Flex Building with Office-Warehouse
For Sale
$895,000
315 W Will Rogers Boulevard, Claremore, OK 74017
Office, warehouse, workshop, and support areas create a versatile commercial configuration.
Property Size10,412 SF
Price / SF$85.96
Days on Market41
Property Features for 315 W Will Rogers Boulevard
General Information
Standard status
Active
Size
10,412 SF
Building Details
Year Built
1996
Buildings
1
Listing Agency:
Solid Rock, REALTORS
(918) 637-3415
Listed By:
Michael Urie · License #141680
Source:
Alloverok
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 29 at 10:47PM
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 Solid Rock, REALTORS
Investment Insights
Based on property information with market context.
This 10,412-square-foot flex property combines office, production, storage, and workshop areas within a building constructed in 1996. The interior includes 8 private offices, a conference room, a central open work area, 2 kitchenettes, 4 bathrooms, warehouse and storage space, and a substantial workshop. The roof surface carries a 10-year warranty, and the property includes on-site parking across five city lots.
Located at 315 W Will Rogers Boulevard in downtown Claremore’s Lilac District, the property sits among antique shops, restaurants, coffee houses, specialty retailers, and community events. The district encompasses several blocks of historic downtown and was designated by the City of Claremore to recognize local culture and the legacy of playwright Lynn Riggs. Claremore is the county seat of Rogers County and part of the Tulsa metropolitan area.
Located at 315 W Will Rogers Boulevard in downtown Claremore’s Lilac District, the property sits among antique shops, restaurants, coffee houses, specialty retailers, and community events. The district encompasses several blocks of historic downtown and was designated by the City of Claremore to recognize local culture and the legacy of playwright Lynn Riggs. Claremore is the county seat of Rogers County and part of the Tulsa metropolitan area.
Key Highlights
- 10412 square feet on five city lots
- 8 private offices, conference room, and central open workspace
- Warehouse, storage, and large workshop areas
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
$70,996
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
7.93%
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%
$1,419,920
$1.4M
Cap Rate 7%
$1,014,229
$1.0M
Cap Rate 9%
$788,844
$788.8K
Market Conditions
NOI Build-Up for 10,412 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
$87.5K $8.40/SF
− Vacancy
−$3.9K −$0.38/SF
EGI
$83.5K $8.02/SF
− OpEx
−$12.5K −$1.20/SF
NOI
$71.0K $6.82/SF
Area
Rogers County, OK
Vacancy
4.50%
Lease Rate
$8.40 /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%
$1,419,920
Cap Rate 7%
$1,014,229
Cap Rate 9%
$788,844
Alternative Uses
Best Use
Office B
$1.96M
$1.72M – $2.29M
NOI $137,317 @ 7.0% cap · market cap 15.34%
Second Best
Warehouse
$1.01M
$887.5K – $1.18M
NOI $70,996 @ 7.0% cap · market cap 7.93%
Theoretical Best
Specialty Retail
$2.61M
$2.28M – $3.04M
NOI $182,543 @ 7.0% cap · market cap 20.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,120
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 74017, OK
29,083
Population
12,038
Households
2.4
Avg Household Size
40
Median Age
23%
College-Educated
92%
High-School Grad
140.5 sq mi
ZIP Area
207
Density / Sq Mi
$65,519
Median Household Income
$38,165
Median Earnings
$1,015
Median Rent
$184,400
Median Home Value
Market
Vacancy Rate% for Office 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 - Office, warehouse, workshop, and support areas create a versatile commercial configuration.
Where is this flex space located?
The property is located at 315 W Will Rogers Boulevard Claremore, OK.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: 10412 square feet on five city lots; 8 private offices, conference room, and central open workspace; Warehouse, storage, and large workshop areas
