Flex Space with Grade-Level
For Sale
$1,279,000
4415 W Reno Ave, Oklahoma City, OK 73107
Storefront-oriented property pairs dedicated parking with functional warehouse capacity and direct interstate access.
Property Size8,080 SF
Lot Size0.62 Acres
Price / SF$158.29
Days on Market34
Property Features for 4415 W Reno Ave
General Information
Standard status
Active
Size
8,080 SF
Class
Class A
Total Parking Spaces
37
Lot size
0.62 Acres
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Drive-In Doors
2
Amenities
lighted monument sign
sprinklered landscaping
Building Details
Year Built
2024
Listing Agency:
Andy Janko Realty Ltd Co.
(405) 620-6720
Listed By:
Dave Shannon · License #138374
Source:
Bktoklahomacity
Added: Jul 29
Changed: Aug 31
Last Checked: Aug 30 at 8:53PM
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 Andy Janko Realty Ltd Co.
Investment Insights
Based on property information with market context.
Built in 2024, this 8,080-square-foot flex property combines a storefront-oriented layout with warehouse functionality. Two 10-by-10-foot grade-level doors support loading and storage operations, while a lighted monument sign and landscaped grounds contribute to the property’s physical presentation. The site includes 37 dedicated parking spaces and a 4.6:1 parking ratio.
The property occupies a 0.62-acre parcel with frontage on Reno Avenue and convenient interstate access. Its configuration can accommodate a range of showroom, supply, equipment, parts, or service-oriented commercial concepts, subject to applicable approvals. The property is available for sale or lease, with NNN identified as the lease structure.
The property occupies a 0.62-acre parcel with frontage on Reno Avenue and convenient interstate access. Its configuration can accommodate a range of showroom, supply, equipment, parts, or service-oriented commercial concepts, subject to applicable approvals. The property is available for sale or lease, with NNN identified as the lease structure.
Key Highlights
- 8,080 SF flex property completed in 2024
- Two 10' X 10' grade doors provide warehouse access
- 37 dedicated parking spaces with a 4.6:1 parking ratio
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
$108,905
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
8.51%
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%
$2,178,100
$2.2M
Cap Rate 7%
$1,555,786
$1.6M
Cap Rate 9%
$1,210,056
$1.2M
Market Conditions
NOI Build-Up for 8,080 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
$174.5K $21.60/SF
− Vacancy
−$7.0K −$0.86/SF
EGI
$167.5K $20.74/SF
− OpEx
−$58.6K −$7.26/SF
NOI
$108.9K $13.48/SF
Area
Oklahoma City, OK
Vacancy
4.00%
Lease Rate
$21.60 /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%
$2,178,100
Cap Rate 7%
$1,555,786
Cap Rate 9%
$1,210,056
Alternative Uses
Best Use
Retail
$2.28M
$1.99M – $2.66M
NOI $159,499 @ 7.0% cap · market cap 12.47%
Second Best
Flex RnD
$1.56M
$1.36M – $1.82M
NOI $108,905 @ 7.0% cap · market cap 8.51%
Theoretical Best
Specialty Retail
$2.76M
$2.42M – $3.22M
NOI $193,435 @ 7.0% cap · market cap 15.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
89
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 73107, OK
26,318
Population
12,621
Households
2.1
Avg Household Size
34
Median Age
31%
College-Educated
80%
High-School Grad
7.6 sq mi
ZIP Area
3,463
Density / Sq Mi
$58,428
Median Household Income
$38,753
Median Earnings
$1,014
Median Rent
$143,000
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 - Storefront-oriented property pairs dedicated parking with functional warehouse capacity and direct interstate access.
Where is this flex space located?
The property is located at 4415 W Reno Ave Oklahoma City, OK.
What is the asking price?
The asking price for this property is $1,279,000.
What are key features of this property?
This property features: 8,080 SF flex property completed in 2024; Two 10' X 10' grade doors provide warehouse access; 37 dedicated parking spaces with a 4.6:1 parking ratio
