Oklahoma City Warehouse For
For Sale
Contact for pricing
3035 NE 23rd St, Oklahoma City, OK 73121
2400 sqft warehouse available in Oklahoma City, Oklahoma.
Property Size2,400 SF
Price / SF$185.83
Days on Market110
Property Features for 3035 NE 23rd St
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Industrial
Investment Type
Owner/User
Listing Agency:
Mercer Company
Listed By:
Tucker Cason · License #Oklahoma
(405) 323-8508
Source:
Crexi
Added: May 16
Changed: Aug 8
Last Checked: Sep 1 at 11:32PM
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 Mercer Company
Investment Insights
Based on property information with market context.
This commercial real estate offering consists of a 2400 square foot warehouse property located at 3035 NE 23rd St in Oklahoma City, Oklahoma. The property is designated for sale and is suitable for warehouse and industrial purposes.
Key Highlights
- Property Address: 3035 NE 23rd St, Oklahoma City, OK 73121
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
$18,996
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
4.26%
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%
$379,920
$379.9K
Cap Rate 7%
$271,371
$271.4K
Cap Rate 9%
$211,067
$211.1K
Market Conditions
NOI Build-Up for 2,400 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
$23.0K $9.60/SF
− Vacancy
−$691 −$0.29/SF
EGI
$22.3K $9.31/SF
− OpEx
−$3.4K −$1.40/SF
NOI
$19.0K $7.92/SF
Area
Oklahoma City, OK
Vacancy
3.00%
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%
$379,920
Cap Rate 7%
$271,371
Cap Rate 9%
$211,067
Alternative Uses
Best Use
Warehouse
$271.4K
$237.5K – $316.6K
NOI $18,996 @ 7.0% cap · market cap 4.26%
Second Best
Industrial
$208.4K
$182.4K – $243.2K
NOI $14,591 @ 7.0% cap · market cap 3.27%
Theoretical Best
Specialty Retail
$820.8K
$718.2K – $957.6K
NOI $57,456 @ 7.0% cap · market cap 12.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
132
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 73121, OK
3,218
Population
1,411
Households
2.3
Avg Household Size
49
Median Age
30%
College-Educated
93%
High-School Grad
9.7 sq mi
ZIP Area
332
Density / Sq Mi
$79,247
Median Household Income
$42,979
Median Earnings
$944
Median Rent
$274,700
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Public Storage — 3401 N Bryant Ave, Oklahoma City, OK 73121
Frequently Asked Questions
What type of property is this?
Warehouse - 2400 sqft warehouse available in Oklahoma City, Oklahoma.
Where is this warehouse located?
The property is located at 3035 NE 23rd St Oklahoma City, OK.
What is the asking price?
The asking price for this property is $446,000.
What are key features of this property?
This property features: Property Address: 3035 NE 23rd St, Oklahoma City, OK 73121
