Flex Space with Gated Yard and Highway
For Sale
Contact for pricing
52583 W HWY 33, Drumright, OK 74030
Flex space with a large gated, graveled yard and frontage on State Highway 33 for convenient access to the Turnpike.
Property Size5,000 SF
Price / SF$60
Days on Market58
Property Features for 52583 W HWY 33
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Industrial, Mixed Use, Land
Investment Type
Owner/User
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Building Details
Year Built
1978
Buildings
3
Stories
1
Units
1
Listing Agency:
Keller Williams
Listed By:
BC Flanigan · License #211205
(918) 712-2252
Source:
Crexi
Added: Jul 27
Changed: Sep 3
Last Checked: Sep 21 at 5:03AM
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 Keller Williams
Investment Insights
Based on property information with market context.
Flex space offering approximately 5,000 SF of office/warehouse space, built in 1978. The property includes a large gated and graveled yard, supporting use cases such as equipment storage and trailer parking.
The site has frontage on State Highway 33, providing high visibility and quick access to the 44 Turnpike. The gated yard and yard surfacing are geared toward operational storage needs, while the office/warehouse layout supports day-to-day coordination on site.
The site has frontage on State Highway 33, providing high visibility and quick access to the 44 Turnpike. The gated yard and yard surfacing are geared toward operational storage needs, while the office/warehouse layout supports day-to-day coordination on site.
Key Highlights
- Approximately 5,000 SF office/warehouse flex space
- Large gated and graveled yard for equipment storage and trailer parking
- Frontage on State Highway 33 for high visibility
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
$25,853
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
8.62%
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%
$517,060
$517.1K
Cap Rate 7%
$369,329
$369.3K
Cap Rate 9%
$287,256
$287.3K
Market Conditions
NOI Build-Up for 5,000 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
$42.0K $8.40/SF
− Vacancy
−$2.2K −$0.45/SF
EGI
$39.8K $7.95/SF
− OpEx
−$13.9K −$2.78/SF
NOI
$25.9K $5.17/SF
Area
Creek County, OK
Vacancy
5.30%
Lease Rate
$8.40 /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%
$517,060
Cap Rate 7%
$369,329
Cap Rate 9%
$287,256
Alternative Uses
Best Use
Warehouse
$417.0K
$364.8K – $486.5K
NOI $29,187 @ 7.0% cap · market cap 9.73%
Second Best
Flex RnD
$369.3K
$323.2K – $430.9K
NOI $25,853 @ 7.0% cap · market cap 8.62%
Theoretical Best
Office A
$1.23M
$1.08M – $1.43M
NOI $86,069 @ 7.0% cap · market cap 28.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
77
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 74030, OK
3,529
Population
1,675
Households
2.1
Avg Household Size
41
Median Age
12%
College-Educated
89%
High-School Grad
69.4 sq mi
ZIP Area
51
Density / Sq Mi
$42,208
Median Household Income
$37,839
Median Earnings
$523
Median Rent
$90,100
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.
Frequently Asked Questions
What type of property is this?
Flex space - Flex space with a large gated, graveled yard and frontage on State Highway 33 for convenient access to the Turnpike.
Where is this flex space located?
The property is located at 52583 W HWY 33 Drumright, OK.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Approximately 5,000 SF office/warehouse flex space; Large gated and graveled yard for equipment storage and trailer parking; Frontage on State Highway 33 for high visibility
