Renovated Three-Building Warehouse
For Sale
$2,120,750
4401 3rd Street, Oklahoma City, OK 73108
Industrial warehouse portfolio with fenced yard areas, drive-in access, office space, and I-2 zoning.
Property Size24,950 SF
Lot Size1.54 Acres
Price / SF$85
Days on Market113
Property Features for 4401 3rd Street
General Information
Standard status
Active
Size
24,950 SF
Lot size
1.54 Acres
Property subtype
Business Opportunities
Zoning
I-2
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Amenities
3
Building Details
Year Built
1977
Year Renovated
2019
Buildings
3
Listing Agency:
Brick and Beam Realty
(405) 435-3572
Listed By:
Chris Johnson · License #200452
(405) 435-3572
Source:
Xome
Added: Apr 22
Changed: Aug 12
Last Checked: Aug 12 at 3:13AM
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 Brick and Beam Realty
Investment Insights
Based on property information with market context.
This three-building warehouse portfolio combines industrial space with practical features for varied occupancy needs. The property was built in 1977 and extensively renovated in 2019, with multiple drive-in doors, fenced yard areas, on-site parking, upstairs office space, and a pylon sign. A mix of leased and available space supports both ongoing occupancy and additional use within the portfolio.
The property is zoned I-2 and offers access to I-40, I-44, and I-235. Its configuration includes warehouse improvements, office areas, and secured exterior yard space, providing a range of functional components within one industrial holding.
The property is zoned I-2 and offers access to I-40, I-44, and I-235. Its configuration includes warehouse improvements, office areas, and secured exterior yard space, providing a range of functional components within one industrial holding.
Key Highlights
- Three‑building industrial portfolio on approximately 1.54 acres
- Built in 1977 and extensively renovated in 2019
- I‑2 zoning with a mix of leased and available space
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
$151,684
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
7.15%
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%
$3,033,680
$3.0M
Cap Rate 7%
$2,166,914
$2.2M
Cap Rate 9%
$1,685,378
$1.7M
Market Conditions
NOI Build-Up for 24,950 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
$224.6K $9.00/SF
− Vacancy
−$7.9K −$0.32/SF
EGI
$216.7K $8.69/SF
− OpEx
−$65.0K −$2.61/SF
NOI
$151.7K $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%
$3,033,680
Cap Rate 7%
$2,166,914
Cap Rate 9%
$1,685,378
Alternative Uses
Best Use
Office B
$5.07M
$4.44M – $5.92M
NOI $354,969 @ 7.0% cap · market cap 16.74%
Second Best
Flex RnD
$4.80M
$4.20M – $5.60M
NOI $336,286 @ 7.0% cap · market cap 15.86%
Theoretical Best
Specialty Retail
$8.53M
$7.47M – $9.96M
NOI $597,303 @ 7.0% cap · market cap 28.16%
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
51
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 73108, OK
14,451
Population
6,221
Households
2.3
Avg Household Size
30
Median Age
4%
College-Educated
56%
High-School Grad
7.6 sq mi
ZIP Area
1,901
Density / Sq Mi
$35,278
Median Household Income
$31,017
Median Earnings
$799
Median Rent
$75,000
Median Home Value
Market
Vacancy Rate% for Office in Oklahoma City, OK
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Industrial warehouse portfolio with fenced yard areas, drive-in access, office space, and I-2 zoning.
Where is this warehouse located?
The property is located at 4401 3rd Street Oklahoma City, OK.
What is the asking price?
The asking price for this property is $2,120,750.
What are key features of this property?
This property features: Three‑building industrial portfolio on approximately 1.54 acres; Built in 1977 and extensively renovated in 2019; I‑2 zoning with a mix of leased and available space
