Warehouse With Fenced
New
For Sale
$1,995,000
3609 South High Avenue, Oklahoma City, OK 73129
Industrial facility combines warehouse operations with conditioned office space and on-site support areas.
Property Size23,850 SF
Days on Market2
Property Features for 3609 South High Avenue
General Information
Standard status
Active
Size
23,850 SF
Property subtype
Industrial
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Amenities
Conference room
Full kitchen
Building Details
Building Size
23,850 SF
Listed By:
Andrew Hwang, Esq · License #OK #170740
(405) 570-7317
Source:
Adeptcre
Added: Sep 6
Last Checked: Sep 7 at 7:08AM
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 Andrew Hwang, Esq
Investment Insights
Based on property information with market context.
This warehouse property includes an expansive operational area with LED lighting, one loading dock, and eight overhead doors in multiple sizes: five measuring 10' x 10', two measuring 10' x 12', and one measuring 12' x 12'. The building also provides eight private offices, a conference room, six bathrooms, and a full kitchen. Exterior improvements include a fenced yard and dry storage areas.
Located at 3609 South High Avenue in Oklahoma City, the property offers proximity and access to I-35. The west 7,000 SF is currently leased, providing an existing occupancy component within the facility.
Located at 3609 South High Avenue in Oklahoma City, the property offers proximity and access to I-35. The west 7,000 SF is currently leased, providing an existing occupancy component within the facility.
Key Highlights
- Warehouse includes LED lighting, one loading dock, and 8 overhead doors
- Overhead door mix includes 5 - 10'x10', 2 - 10' x 12', and 1 - 12'x12'
- 8 private offices, a conference room, 6 bathrooms, and a full kitchen
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
$144,996
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
7.27%
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%
$2,899,920
$2.9M
Cap Rate 7%
$2,071,371
$2.1M
Cap Rate 9%
$1,611,067
$1.6M
Market Conditions
NOI Build-Up for 23,850 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
$214.7K $9.00/SF
− Vacancy
−$7.5K −$0.32/SF
EGI
$207.1K $8.69/SF
− OpEx
−$62.1K −$2.61/SF
NOI
$145.0K $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%
$2,899,920
Cap Rate 7%
$2,071,371
Cap Rate 9%
$1,611,067
Alternative Uses
Best Use
Office B
$4.85M
$4.24M – $5.66M
NOI $339,319 @ 7.0% cap · market cap 17.01%
Second Best
Flex RnD
$4.59M
$4.02M – $5.36M
NOI $321,460 @ 7.0% cap · market cap 16.11%
Theoretical Best
Specialty Retail
$8.16M
$7.14M – $9.52M
NOI $570,969 @ 7.0% cap · market cap 28.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
520
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 73129, OK
19,971
Population
7,569
Households
2.6
Avg Household Size
31
Median Age
6%
College-Educated
67%
High-School Grad
12.5 sq mi
ZIP Area
1,598
Density / Sq Mi
$43,941
Median Household Income
$28,481
Median Earnings
$914
Median Rent
$76,400
Median Home Value
Market
Vacancy Rate% for Office in Oklahoma City, OK
Questions? Ask Rey
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Similar Off Market Nearby
- Storage Oklahoma — 3401 S I-35 Service Rd, Oklahoma City, OK 73129
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial facility combines warehouse operations with conditioned office space and on-site support areas.
Where is this warehouse located?
The property is located at 3609 South High Avenue Oklahoma City, OK.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Warehouse includes LED lighting, one loading dock, and 8 overhead doors; Overhead door mix includes 5 - 10'x10', 2 - 10' x 12', and 1 - 12'x12'; 8 private offices, a conference room, 6 bathrooms, and a full kitchen
