Fenced Flex Space With Overhead
For Sale
$499,000
404 W Pikes Peak Rd, Chickasha, OK 73018
Two metal buildings provide office, conference, restroom, warehouse, and secured yard components.
Property Size2,800 SF
Price / SF$178.21
Days on Market16
Property Features for 404 W Pikes Peak Rd
General Information
Standard status
Active
Size
2,800 SF
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Utilities to Site
Yes
Additional Details
Drive-In Doors
4
Amenities
conference area
diesel block heater outlets
Building Details
Year Built
2021
Buildings
2
Construction
metal
Listing Agency:
Century 21 Mosley
(405) 222-8625
Listed By:
Suehzen Mosley · License #172182
Source:
Alloverok
Added: Aug 15
Changed: Aug 28
Last Checked: Aug 29 at 11:43AM
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 Century 21 Mosley
Investment Insights
Based on property information with market context.
Built in 2021, this 2,800-square-foot flex property includes two metal buildings within a secured, fenced yard. The larger 40-by-40-foot building contains two offices, a restroom, conference area, walk-through access to the yard, and an 8-foot overhead door. A second 30-by-40-foot building opens exclusively to the yard and adds a walk-through door plus three 8-foot overhead doors.
The smaller building is insulated and equipped with 70-amp power. Six yard outlets support diesel block-heater connections, while an 8-inch rock base topped with approximately 4 inches of crushed gravel provides a reinforced surface for truck use. A 6-foot fence with barbed wire encloses the property. The site is located at 404 W Pikes Peak Rd in Chickasha, Oklahoma, and has internet, water, gas service for heat and hot water, and septic.
The smaller building is insulated and equipped with 70-amp power. Six yard outlets support diesel block-heater connections, while an 8-inch rock base topped with approximately 4 inches of crushed gravel provides a reinforced surface for truck use. A 6-foot fence with barbed wire encloses the property. The site is located at 404 W Pikes Peak Rd in Chickasha, Oklahoma, and has internet, water, gas service for heat and hot water, and septic.
Key Highlights
- Two metal buildings totaling 2,800 SF; one measures 40x40 and the other 30x40
- Larger building includes 2 offices, restroom, conference area, and an 8' overhead door
- Second building has 3 8' overhead doors and a walk‑through door from the fenced yard
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
$34,780
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
6.97%
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%
$695,600
$695.6K
Cap Rate 7%
$496,857
$496.9K
Cap Rate 9%
$386,444
$386.4K
Market Conditions
NOI Build-Up for 2,800 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
$58.8K $21.00/SF
− Vacancy
−$5.3K −$1.89/SF
EGI
$53.5K $19.11/SF
− OpEx
−$18.7K −$6.69/SF
NOI
$34.8K $12.42/SF
Area
Grady County, OK
Vacancy
9.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
35.00%
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%
$695,600
Cap Rate 7%
$496,857
Cap Rate 9%
$386,444
Alternative Uses
Best Use
Flex RnD
$496.9K
$434.8K – $579.7K
NOI $34,780 @ 7.0% cap · market cap 6.97%
Second Best
Warehouse
$301.6K
$263.9K – $351.9K
NOI $21,112 @ 7.0% cap · market cap 4.23%
Theoretical Best
Specialty Retail
$676.8K
$592.2K – $789.6K
NOI $47,376 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Drive-in doors
Yes
Fenced yard
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
77
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 73018, OK
19,806
Population
9,509
Households
2.1
Avg Household Size
38
Median Age
20%
College-Educated
89%
High-School Grad
155.1 sq mi
ZIP Area
128
Density / Sq Mi
$58,340
Median Household Income
$32,414
Median Earnings
$877
Median Rent
$126,600
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?
Flex space - Two metal buildings provide office, conference, restroom, warehouse, and secured yard components.
Where is this flex space located?
The property is located at 404 W Pikes Peak Rd Chickasha, OK.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Two metal buildings totaling 2,800 SF; one measures 40x40 and the other 30x40; Larger building includes 2 offices, restroom, conference area, and an 8' overhead door; Second building has 3 8' overhead doors and a walk‑through door from the fenced yard
