I-240 Frontage Car
For Sale
$3,950,000
613 West Interstate 240 Service Road, Oklahoma City, OK 73139
Car dealership with showroom and maintenance shop on 4.95 acres.
Property Size17,900 SF
Lot Size4.95 Acres
Price / SF$220.67
Days on Market178
Property Features for 613 West Interstate 240 Service Road
General Information
Standard status
Active
Size
17,900 SF
Lot size
4.95 Acres
Property subtype
Special Purpose
Building Details
Building Size
17,900 SF
Year Built
1999
Listing Agency:
Creek Price Edwards and Company - Oklahoma City
(405) 408-5449
Listed By:
Danny Rivera
(405) 408-5449
Source:
Tcnworldwide
Added: Mar 6
Changed: Aug 21
Last Checked: Aug 30 at 4:07PM
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
Investment Insights
Based on property information with market context.
This property, formerly a car dealership, presents a business opportunity with high visibility along the I-240 corridor in Oklahoma City. It features a 6,000 square foot office showroom and an 11,900 square foot maintenance shop, situated on a 4.95-acre lot. The location benefits from its position in a high-traffic area. The site offers potential for redevelopment with ample space for expansion. The property is zoned C-3 and has frontage on I-240.
Key Highlights
- High visibility location with I‑240 frontage in a high‑traffic area.
- Large 4.95‑acre lot offering ample space for redevelopment and expansion.
- Includes a 6,000 sf office/showroom and an 11,900 sf maintenance shop.
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
$353,346
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
8.95%
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%
$7,066,920
$7.1M
Cap Rate 7%
$5,047,800
$5.0M
Cap Rate 9%
$3,926,067
$3.9M
Market Conditions
NOI Build-Up for 17,900 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
$537.0K $30.00/SF
− Vacancy
−$32.2K −$1.80/SF
EGI
$504.8K $28.20/SF
− OpEx
−$151.4K −$8.46/SF
NOI
$353.3K $19.74/SF
Area
Oklahoma City, OK
Vacancy
6.00%
Lease Rate
$30.00 /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%
$7,066,920
Cap Rate 7%
$5,047,800
Cap Rate 9%
$3,926,067
Alternative Uses
Best Use
Retail
$5.05M
$4.42M – $5.89M
NOI $353,346 @ 7.0% cap · market cap 8.95%
Second Best
Industrial
$1.55M
$1.36M – $1.81M
NOI $108,823 @ 7.0% cap · market cap 2.76%
Theoretical Best
Specialty Retail
$6.12M
$5.36M – $7.14M
NOI $428,526 @ 7.0% cap · market cap 10.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
992
Businesses Nearby
357k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 60%
Shops & Services 21%
Apparel 15%
Hotels & Casinos 2%
Chick-fil-A
Dining
56,182 visits/mo
0.4 miles
Academy Sports + Outdoors
Apparel
52,000 visits/mo
0.4 miles
McDonald's
Dining
39,440 visits/mo
0.3 miles
Dutch Bros. Coffee
Dining
25,173 visits/mo
0.2 miles
7-Eleven
Shops & Services
19,769 visits/mo
0.3 miles
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 Retail in Oklahoma City, OK
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- American Glass Co — 8003 S Western Ave, Oklahoma City, OK 73139
- Precision Tune Auto Care — 8000 S Western Ave, Oklahoma City, OK 73139
- Honda Service Center — 1030 W I-240 Service Road, Oklahoma City, OK 73139
- David Stanley Chevrolet — W I- 240 Srv Rd, Oklahoma City, OK 73139, United States
- Chevrolet Service — 614 w interstate 240 service rd, oklahoma city, ok 73139
Frequently Asked Questions
What type of property is this?
Auto shop - Car dealership with showroom and maintenance shop on 4.95 acres.
Where is this auto shop located?
The property is located at 613 West Interstate 240 Service Road Oklahoma City, OK.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: High visibility location with I‑240 frontage in a high‑traffic area.; Large 4.95‑acre lot offering ample space for redevelopment and expansion.; Includes a 6,000 sf office/showroom and an 11,900 sf maintenance shop.
