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3601 SW 44th St, Oklahoma City, OK 73119
Office units with ample parking in an industrial-area setting near Will Rogers International Airport.
Property Size6,161 SF
Price / SF$162.15
Days on Market85
Property Features for 3601 SW 44th St
General Information
Standard status
Active
Size
6,161 SF
Property subtype
INDUSTRIAL
Listing Agency:
NAI RED Commercial Real Estate
(405) 840-0600
Listed By:
Bob Sullivan · License ##111159
(405) 641-9798
Source:
Moodyscre
Added: Jun 24
Changed: Sep 10
Last Checked: Sep 15 at 4:41AM
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 Commercial Real Estate
Investment Insights
Based on property information with market context.
The property comprises 6,161 square feet of office space at 3601 SW 44th St in Oklahoma City. The office units are described as nicely appointed and include ample parking for occupants and visitors.
Located in an industrial area near Will Rogers International Airport, the property offers an office configuration positioned within an established commercial setting. Its location and parking support practical access for office users.
Located in an industrial area near Will Rogers International Airport, the property offers an office configuration positioned within an established commercial setting. Its location and parking support practical access for office users.
Key Highlights
- 6,161 square feet of office space
- Office units in an industrial area
- Near Will Rogers International Airport
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
$87,654
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
8.77%
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%
$1,753,080
$1.8M
Cap Rate 7%
$1,252,200
$1.3M
Cap Rate 9%
$973,933
$973.9K
Market Conditions
NOI Build-Up for 6,161 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
$153.8K $24.96/SF
− Vacancy
−$36.9K −$5.99/SF
EGI
$116.9K $18.97/SF
− OpEx
−$29.2K −$4.74/SF
NOI
$87.7K $14.23/SF
Area
Oklahoma City, OK
Vacancy
24.00%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
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%
$1,753,080
Cap Rate 7%
$1,252,200
Cap Rate 9%
$973,933
Alternative Uses
Best Use
Office B
$1.25M
$1.10M – $1.46M
NOI $87,654 @ 7.0% cap · market cap 8.77%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.11M
$1.84M – $2.46M
NOI $147,494 @ 7.0% cap · market cap 14.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
739
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Oklahoma City, OK
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office units with ample parking in an industrial-area setting near Will Rogers International Airport.
Where is this office units 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 $999,000.
What are key features of this property?
This property features: 6,161 square feet of office space; Office units in an industrial area; Near Will Rogers International Airport
