Fenced Flex Property With
For Sale
$699,999
3025 N Westminster Road, Spencer, OK 73084
Commercial Sale, Spencer, OK
Property Size6,500 SF
Lot Size2.58 Acres
Price / SF$107.69
Days on Market538
Property Features for 3025 N Westminster Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Directions
Head N from NE 23rd St. onto Westminster Rd. Property is on the W side of Westminster
Standard status
Active
APN
3025NWestminster73084
Size
6,500 SF
Lot size
2.58 Acres
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1949
Listing Agency:
Copper Creek Real Estate
(405) 888-9902
Listed By:
Zackary Davis · License #182686
(405) 740-5399
Added: Mar 3, 2025
Changed: Aug 21
Last Checked: Aug 23 at 3:06PM
MLS# 1157807
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 commercial flex property spans 2.58 acres and includes approximately 6,500 square feet of improvements. The layout combines a 5,000-square-foot shop with 1,500 square feet of attached living or office space featuring two bedrooms, two full baths, one half bath, and an office. Natural gas heating and central electric air conditioning serve the improvements.
The shop is equipped with 600-volt, 400-amp electrical service. Four gates provide access through the six-foot metal privacy fence, which is topped with barbed wire. Public water and public sewer serve the property. Trailers, outbuildings, and debris are present and may remain or be removed, providing flexibility for a buyer’s intended use and site configuration.
The shop is equipped with 600-volt, 400-amp electrical service. Four gates provide access through the six-foot metal privacy fence, which is topped with barbed wire. Public water and public sewer serve the property. Trailers, outbuildings, and debris are present and may remain or be removed, providing flexibility for a buyer’s intended use and site configuration.
Key Highlights
- 2.58‑acre commercial flex property with 6,500 square feet of improvements
- 5,000‑square‑foot shop with 600‑volt, 400‑amp electrical service
- Attached 1,500‑square‑foot quarters with 2 beds, 2 full baths, 1 half bath, and office
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
$49,009
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
7.00%
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%
$980,180
$980.2K
Cap Rate 7%
$700,129
$700.1K
Cap Rate 9%
$544,544
$544.5K
Market Conditions
NOI Build-Up for 6,500 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
$62.4K $9.60/SF
− Vacancy
−$4.7K −$0.73/SF
EGI
$57.7K $8.87/SF
− OpEx
−$8.6K −$1.33/SF
NOI
$49.0K $7.54/SF
Area
Oklahoma County, OK
Vacancy
7.60%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
15.00%
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%
$980,180
Cap Rate 7%
$700,129
Cap Rate 9%
$544,544
Alternative Uses
Best Use
Flex RnD
$1.16M
$1.01M – $1.35M
NOI $81,142 @ 7.0% cap · market cap 11.59%
Second Best
Warehouse
$700.1K
$612.6K – $816.8K
NOI $49,009 @ 7.0% cap · market cap 7.00%
Theoretical Best
Office A
$1.35M
$1.18M – $1.58M
NOI $94,768 @ 7.0% cap · market cap 13.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
150
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 73084, OK
6,595
Population
2,978
Households
2.2
Avg Household Size
42
Median Age
21%
College-Educated
88%
High-School Grad
18.0 sq mi
ZIP Area
366
Density / Sq Mi
$54,694
Median Household Income
$35,400
Median Earnings
$873
Median Rent
$115,600
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Commercial flex property combines secured outdoor area, shop space, and attached residential quarters.
Where is this flex space located?
The property is located at 3025 N Westminster Road Spencer, OK.
What is the asking price?
The asking price for this property is $699,999.
What are key features of this property?
This property features: 2.58‑acre commercial flex property with 6,500 square feet of improvements; 5,000‑square‑foot shop with 600‑volt, 400‑amp electrical service; Attached 1,500‑square‑foot quarters with 2 beds, 2 full baths, 1 half bath, and office
