Updated Flex
For Sale
$619,999
2524 NW 2nd St, Oklahoma City, OK 73107
Remodeled facility combines warehouse and office areas with truck parking and refreshed interior and exterior finishes.
Property Size3,500 SF
Price / SF$177.14
Days on Market22
Property Features for 2524 NW 2nd St
General Information
Standard status
Active
Size
3,500 SF
Building Details
Year Built
1985
Listing Agency:
4Two Realty
(405) 816-9074
Listed By:
Brian Coombs
Source:
Vibrantok
Added: Aug 11
Changed: Aug 29
Last Checked: Aug 30 at 8:33PM
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 4Two Realty
Investment Insights
Based on property information with market context.
This 3,500-square-foot flex property combines warehouse and office areas in a building constructed in 1985 and remodeled in 2025. The warehouse is equipped with a new 7.5-ton HVAC system, while the office area has a 3-ton HVAC unit. Additional improvements include new lighting throughout, fresh interior and exterior paint, a kitchenette with granite counters and stainless steel refrigerator, and updated sinks and toilets in both bathrooms. A 300 Sqft mezzanine provides additional storage or office space, and two 12-foot doors support warehouse access.
Located at 2524 2nd Street in Oklahoma City, the property also includes a concrete driveway, RV parking, and a large parking area suitable for work trucks.
Located at 2524 2nd Street in Oklahoma City, the property also includes a concrete driveway, RV parking, and a large parking area suitable for work trucks.
Key Highlights
- 3,500‑square‑foot flex property at 2524 2nd Street, Oklahoma City, OK 73107
- Remodeled and updated in 2025
- New 7.5 ton warehouse HVAC and 3 ton office HVAC
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
$49,795
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
8.03%
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%
$995,900
$995.9K
Cap Rate 7%
$711,357
$711.4K
Cap Rate 9%
$553,278
$553.3K
Market Conditions
NOI Build-Up for 3,500 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
$87.4K $24.96/SF
− Vacancy
−$21.0K −$5.99/SF
EGI
$66.4K $18.97/SF
− OpEx
−$16.6K −$4.74/SF
NOI
$49.8K $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%
$995,900
Cap Rate 7%
$711,357
Cap Rate 9%
$553,278
Alternative Uses
Best Use
Office B
$711.4K
$622.4K – $829.9K
NOI $49,795 @ 7.0% cap · market cap 8.03%
Second Best
Flex RnD
$673.9K
$589.7K – $786.2K
NOI $47,174 @ 7.0% cap · market cap 7.61%
Theoretical Best
Specialty Retail
$1.20M
$1.05M – $1.40M
NOI $83,790 @ 7.0% cap · market cap 13.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
427
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 73107, OK
26,318
Population
12,621
Households
2.1
Avg Household Size
34
Median Age
31%
College-Educated
80%
High-School Grad
7.6 sq mi
ZIP Area
3,463
Density / Sq Mi
$58,428
Median Household Income
$38,753
Median Earnings
$1,014
Median Rent
$143,000
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?
Flex space - Remodeled facility combines warehouse and office areas with truck parking and refreshed interior and exterior finishes.
Where is this flex space located?
The property is located at 2524 NW 2nd St Oklahoma City, OK.
What is the asking price?
The asking price for this property is $619,999.
What are key features of this property?
This property features: 3,500‑square‑foot flex property at 2524 2nd Street, Oklahoma City, OK 73107; Remodeled and updated in 2025; New 7.5 ton warehouse HVAC and 3 ton office HVAC
