Industrial Warehouse with Fenced
New
For Sale
$1,195,000
3321 E Reno Avenue, Oklahoma City, OK 73117
Commercial Sale, Oklahoma City, OK
Property Size17,600 SF
Lot Size1.32 Acres
Price / SF$67.90
Days on Market3
Property Features for 3321 E Reno Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Industrial
Standard status
Active
APN
3321EReno73117
Size
17,600 SF
Lot size
1.32 Acres
Building Details
Year built
1972
Floors in Building
1
Building materials
Steel Siding
Listing Agency:
Home Place Real Estate
(580) 399-6379
Listed By:
Heston Bush · License #158403
(580) 399-8990
Added: Sep 7
Last Checked: Sep 9 at 11:06AM
MLS# 1248070
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 17,600-square-foot industrial warehouse sits on approximately 1.3158 acres and was built in 1972. The steel-sided building provides approximately 18-foot clear height, two 14' x 14' drive-in doors, space heaters, and 1,400+ amps of 3-phase power. A fenced outdoor area extends the usable property beyond the enclosed warehouse.
The property is zoned Industrial and located at 3321 E Reno Avenue in Oklahoma City. Access to I-40 and I-35 connects the site with major transportation routes across the metro area. The combination of warehouse space, high-capacity electrical service, drive-in loading, and outdoor area supports industrial, manufacturing, distribution, automotive, storage, and owner-user applications.
The property is zoned Industrial and located at 3321 E Reno Avenue in Oklahoma City. Access to I-40 and I-35 connects the site with major transportation routes across the metro area. The combination of warehouse space, high-capacity electrical service, drive-in loading, and outdoor area supports industrial, manufacturing, distribution, automotive, storage, and owner-user applications.
Key Highlights
- 17,600 SF industrial warehouse on approximately 1.3158 acres
- 1,400+ amps of 3‑phase power for equipment‑intensive operations
- 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
Property Profile
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Industrial warehouse with substantial electrical capacity, drive-in access, and secured outdoor space for operational flexibility.
Where is this warehouse located?
The property is located at 3321 E Reno Avenue 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 1.3158 acres; 1,400+ amps of 3‑phase power for equipment‑intensive operations; Approximately 18‑foot clear height
