Industrial Warehouse Flex
3508 Wellsite Drive Norman, OK 73069
3508 Wellsite Drive, Norman, OK, 73069
$2,200,000
For Sale
$2,200,000
Two-building industrial site with dock loading, office/support space, and gated yard and paved exterior access.
Property Size13,246 SF
Price / SF$166.09
Days on Market70
Property Features for 3508 Wellsite Drive
General Information
- Standard status
- Active
- Size
- 13,246 SF
Listing agency
Elite Property &Consulting LLC
(580) 465-6452
Listed by
Daniel Perry II
(580) 465-6452
Source
Exprealty
Added: May 15 Updated: Jul 22 at 9:18PM Checked: Jul 22 at 9:18PM
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 Elite Property &Consulting LLC
Investment Insights
Based on property information with market context.
Industrial flex and warehouse property consisting of two buildings on a single site, offering large open warehouse/production space in Building 1 and additional warehouse, storage, or service space in Building 2. Building 1 includes dock/loading access, office/support areas, restrooms, and paved exterior access, while Building 2 provides warehouse space with restrooms, exterior access, and surrounding paved areas.
The site is designed for practical daily operations, with substantial concrete yard/drive areas, gated access, loading areas, multiple exterior access points, and flexible circulation between the two buildings. It is positioned in an established commercial/industrial/service/retail-support corridor in Norman, Oklahoma, with access to major nearby corridors including Flood Ave/Hwy 77, Tecumseh Rd, Rock Creek Rd, and I-35.
Buyer should verify all information including square footage, zoning, permitted uses, utilities, condition, and suitability for intended use.
The site is designed for practical daily operations, with substantial concrete yard/drive areas, gated access, loading areas, multiple exterior access points, and flexible circulation between the two buildings. It is positioned in an established commercial/industrial/service/retail-support corridor in Norman, Oklahoma, with access to major nearby corridors including Flood Ave/Hwy 77, Tecumseh Rd, Rock Creek Rd, and I-35.
Buyer should verify all information including square footage, zoning, permitted uses, utilities, condition, and suitability for intended use.
Key Highlights
- Two‑building industrial site with approximately 22,834 SF total across Buildings 1 and 2
- Building 1 offers approximately 13,246 SF with large open warehouse/production space and dock/loading access
- Building 2 offers approximately 9,588 SF with additional warehouse/storage/service space and restrooms with exterior access
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $119.2k | $9.00 |
| − Vacancy | −$7.2k | −$0.54 |
| EGI | $112.1k | $8.46 |
| − OpEx | −$16.8k | −$1.27 |
| NOI | $95.3k | $7.19 |
13,246 SF · lease $9.00/SF/yr · vacancy 6.00% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$1.36M
$1.19M – $1.59M
NOI $95,252 @ 7.0% cap · market cap 4.33%
Second Best
Flex RnD
$1.24M
$1.08M – $1.44M
NOI $86,478 @ 7.0% cap · market cap 3.93%
Theoretical Best
Specialty Retail
$2.29M
$2.00M – $2.67M
NOI $160,224 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Two-building industrial site with dock loading, office/support space, and gated yard and paved exterior access.
Where is this flex space located?
The property is located at 3508 Wellsite Drive Norman, OK.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Two‑building industrial site with approximately 22,834 SF total across Buildings 1 and 2; Building 1 offers approximately 13,246 SF with large open warehouse/production space and dock/loading access; Building 2 offers approximately 9,588 SF with additional warehouse/storage/service space and restrooms with exterior access
