Multi-Tenant Industrial
For Sale
$5,600,000
3900 E I 240 Service Rd, Oklahoma City, OK 73135
Three-building industrial property with occupied space, additional availability, and direct service-road access.
Property Size72,000 SF
Price / SF$77.78
Days on Market13
Property Features for 3900 E I 240 Service Rd
General Information
Standard status
Active
Size
72,000 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Buildings
3
Tenancy
Multi
Listing Agency:
Richard Jennings Real Estate
(405) 669-6710
Listed By:
Richard Jennings
(405) 669-6710
Source:
Exprealty
Added: Aug 11
Changed: Aug 21
Last Checked: Aug 23 at 7:19AM
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 Richard Jennings Real Estate
Investment Insights
Based on property information with market context.
This industrial portfolio comprises three buildings totaling 72,000 square feet: two 12,000-square-foot structures and one 48,000-square-foot building. Approximately 42,000 square feet is occupied by existing tenants, while the remaining area provides additional leasing capacity or space for an owner-user. The multi-building configuration supports a range of industrial operations, including distribution, service, manufacturing, and contractor uses identified for the property.
The site is located along the I-240 service road in Oklahoma City, just east of the I-240 and I-35 interchange. Service-road frontage provides access for tenants and visitors, while the interchange connects the property with major transportation corridors serving the Oklahoma City metropolitan area.
The site is located along the I-240 service road in Oklahoma City, just east of the I-240 and I-35 interchange. Service-road frontage provides access for tenants and visitors, while the interchange connects the property with major transportation corridors serving the Oklahoma City metropolitan area.
Key Highlights
- 72,000‑square‑foot industrial portfolio across three buildings
- Two 12,000‑square‑foot buildings and one 48,000‑square‑foot building
- Approximately 42,000 square feet occupied by existing tenants
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
$437,724
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
7.82%
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%
$8,754,480
$8.8M
Cap Rate 7%
$6,253,200
$6.3M
Cap Rate 9%
$4,863,600
$4.9M
Market Conditions
NOI Build-Up for 72,000 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
$648.0K $9.00/SF
− Vacancy
−$22.7K −$0.32/SF
EGI
$625.3K $8.69/SF
− OpEx
−$187.6K −$2.61/SF
NOI
$437.7K $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%
$8,754,480
Cap Rate 7%
$6,253,200
Cap Rate 9%
$4,863,600
Alternative Uses
Best Use
Industrial
$6.25M
$5.47M – $7.30M
NOI $437,724 @ 7.0% cap · market cap 7.82%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$24.62M
$21.55M – $28.73M
NOI $1,723,680 @ 7.0% cap · market cap 30.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
122
Businesses Nearby
Explore this area
Business Placement
Demographics for 73135, OK
21,562
Population
9,696
Households
2.2
Avg Household Size
33
Median Age
24%
College-Educated
88%
High-School Grad
11.0 sq mi
ZIP Area
1,960
Density / Sq Mi
$67,464
Median Household Income
$38,346
Median Earnings
$1,212
Median Rent
$164,200
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial property - Three-building industrial property with occupied space, additional availability, and direct service-road access.
Where is this industrial property located?
The property is located at 3900 E I 240 Service Rd Oklahoma City, OK.
What is the asking price?
The asking price for this property is $5,600,000.
What are key features of this property?
This property features: 72,000‑square‑foot industrial portfolio across three buildings; Two 12,000‑square‑foot buildings and one 48,000‑square‑foot building; Approximately 42,000 square feet occupied by existing tenants
