Building Details

Year built 1972

Floors in Building 1

Building materials Steel Siding

Listing Agency: Home Place Real Estate

Listed By: Heston Bush Show Phone

Added: Sep 7 Changed: Oct 23 Last Checked: Oct 24 at 6:06PM

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MLS# 1248070

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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.

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 / Yr

$106,999

Cap Rate

8.95%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,139,980 $2.1M

Cap Rate 7%

$1,528,557 $1.5M

Cap Rate 9%

$1,188,878 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 17,600 SF

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 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 (±1% cap)

NOI $139,308 @ 7.0% cap · market cap 11.66%

Second Best

Industrial

$1.53M

$1.34M – $1.78M (±1% cap)

NOI $106,999 @ 7.0% cap · market cap 8.95%

Theoretical Best

Specialty Retail

$6.02M

$5.27M – $7.02M (±1% cap)

NOI $421,344 @ 7.0% cap · market cap 35.26%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Manufacturing properties

Suggested Use

Top Pick Dental Office Restaurant Real Estate Agency Hair Salon Pharmacy Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Similar Off Market Nearby

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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