.00 /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%
$451,660
Cap Rate 7%
$322,614
Cap Rate 9%
$250,922
Alternative Uses
Best Use
Retail
$322.6K
$282.3K – $376.4K
NOI $22,583 @ 7.0% cap · market cap 6.95%
Second Best
Office B
$232.5K
$203.5K – $271.3K
NOI $16,276 @ 7.0% cap · market cap 5.01%
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
Property Profile
Current Use
Lease Details
Yes
Highway 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
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?
Retail space - Two income-producing adjacent buildings with flexible commercial and office-ready space off I-44 and Route 66.
Where is this retail space located?
The property is located at 2508 W I 44 Service Rd 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 properties sold together: 2508 W I‑44 Service Rd and 2504 W I‑44 Service Rd; 2508 W I‑44 Service Rd: C‑3 zoned commercial building with approx. 1,144 SF on a 0.2058‑acre lot; 2504 W I‑44 Service Rd: approx. 870 SF building on a 0.2058‑acre lot, zoned for commercial office use
