Versatile Retail Commercial
For Sale
$1,200,000
3200 SE 44th Street, Oklahoma City, OK 73135
SINGLE_FAMILY - Oklahoma City, OK
Property Size8,014 SF
Lot Size0.93 Acres
Price / SF$149.74
Days on Market164
Property Features for 3200 SE 44th Street
General Information
Property type
Residential
Property subtype
Retail
Zoning
Commercial
Accessibility
Accessible Approach with Ramp
Directions
Drive to SE 44th St, Destination will be on the right.
Standard status
Active
APN
3200SE44th73135
Size
8,014 SF
Lot size
0.93 Acres
Building Details
Year built
1968
Floors in Building
1
Building materials
Frame
Listing Agency:
EXP Realty LLC (BO)
(888) 560-3964
Listed By:
Vanessa Johnson
(405) 615-1655
Added: Feb 26
Changed: Aug 3
Last Checked: Aug 9 at 4:06AM
MLS# 1215921
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 building offers a versatile interior and a sizable lot, providing flexibility for a range of commercial uses. The property includes approximately 8,014 square feet of building space on roughly 0.93 acres, with suitability for retail, showroom, warehouse, distribution, service-based businesses, owner-user occupancy, or investment purposes, as described in the public remarks.
Located at 3200 SE 44th Street in Oklahoma City, OK 73135, the building is presented as having strong visibility and prominent frontage along a major commercial corridor. The public remarks also note strong traffic counts and convenient access to major highways and surrounding business districts and residential neighborhoods. The property is zoned Commercial.
Located at 3200 SE 44th Street in Oklahoma City, OK 73135, the building is presented as having strong visibility and prominent frontage along a major commercial corridor. The public remarks also note strong traffic counts and convenient access to major highways and surrounding business districts and residential neighborhoods. The property is zoned Commercial.
Key Highlights
- 8,014 SF commercial building on approx. 0.93 acres
- Built in 1968 with frame construction
- Accessible approach with ramp
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
$63,432
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
5.29%
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%
$1,268,640
$1.3M
Cap Rate 7%
$906,171
$906.2K
Cap Rate 9%
$704,800
$704.8K
Market Conditions
NOI Build-Up for 8,014 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
$76.9K $9.60/SF
− Vacancy
−$2.3K −$0.29/SF
EGI
$74.6K $9.31/SF
− OpEx
−$11.2K −$1.40/SF
NOI
$63.4K $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%
$1,268,640
Cap Rate 7%
$906,171
Cap Rate 9%
$704,800
Alternative Uses
Best Use
Retail
$2.26M
$1.98M – $2.64M
NOI $158,196 @ 7.0% cap · market cap 13.18%
Second Best
Warehouse
$906.2K
$792.9K – $1.06M
NOI $63,432 @ 7.0% cap · market cap 5.29%
Theoretical Best
Specialty Retail
$2.74M
$2.40M – $3.20M
NOI $191,855 @ 7.0% cap · market cap 15.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
150
Businesses Nearby
Explore this area
Business Placement
Demographics for 73135, OK
21,562
Population
9,696
Households
2.2
Avg Household Size
33
Median Age
24%
College-Educated
88%
High-School Grad
11.0 sq mi
ZIP Area
1,960
Density / Sq Mi
$67,464
Median Household Income
$38,346
Median Earnings
$1,212
Median Rent
$164,200
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?
Retail space - Commercial building on a large site with flexible space for retail, showroom, warehouse, distribution, and service uses.
Where is this retail space located?
The property is located at 3200 SE 44th Street Oklahoma City, OK.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 8,014 SF commercial building on approx. 0.93 acres; Built in 1968 with frame construction; Accessible approach with ramp
