Flex Building with Yard
For Sale
Contact for pricing
552 W 138th St, Glenpool, OK 74033
5,000 SF flex building with five overhead doors and expansive graveled yard storage behind a gated, fenced perimeter.
Property Size5,000 SF
Lot Size1.06 Acres
Price / SF$168
Days on Market165
Property Features for 552 W 138th St
General Information
Standard status
Active
Size
5,000 SF
Class
B
Lot size
1.06 Acres
Property subtype
Industrial
Zoning
IL (Industrial Light)
Investment Type
Owner/User
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Building Details
Year Built
1980
Year Renovated
2004
Buildings
1
Stories
1
Units
1
Listing Agency:
Creek Price Edwards
Listed By:
Mitch Hammack · License #184349
(405) 948-7500
Source:
Crexi
Added: Mar 27
Changed: Sep 4
Last Checked: Sep 7 at 6:30AM
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 Creek Price Edwards
Investment Insights
Based on property information with market context.
This well-equipped flex building offers 5,000 SF of functional indoor space alongside expansive outdoor yard storage on 1.06 graveled acres. The facility includes five overhead doors and two covered canopies that can support material or equipment storage, along with a newly installed fence and gated entry for secure operations.
The property provides direct access to US-75, supporting efficient connectivity for businesses with freight, fleet, or field operations throughout the region. It is positioned as an owner-user setup designed for tenants needing both covered space and dedicated outdoor storage.
With multiple overhead doors, covered canopy space, and secure yard access, the layout is geared toward flexible day-to-day logistics and service-oriented uses that benefit from both warehouse functionality and outdoor staging.
The property provides direct access to US-75, supporting efficient connectivity for businesses with freight, fleet, or field operations throughout the region. It is positioned as an owner-user setup designed for tenants needing both covered space and dedicated outdoor storage.
With multiple overhead doors, covered canopy space, and secure yard access, the layout is geared toward flexible day-to-day logistics and service-oriented uses that benefit from both warehouse functionality and outdoor staging.
Key Highlights
- 5,000 SF flex building built in 1980
- Expansive graveled yard storage on 1.06 acres
- Five overhead doors for loading and access
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
$32,321
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
3.85%
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%
$646,420
$646.4K
Cap Rate 7%
$461,729
$461.7K
Cap Rate 9%
$359,122
$359.1K
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
$39.0K $7.80/SF
− Vacancy
−$975 −$0.20/SF
EGI
$38.0K $7.60/SF
− OpEx
−$5.7K −$1.14/SF
NOI
$32.3K $6.46/SF
Area
Tulsa County, OK
Vacancy
2.50%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
15.00%
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%
$646,420
Cap Rate 7%
$461,729
Cap Rate 9%
$359,122
Alternative Uses
Best Use
Warehouse
$461.7K
$404.0K – $538.7K
NOI $32,321 @ 7.0% cap · market cap 3.85%
Second Best
Flex RnD
$450.9K
$394.5K – $526.0K
NOI $31,561 @ 7.0% cap · market cap 3.76%
Theoretical Best
Office A
$1.13M
$986.0K – $1.31M
NOI $78,880 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
143
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 74033, OK
13,254
Population
4,868
Households
2.7
Avg Household Size
34
Median Age
25%
College-Educated
91%
High-School Grad
12.3 sq mi
ZIP Area
1,078
Density / Sq Mi
$77,306
Median Household Income
$43,382
Median Earnings
$1,292
Median Rent
$194,400
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 - 5,000 SF flex building with five overhead doors and expansive graveled yard storage behind a gated, fenced perimeter.
Where is this flex space located?
The property is located at 552 W 138th St Glenpool, OK.
What is the asking price?
The asking price for this property is $840,000.
What are key features of this property?
This property features: 5,000 SF flex building built in 1980; Expansive graveled yard storage on 1.06 acres; Five overhead doors for loading and access
