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 Market194
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:
Price Edwards and Company - Oklahoma City
(405) 641-0598
Listed By:
Tom Fields
(405) 641-0598
Source:
Tcnworldwide
Added: Jan 27
Changed: Aug 8
Last Checked: Aug 9 at 5:06AM
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 Price Edwards and Company - Oklahoma City
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 = 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
$137,032
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
7.41%
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%
$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
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
$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 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%
$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.
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
Questions? Ask Rey
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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.
