Retail/Showroom/Flex Space For
For Sale
$1,850,000
601 W I-240 Service Road, Oklahoma City, OK 73139
Retail/Showroom/Flex space remodeled in 2008-2009, currently occupied by Bryan’s Flooring.
Property Size22,540 SF
Price / SF$82.08
Days on Market270
Property Features for 601 W I-240 Service Road
General Information
Standard status
Active
Size
22,540 SF
Class
B
Property subtype
Office
Building Details
Building Size
22,540 SF
Year Built
1987
Listing Agency:
Creek Price Edwards and Company - Oklahoma City
Listed By:
Tom Fields
(405) 641-0598
Source:
Tcnworldwide
Added: Jan 27
Changed: Oct 3
Last Checked: Oct 23 at 5:24AM
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 and Company - Oklahoma City
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property, constructed in 1987 and remodeled in 2008-2009, is currently occupied by Bryan’s Flooring. It functions as a retail, showroom, and flex space, with an approximate 50-50 division between showroom and warehouse areas. The property has a size of 22,540 square feet and dimensions of approximately 115 feet by 196 feet. A new roof was installed in 2010 by Southwest Roofing at a cost of approximately $90,000. The west side of the building features a 12-foot by 11.42-foot overhead door, while the north side has an 8-foot by 10-foot overhead door. According to the county assessor, the property's identification number is R132205410. The 2020 property taxes were $22,584, and the annual insurance cost is approximately $8,511.
Key Highlights
- Remodeled retail/showroom/flex space with approximately 50‑50 showroom/warehouse split.
- New roof installed in 2010 by Southwest Roofing (approximately $90,000 value).
- Includes a 12' x 11'-5' overhead door on the west side.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$137,032
Cap Rate
7.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,740,640
$2.7M
Cap Rate 7%
$1,957,600
$2.0M
Cap Rate 9%
$1,522,578
$1.5M
Market Conditions
NOI Build-Up for 22,540 SF
Gross rent
$202.9K $9.00/SF
− Vacancy
−$7.1K −$0.32/SF
EGI
$195.8K $8.69/SF
− OpEx
−$58.7K −$2.61/SF
NOI
$137.0K $6.08/SF
Area
Oklahoma City, OK
Vacancy
3.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,740,640
Cap Rate 7%
$1,957,600
Cap Rate 9%
$1,522,578
Alternative Uses
Best Use
Retail
$6.36M
$5.56M – $7.42M
NOI $444,940 @ 7.0% cap · market cap 24.05%
Second Best
Flex RnD
$4.34M
$3.80M – $5.06M
NOI $303,803 @ 7.0% cap · market cap 16.42%
Theoretical Best
Specialty Retail
$7.71M
$6.75M – $8.99M
NOI $539,608 @ 7.0% cap · market cap 29.17%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,104
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 73139, OK
18,781
Population
8,790
Households
2.1
Avg Household Size
35
Median Age
15%
College-Educated
79%
High-School Grad
4.4 sq mi
ZIP Area
4,268
Density / Sq Mi
$47,424
Median Household Income
$34,557
Median Earnings
$946
Median Rent
$164,100
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - Retail/Showroom/Flex space remodeled in 2008-2009, currently occupied by Bryan’s Flooring.
Where is this flex space located?
The property is located at 601 W I-240 Service Road Oklahoma City, OK.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Remodeled retail/showroom/flex space with approximately 50‑50 showroom/warehouse split.; New roof installed in 2010 by Southwest Roofing (approximately $90,000 value).; Includes a 12' x 11'-5' overhead door on the west side.
