Adaptable Flex Space For
For Sale
Contact for pricing
Pending
4420 SW 33rd St, Oklahoma City, OK 73119
Adaptable flex space, ideal for various business needs.
Property Size3,750 SF
Days on Market155
Property Features for 4420 SW 33rd St
General Information
Standard status
Pending
Size
3,750 SF
Property subtype
Industrial
Zoning
Moderate Industrial (I-2)
Lease Type
NNN
Building Details
Year Built
1981
Year Renovated
2025
Buildings
1
Stories
1
Listing Agency:
ADEPT Commercial Real Estate
(405) 831-0059
Listed By:
Cody Beat · License #OK 182075
Source:
Crexi
Added: Mar 23
Changed: Aug 8
Last Checked: Jul 26 at 2:50PM
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 ADEPT Commercial Real Estate
Investment Insights
Based on property information with market context.
This property features a highly adaptable space suitable for a range of business needs. The functional layout provides flexibility for customizing the space to fit any industrial or flex business model. It is conveniently positioned directly off SW 33rd Street, less than a block from S. Meridian Avenue, and half a mile from the I-240 and S. Meridian interchange. The property size is 3,750 square feet.
Key Highlights
- Highly adaptable space suitable for a range of business needs.
- Functional layout provides flexibility for customizing the space.
- Conveniently positioned directly off SW 33rd Street.
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
$50,544
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
8.99%
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%
$1,010,880
$1.0M
Cap Rate 7%
$722,057
$722.1K
Cap Rate 9%
$561,600
$561.6K
Market Conditions
NOI Build-Up for 3,750 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
$81.0K $21.60/SF
− Vacancy
−$3.2K −$0.86/SF
EGI
$77.8K $20.74/SF
− OpEx
−$27.2K −$7.26/SF
NOI
$50.5K $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%
$1,010,880
Cap Rate 7%
$722,057
Cap Rate 9%
$561,600
Alternative Uses
Best Use
Flex RnD
$722.1K
$631.8K – $842.4K
NOI $50,544 @ 7.0% cap · market cap 8.99%
Second Best
Industrial
$325.7K
$285.0K – $380.0K
NOI $22,798 @ 7.0% cap · market cap 4.05%
Theoretical Best
Specialty Retail
$1.28M
$1.12M – $1.50M
NOI $89,775 @ 7.0% cap · market cap 15.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
330
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 73119, OK
31,216
Population
12,008
Households
2.6
Avg Household Size
31
Median Age
6%
College-Educated
61%
High-School Grad
6.8 sq mi
ZIP Area
4,591
Density / Sq Mi
$42,936
Median Household Income
$29,529
Median Earnings
$923
Median Rent
$93,600
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 - Adaptable flex space, ideal for various business needs.
Where is this flex space located?
The property is located at 4420 SW 33rd St Oklahoma City, OK.
What is the asking price?
The asking price for this property is $562,500.
What are key features of this property?
This property features: Highly adaptable space suitable for a range of business needs.; Functional layout provides flexibility for customizing the space.; Conveniently positioned directly off SW 33rd Street.
