Absolute NNN Investment
For Sale
Contact for pricing
2921 SW 89TH ST, Oklahoma City, OK 73159
Absolute NNN offering with five years remaining on the initial lease.
Property Size4,784 SF
Price / SF$399.87
Days on Market93
Property Features for 2921 SW 89TH ST
General Information
Standard status
Active
Size
4,784 SF
Property subtype
OFFICE
Listing Agency:
Grant Group
(405) 205-2100
Listed By:
Chris Anderson
(405) 408-9098
Source:
Moodyscre
Added: Jun 15
Changed: Sep 13
Last Checked: Sep 15 at 4:43AM
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 Grant Group
Investment Insights
Based on property information with market context.
This Absolute NNN investment property is offered with five years remaining on the initial lease. The asset totals 4,784 square feet.
The property is located at 2921 SW 89TH ST, Oklahoma City, OK 73159.
The property is located at 2921 SW 89TH ST, Oklahoma City, OK 73159.
Key Highlights
- 4,784 SF Absolute NNN property
- Absolute NNN structure
- Five years remaining on initial lease
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
$58,901
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
3.08%
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%
$1,178,020
$1.2M
Cap Rate 7%
$841,443
$841.4K
Cap Rate 9%
$654,456
$654.5K
Market Conditions
NOI Build-Up for 4,784 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
$103.3K $21.60/SF
− Vacancy
−$24.8K −$5.18/SF
EGI
$78.5K $16.42/SF
− OpEx
−$19.6K −$4.10/SF
NOI
$58.9K $12.31/SF
Area
ZIP 73159
Vacancy
24.00%
Lease Rate
$21.60 /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%
$1,178,020
Cap Rate 7%
$841,443
Cap Rate 9%
$654,456
Alternative Uses
Best Use
Office B
$841.4K
$736.3K – $981.7K
NOI $58,901 @ 7.0% cap · market cap 3.08%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.41M
$1.24M – $1.65M
NOI $99,029 @ 7.0% cap · market cap 5.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
341
Businesses Nearby
Explore this area
Business Placement
Demographics for 73159, OK
32,981
Population
13,618
Households
2.4
Avg Household Size
33
Median Age
17%
College-Educated
85%
High-School Grad
13.7 sq mi
ZIP Area
2,407
Density / Sq Mi
$56,369
Median Household Income
$36,125
Median Earnings
$1,119
Median Rent
$144,200
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?
NNN property - Absolute NNN offering with five years remaining on the initial lease.
Where is this nnn property located?
The property is located at 2921 SW 89TH ST Oklahoma City, OK.
What is the asking price?
The asking price for this property is $1,913,000.
What are key features of this property?
This property features: 4,784 SF Absolute NNN property; Absolute NNN structure; Five years remaining on initial lease
