Manufacturing Site with Warehouse
For Sale
$4,850,000
601 N Oklahoma Ave, Oklahoma City, OK 73102
Adjacent vacant buildings, raw redevelopment land, and SPUD zoning with DHSA overlay.
Property Size31,106 SF
Price / SF$143.93
Days on Market105
Property Features for 601 N Oklahoma Ave
General Information
Standard status
Active
Size
31,106 SF
Class
C
Property subtype
Industrial
Zoning
SPUD
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Land Use
industrial, manufacturing
Building Details
Building Size
31,106 SF
Year Built
1930
Buildings
2
Construction
metal
Listing Agency:
Creek Commercial Realty
Listed By:
Troy Humphrey · License #174229
Source:
Commercialcafe
Added: May 20
Changed: Aug 31
Last Checked: Aug 31 at 1:25PM
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 Commercial Realty
Investment Insights
Based on property information with market context.
The property includes two adjoining parcels at 601 & 621 N Oklahoma Ave with vacant warehouse, metal, and storage buildings totaling 33,698 SF. Raw land is also included, providing an additional component for redevelopment. The buildings are positioned to share parking across the site.
The property is in central Oklahoma City near I-235, with access from NE 5th and NE 6th Street. Zoning is SPUD with a DHSA overlay and underlying DBD designation, creating a defined regulatory framework for the site’s existing improvements and land component.
The property is in central Oklahoma City near I-235, with access from NE 5th and NE 6th Street. Zoning is SPUD with a DHSA overlay and underlying DBD designation, creating a defined regulatory framework for the site’s existing improvements and land component.
Key Highlights
- 33,698 SF across vacant warehouse, metal, and storage buildings
- Two adjacent properties at 601 & 621 N Oklahoma Ave
- Raw land included for redevelopment
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
$266,726
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
5.50%
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%
$5,334,520
$5.3M
Cap Rate 7%
$3,810,371
$3.8M
Cap Rate 9%
$2,963,622
$3.0M
Market Conditions
NOI Build-Up for 33,698 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
$323.5K $9.60/SF
− Vacancy
−$9.7K −$0.29/SF
EGI
$313.8K $9.31/SF
− OpEx
−$47.1K −$1.40/SF
NOI
$266.7K $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 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%
$5,334,520
Cap Rate 7%
$3,810,371
Cap Rate 9%
$2,963,622
Alternative Uses
Best Use
Warehouse
$3.81M
$3.33M – $4.45M
NOI $266,726 @ 7.0% cap · market cap 5.50%
Second Best
Industrial
$2.93M
$2.56M – $3.41M
NOI $204,867 @ 7.0% cap · market cap 4.22%
Theoretical Best
Specialty Retail
$11.52M
$10.08M – $13.45M
NOI $806,730 @ 7.0% cap · market cap 16.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,594
Businesses Nearby
Explore this area
Business Placement
Demographics for 73102, OK
3,072
Population
1,460
Households
2.1
Avg Household Size
35
Median Age
27%
College-Educated
86%
High-School Grad
0.8 sq mi
ZIP Area
3,840
Density / Sq Mi
$67,542
Median Household Income
$37,067
Median Earnings
$1,253
Median Rent
$212,500
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?
Manufacturing property - Adjacent vacant buildings, raw redevelopment land, and SPUD zoning with DHSA overlay.
Where is this manufacturing property located?
The property is located at 601 N Oklahoma Ave Oklahoma City, OK.
What is the asking price?
The asking price for this property is $4,850,000.
What are key features of this property?
This property features: 33,698 SF across vacant warehouse, metal, and storage buildings; Two adjacent properties at 601 & 621 N Oklahoma Ave; Raw land included for redevelopment
