Freestanding Restaurant with
For Sale
Contact for pricing
5008 SE 29th St, Oklahoma City, OK 73115
Freestanding restaurant featuring a drive-thru, offered for sale near Tinker Air Force Base.
Property Size3,680 SF
Price / SF$285.33
Days on Market296
Property Features for 5008 SE 29th St
General Information
Standard status
Active
Size
3,680 SF
Property subtype
RETAIL
Listing Agency:
Newmark Robinson Park | Oklahoma City
(405) 840-1500
Listed By:
Jay Cohlmia · License #175503
(405) 602-2989
Source:
Moodyscre
Added: Nov 21, 2025
Changed: Aug 8
Last Checked: Sep 12 at 11:45AM
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 Newmark Robinson Park | Oklahoma City
Investment Insights
Based on property information with market context.
This freestanding restaurant includes a drive-thru and offers 3,680 square feet of space. The property is presented for sale at a price described as below replacement cost.
The site is located about one-half mile from Tinker Air Force Base, identified in the remarks as the largest single-site employer in Oklahoma with 29,605 on-site employees and an estimated $5.38B annual economic impact. It is also listed as approximately 7 miles, or a 13-minute drive, from Oklahoma City’s CBD.
For buyers and operators seeking a drive-thru restaurant format in a high-employment area, this location at 5008 SE 29th St, Oklahoma City, OK 73115 provides a compact, purpose-built configuration with direct service access.
The site is located about one-half mile from Tinker Air Force Base, identified in the remarks as the largest single-site employer in Oklahoma with 29,605 on-site employees and an estimated $5.38B annual economic impact. It is also listed as approximately 7 miles, or a 13-minute drive, from Oklahoma City’s CBD.
For buyers and operators seeking a drive-thru restaurant format in a high-employment area, this location at 5008 SE 29th St, Oklahoma City, OK 73115 provides a compact, purpose-built configuration with direct service access.
Key Highlights
- Freestanding restaurant with a drive‑thru
- Priced below replacement cost
- Located 0.5 mile from Tinker Air Force Base, Oklahoma’s largest single‑site employer with 29,605 on‑site employees
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
$88,099
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
8.39%
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%
$1,761,980
$1.8M
Cap Rate 7%
$1,258,557
$1.3M
Cap Rate 9%
$978,878
$978.9K
Market Conditions
NOI Build-Up for 3,680 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
$123.6K $33.60/SF
− Vacancy
−$6.2K −$1.68/SF
EGI
$117.5K $31.92/SF
− OpEx
−$29.4K −$7.98/SF
NOI
$88.1K $23.94/SF
Area
Oklahoma City, OK
Vacancy
5.00%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
25.00%
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%
$1,761,980
Cap Rate 7%
$1,258,557
Cap Rate 9%
$978,878
Alternative Uses
Best Use
Specialty Retail
$1.26M
$1.10M – $1.47M
NOI $88,099 @ 7.0% cap · market cap 8.39%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
521
Businesses Nearby
91k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 79%
Shops & Services 21%
McDonald's
Dining
30,957 visits/mo
0.5 miles
OnCue Express
Shops & Services
13,681 visits/mo
0.2 miles
Taco Bell
Dining
11,742 visits/mo
0.2 miles
Chicken Express
Dining
7,478 visits/mo
0.2 miles
Wendy's
Dining
7,263 visits/mo
0.4 miles
Demographics for 73115, OK
20,880
Population
9,329
Households
2.2
Avg Household Size
36
Median Age
16%
College-Educated
90%
High-School Grad
5.9 sq mi
ZIP Area
3,539
Density / Sq Mi
$48,579
Median Household Income
$35,627
Median Earnings
$1,024
Median Rent
$111,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Oklahoma City, OK
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Freestanding restaurant featuring a drive-thru, offered for sale near Tinker Air Force Base.
Where is this drive through restaurant located?
The property is located at 5008 SE 29th St Oklahoma City, OK.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Freestanding restaurant with a drive‑thru; Priced below replacement cost; Located 0.5 mile from Tinker Air Force Base, Oklahoma’s largest single‑site employer with 29,605 on‑site employees
