New Flex Space With Grade
For Sale
$1,279,000
4415 W Reno Avenue, Oklahoma City, OK 73107
Commercial Sale, Oklahoma City, OK
Property Size8,080 SF
Lot Size0.62 Acres
Price / SF$158.29
Days on Market597
Property Features for 4415 W Reno Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
Industrial
Directions
From W Reno Avenue and S Meridian Rd East one block on Reno to property on North side of Reno
Standard status
Active
APN
4415WReno73107
Size
8,080 SF
Lot size
0.62 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
lighted monument sign
sprinklered landscaping
Building Details
Year built
2024
Floors in Building
1
Building materials
EFIS, Metal Siding
Listing Agency:
Andy Janko Realty Ltd Co.
(405) 790-0404
Listed By:
Dave Shannon · License #138374
(405) 620-6720
Added: Jan 3, 2025
Changed: Aug 20
Last Checked: Aug 23 at 9:06AM
MLS# 1149454
Copyright © 2026 MLSOK, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Completed in 2024, this 8,080-square-foot flex property combines a storefront-oriented layout with warehouse capability. Two 10' X 10' grade-level doors support material handling and storage functions, while EFIS and metal siding form the exterior. The property is classified for Industrial use and includes public water and public sewer service.
Situated at 4415 W Reno Avenue in Oklahoma City, the site includes 37 dedicated parking spaces on a 0.6227-acre parcel. Reno Avenue frontage provides direct street exposure, and the property offers access to Interstate routes. A lighted monument sign and sprinklered landscaping are also part of the site improvements.
Situated at 4415 W Reno Avenue in Oklahoma City, the site includes 37 dedicated parking spaces on a 0.6227-acre parcel. Reno Avenue frontage provides direct street exposure, and the property offers access to Interstate routes. A lighted monument sign and sprinklered landscaping are also part of the site improvements.
Key Highlights
- 8,080 square feet of flex space completed in 2024
- Two 10' X 10' grade doors support warehouse functions
- 37 dedicated parking spaces
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
832
Businesses Nearby
Well-served
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Okc Soda Co. — 520 N Meridian Ave, Oklahoma City, OK 73107
- Mimosa Creek Mixology — 520 N Meridian Ave, Oklahoma City, OK 73107
Frequently Asked Questions
What type of property is this?
Flex space - 2024-built flex property combines a storefront configuration with warehouse functionality and dedicated parking.
Where is this flex space located?
The property is located at 4415 W Reno Avenue 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 square feet of flex space completed in 2024; Two 10' X 10' grade doors support warehouse functions; 37 dedicated parking spaces
