Retail Space on Reno
For Sale
Contact for pricing
4624 W Reno Ave, Oklahoma City, OK 73127
Retail space with high traffic count and easy highway access.
Property Size3,696 SF
Lot Size0.84 Acres
Price / SF$246.21
Days on Market1844
Property Features for 4624 W Reno Ave
General Information
Standard status
Active
Size
3,696 SF
Lot size
0.84 Acres
Property subtype
Hospitality, Mixed Use, Retail, Special Purpose
Investment Type
Owner/User
Building Details
Stories
1
Listing Agency:
EVP Velocity Commercial Real Estate
(405) 818-6825
Listed By:
Terry Watson · License #OK 138882
Source:
Crexi
Added: Aug 6, 2021
Changed: Aug 8
Last Checked: Aug 20 at 12:31AM
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 EVP Velocity Commercial Real Estate
Investment Insights
Based on property information with market context.
This retail space is situated on a 36,312 square foot lot. The location benefits from a traffic count exceeding 22,000 vehicles on Reno Avenue. The property offers convenient access to I-40. All equipment and inventory currently on the property will remain.
Key Highlights
- High traffic count (22,000+)
- Large lot size (36,312 s.f.)
- Easy access to I‑40
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
$72,959
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
8.02%
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%
$1,459,180
$1.5M
Cap Rate 7%
$1,042,271
$1.0M
Cap Rate 9%
$810,656
$810.7K
Market Conditions
NOI Build-Up for 3,696 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
$110.9K $30.00/SF
− Vacancy
−$6.7K −$1.80/SF
EGI
$104.2K $28.20/SF
− OpEx
−$31.3K −$8.46/SF
NOI
$73.0K $19.74/SF
Area
Oklahoma City, OK
Vacancy
6.00%
Lease Rate
$30.00 /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%
$1,459,180
Cap Rate 7%
$1,042,271
Cap Rate 9%
$810,656
Alternative Uses
Best Use
Retail
$1.04M
$912.0K – $1.22M
NOI $72,959 @ 7.0% cap · market cap 8.02%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.26M
$1.11M – $1.47M
NOI $88,482 @ 7.0% cap · market cap 9.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
800
Businesses Nearby
84k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 66%
Hotels & Casinos 18%
Shops & Services 16%
McDonald's
Dining
27,289 visits/mo
0.2 miles
IHOP
Dining
12,200 visits/mo
0.3 miles
Casey's
Shops & Services
9,892 visits/mo
0.2 miles
On The Border Mexican Grill & Cantina
Dining
7,406 visits/mo
0.2 miles
Burger King
Dining
5,830 visits/mo
0.4 miles
Demographics for 73127, OK
27,007
Population
11,329
Households
2.4
Avg Household Size
32
Median Age
16%
College-Educated
76%
High-School Grad
11.3 sq mi
ZIP Area
2,390
Density / Sq Mi
$46,020
Median Household Income
$28,766
Median Earnings
$926
Median Rent
$139,200
Median Home Value
Market
Vacancy Rate% for Retail in Oklahoma City, OK
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space with high traffic count and easy highway access.
Where is this retail space located?
The property is located at 4624 W Reno Ave Oklahoma City, OK.
What is the asking price?
The asking price for this property is $910,000.
What are key features of this property?
This property features: High traffic count (22,000+); Large lot size (36,312 s.f.); Easy access to I‑40
