Industrial Warehouse with High
New
For Sale
$1,195,000
3321 E Reno Ave, Oklahoma City, OK 73117
Industrial warehouse with fenced exterior space, drive-in loading, and access to major Oklahoma City transportation routes.
Property Size17,600 SF
Lot Size1.32 Acres
Price / SF$67.90
Days on Market4
Property Features for 3321 E Reno Ave
General Information
Standard status
Active
Size
17,600 SF
Lot size
1.32 Acres
Zoning
industrial
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
18 ft
Warehouse Space
17,600 SF
Drive-In Doors
2
Power
1,400 amps
Three-Phase Power
Yes
Heavy Power
Yes
Building Details
Year Built
1972
Building Size
17,600 SF
Construction
metal
Listing Agency:
Home Place Real Estate
Listed By:
Heston Bush · License #158403
(580) 399-6379
Source:
Sarahflemingestates
Added: Sep 9
Last Checked: Sep 11 at 2:02PM
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 Home Place Real Estate
Investment Insights
Based on property information with market context.
This 17,600-square-foot industrial warehouse occupies approximately 1.32 acres and was built in 1972. The metal building provides approximately 18-foot clear height, two 14' x 14' drive-in doors, space heaters, and a fenced outdoor area. Industrial zoning supports the property’s warehouse and manufacturing orientation, while the substantial electrical service is suited to equipment-intensive operations.
The facility is located at 3321 E Reno Ave in Oklahoma City, with access to I-40, I-35, and other major transportation corridors. Its combination of warehouse area, outdoor space, loading access, and electrical capacity accommodates industrial, distribution, storage, automotive, and owner-user applications.
The facility is located at 3321 E Reno Ave in Oklahoma City, with access to I-40, I-35, and other major transportation corridors. Its combination of warehouse area, outdoor space, loading access, and electrical capacity accommodates industrial, distribution, storage, automotive, and owner-user applications.
Key Highlights
- 17,600 SF industrial warehouse on approximately 1.32 acres
- 1,400+ amps of 3‑phase power
- Approximately 18‑foot clear height
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
$106,999
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
8.95%
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%
$2,139,980
$2.1M
Cap Rate 7%
$1,528,557
$1.5M
Cap Rate 9%
$1,188,878
$1.2M
Market Conditions
NOI Build-Up for 17,600 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
$158.4K $9.00/SF
− Vacancy
−$5.5K −$0.32/SF
EGI
$152.9K $8.69/SF
− OpEx
−$45.9K −$2.61/SF
NOI
$107.0K $6.08/SF
Area
Oklahoma City, OK
Vacancy
3.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,139,980
Cap Rate 7%
$1,528,557
Cap Rate 9%
$1,188,878
Alternative Uses
Best Use
Warehouse
$1.99M
$1.74M – $2.32M
NOI $139,308 @ 7.0% cap · market cap 11.66%
Second Best
Industrial
$1.53M
$1.34M – $1.78M
NOI $106,999 @ 7.0% cap · market cap 8.95%
Theoretical Best
Specialty Retail
$6.02M
$5.27M – $7.02M
NOI $421,344 @ 7.0% cap · market cap 35.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
18 ft
Clear height
2
Drive-in doors
Yes
Heavy power
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
145
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 73117, OK
5,859
Population
3,402
Households
1.7
Avg Household Size
38
Median Age
18%
College-Educated
80%
High-School Grad
6.4 sq mi
ZIP Area
915
Density / Sq Mi
$21,923
Median Household Income
$23,255
Median Earnings
$951
Median Rent
$116,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Del City's Scott Street Mini Storage — 3280 Delmar Rd, Del City, OK 73115
- Trinity Place Storage — 4315 Vfw Dr, Del City, OK 73115
- Self-Storage at U-Haul — 1005 S Sunnylane Rd, Del City, OK 73115
- Nearby Self Storage Units - Oklahoma City, Oklahoma — 3201 e reno ave, oklahoma city, ok 73117
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial warehouse with fenced exterior space, drive-in loading, and access to major Oklahoma City transportation routes.
Where is this warehouse located?
The property is located at 3321 E Reno Ave Oklahoma City, OK.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: 17,600 SF industrial warehouse on approximately 1.32 acres; 1,400+ amps of 3‑phase power; Approximately 18‑foot clear height
