Retail Building with Warehouse
For Sale
Contact for pricing
Pending
5615 S Western Ave, Oklahoma City, OK 73109
Freestanding retail building with warehouse and high visibility.
Property Size4,200 SF
Days on Market715
Property Features for 5615 S Western Ave
General Information
Standard status
Pending
Size
4,200 SF
Property subtype
Special Purpose
Listing Agency:
CENTURY 21 Judge Fite Company
Listed By:
Donica Bow · License #OK
Source:
Crexi
Added: Oct 29, 2024
Changed: Oct 10
Last Checked: Oct 12 at 8:23PM
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 CENTURY 21 Judge Fite Company
Investment Insights
Based on property information with market context.
This freestanding retail building features 2400 square feet of store space and a 40x45 square foot warehouse with an overhead door. The property is located on Western Avenue, benefiting from high visibility and traffic count. Zoned C3, the property allows for many options. Approximately 12 parking spaces are available. The roof was resealed in 2024. The building includes an office room and two bathrooms. All shelving and TVs can stay with the property. The total property size is 4200 square feet.
Key Highlights
- High visibility and traffic count on Western.
- Zoned C3 allows for many options.
- 2400 sq.ft. store space & 40x45 warehouse with overhead door.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,244
Cap Rate
7.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$664,880
$664.9K
Cap Rate 7%
$474,914
$474.9K
Cap Rate 9%
$369,378
$369.4K
Market Conditions
NOI Build-Up for 4,200 SF
Gross rent
$40.3K $9.60/SF
− Vacancy
−$1.2K −$0.29/SF
EGI
$39.1K $9.31/SF
− OpEx
−$5.9K −$1.40/SF
NOI
$33.2K $7.92/SF
Area
Oklahoma City, OK
Vacancy
3.00%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$664,880
Cap Rate 7%
$474,914
Cap Rate 9%
$369,378
Alternative Uses
Best Use
Retail
$1.18M
$1.04M – $1.38M
NOI $82,908 @ 7.0% cap · market cap 18.02%
Second Best
Warehouse
$474.9K
$415.6K – $554.1K
NOI $33,244 @ 7.0% cap · market cap 7.23%
Theoretical Best
Specialty Retail
$1.44M
$1.26M – $1.68M
NOI $100,548 @ 7.0% cap · market cap 21.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
764
Businesses Nearby
Explore this area
Business Placement
Demographics for 73109, OK
20,148
Population
8,344
Households
2.4
Avg Household Size
33
Median Age
7%
College-Educated
65%
High-School Grad
5.4 sq mi
ZIP Area
3,731
Density / Sq Mi
$40,944
Median Household Income
$28,370
Median Earnings
$851
Median Rent
$89,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Retail space - Freestanding retail building with warehouse and high visibility.
Where is this retail space located?
The property is located at 5615 S Western Ave Oklahoma City, OK.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: High visibility and traffic count on Western.; Zoned C3 allows for many options.; 2400 sq.ft. store space & 40x45 warehouse with overhead door.
