Modern Flex Space with Auto
For Sale
Contact for pricing
3601 SW 44th St, Oklahoma City, OK 73119
Flex space with auto zoning, built/remodeled in 2022.
Property Size11,161 SF
Lot Size2.00 Acres
Price / SF$103.04
Days on Market148
Property Features for 3601 SW 44th St
General Information
Standard status
Active
Size
11,161 SF
Class
B
Lot size
2.00 Acres
Property subtype
Industrial
Zoning
I-2
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
NAI Red
(405) 641-9798
Listed By:
Bob Sullivan, CCIM · License #OK 111159
Source:
Crexi
Added: Mar 18
Changed: Aug 8
Last Checked: Jul 26 at 4:29AM
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 NAI Red
Investment Insights
Based on property information with market context.
The property at 3601 SW 44th Street was built in 2022 and includes approximately 3,050 square feet of office space and approximately 3,111 square feet of shop area. It features a 14-foot eve height and three 12-foot drive-in doors, situated on 1.5 acres of land. The SPUD-998 zoning allows for auto and RV storage and sales. Additionally, the property at 3617 SW 44th Street, built in 1982 and remodeled in 2022, offers approximately 600 square feet of office space and approximately 4,400 square feet of shop area. It also has a 14-foot eve height and nine 12-foot drive-in doors, located on 0.50 acres of land with SPUD-1055 zoning and an electrified security fence. The total property size is 11,161 square feet.
Key Highlights
- SPUD zoning allows for Auto & RV Storage & Sales (SPUD‑998 & SPUD‑1055)
- Large shop area totaling approximately 7,511 SF across both properties.
- Multiple drive‑in doors: (3) 12’ doors at 3601 SW 44th and (9) 12’ doors at 3617 SW 44th.
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
$67,853
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
5.90%
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%
$1,357,060
$1.4M
Cap Rate 7%
$969,329
$969.3K
Cap Rate 9%
$753,922
$753.9K
Market Conditions
NOI Build-Up for 11,161 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
$100.4K $9.00/SF
− Vacancy
−$3.5K −$0.32/SF
EGI
$96.9K $8.69/SF
− OpEx
−$29.1K −$2.61/SF
NOI
$67.9K $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%
$1,357,060
Cap Rate 7%
$969,329
Cap Rate 9%
$753,922
Alternative Uses
Best Use
Retail
$3.15M
$2.75M – $3.67M
NOI $220,318 @ 7.0% cap · market cap 19.16%
Second Best
Flex RnD
$2.15M
$1.88M – $2.51M
NOI $150,432 @ 7.0% cap · market cap 13.08%
Theoretical Best
Specialty Retail
$3.82M
$3.34M – $4.45M
NOI $267,194 @ 7.0% cap · market cap 23.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,044
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 73119, OK
31,216
Population
12,008
Households
2.6
Avg Household Size
31
Median Age
6%
College-Educated
61%
High-School Grad
6.8 sq mi
ZIP Area
4,591
Density / Sq Mi
$42,936
Median Household Income
$29,529
Median Earnings
$923
Median Rent
$93,600
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.
Similar Off Market Nearby
- Charcuterations — 3022 W I 44 Service Rd #12783, Oklahoma City, OK 73112, United States
- Moonlight Vegan — 3644 nw 50th st, oklahoma city, ok 73112
Frequently Asked Questions
What type of property is this?
Flex space - Flex space with auto zoning, built/remodeled in 2022.
Where is this flex space located?
The property is located at 3601 SW 44th St Oklahoma City, OK.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: SPUD zoning allows for Auto & RV Storage & Sales (SPUD‑998 & SPUD‑1055); Large shop area totaling approximately 7,511 SF across both properties.; Multiple drive‑in doors: (3) 12’ doors at 3601 SW 44th and (9) 12’ doors at 3617 SW 44th.
