Redevelopment Opportunity in Lincoln
For Sale
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628 NE 4th St, Oklahoma City, OK 73104
Redevelopment opportunity with flexible zoning in upcoming Lincoln Square.
Property Size1,878 SF
Price / SF$210.33
Days on Market1015
Property Features for 628 NE 4th St
General Information
Standard status
Active
Size
1,878 SF
Property subtype
Retail, Mixed Use
Zoning
C-4 (PUD 1700)
Lease Type
Modified Gross
Building Details
Year Built
1956
Tenancy
Single
Listing Agency:
Creek Price Edwards
(405) 510-0079
Listed By:
Tyler Huxley · License #OK
Source:
Crexi
Added: Nov 18, 2023
Changed: Aug 19
Last Checked: Aug 26 at 7:21PM
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
Investment Insights
Based on property information with market context.
This property presents a redevelopment opportunity within the upcoming Lincoln Square revitalization project. The property's zoning permits a variety of uses, offering flexibility in realizing your vision. Potential endeavors include mixed-use, commercial, or residential projects. The property size is 1878 square feet.
Key Highlights
- Redevelopment Opportunity in Lincoln Square Revitalization Area
- Zoning Permits a Variety of Uses
- Potential for Mixed‑Use Development
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
$25,916
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
6.56%
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%
$518,320
$518.3K
Cap Rate 7%
$370,229
$370.2K
Cap Rate 9%
$287,956
$288.0K
Market Conditions
NOI Build-Up for 1,878 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
$45.1K $24.00/SF
− Vacancy
−$3.6K −$1.92/SF
EGI
$41.5K $22.08/SF
− OpEx
−$15.5K −$8.28/SF
NOI
$25.9K $13.80/SF
Area
Oklahoma City, OK
Vacancy
8.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$518,320
Cap Rate 7%
$370,229
Cap Rate 9%
$287,956
Alternative Uses
Best Use
Mixed Use
$370.2K
$324.0K – $431.9K
NOI $25,916 @ 7.0% cap · market cap 6.56%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$642.3K
$562.0K – $749.3K
NOI $44,959 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,293
Businesses Nearby
Explore this area
Business Placement
Demographics for 73104, OK
3,545
Population
2,405
Households
1.5
Avg Household Size
29
Median Age
75%
College-Educated
97%
High-School Grad
1.6 sq mi
ZIP Area
2,216
Density / Sq Mi
$69,886
Median Household Income
$59,023
Median Earnings
$1,536
Median Rent
$341,300
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Redevelopment opportunity with flexible zoning in upcoming Lincoln Square.
Where is this mixed-use property located?
The property is located at 628 NE 4th St Oklahoma City, OK.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Redevelopment Opportunity in Lincoln Square Revitalization Area; Zoning Permits a Variety of Uses; Potential for Mixed‑Use Development
