Building Details

Year Built 2019

Buildings 3

Listing Agency: LB Realty Group-MB of Oklahoma l***@hotmail.com Show Phone

Listed By: Lindsey Bunch · License #145779

Source: Alloverok

Added: Jul 20 Changed: Aug 31 Last Checked: Aug 30 at 8:21PM

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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 LB Realty Group-MB of Oklahoma

Investment Insights

Based on property information with market context.

This 6-acre flex property includes three separate buildings with varied commercial and support functions. Building 1 measures 40' x 80' x 16' and includes a 12' x 40' office, 20' x 20' loft, 2-ton heat and air unit, 400-amp electric service, two 12' x 12' overhead doors, and one 8' x 8' overhead door. Building 2 measures 36' x 60' x 14' and provides a loading dock, 10' x 20' covered porch, 5-ton heat and air unit, 200-amp electric service, one 12' x 12' overhead door, and one 8' x 8' overhead door.

Living quarters within Building 2 include a living room, kitchenette, mud bench, two bedrooms, one bathroom, and a loft. Building 3 is an 18' x 24' insulated storage building equipped with water and electricity. The property is located at 655 US Highway 277 in Ninnekah, with access to Highway 277 and the HE Bailey Turnpike.

Built in 2019, the property combines industrial-style building features with office, residential, and storage components across the site.

Key Highlights

• 6‑acre flex property with three buildings
• Building 1: 40' x 80' x 16' with 400‑amp electric service
• Building 1 includes two 12' x 12' and one 8' x 8' overhead doors

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

$64,194

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

8.85%

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%

$1,283,880 $1.3M

Cap Rate 7%

$917,057 $917.1K

Cap Rate 9%

$713,267 $713.3K

Market Conditions

NOI Build-Up for 8,514 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

$81.7K $9.60/SF

− Vacancy

−$6.2K −$0.73/SF

EGI

$75.5K $8.87/SF

− OpEx

−$11.3K −$1.33/SF

NOI

$64.2K $7.54/SF

Area

Grady County, OK

Vacancy

7.60%

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%

$1,283,880

Cap Rate 7%

$917,057

Cap Rate 9%

$713,267

Alternative Uses

Best Use

Flex RnD

$1.51M

$1.32M – $1.76M (±1% cap)

NOI $105,757 @ 7.0% cap · market cap 14.59%

Second Best

Warehouse

$917.1K

$802.4K – $1.07M (±1% cap)

NOI $64,194 @ 7.0% cap · market cap 8.85%

Theoretical Best

Specialty Retail

$2.06M

$1.80M – $2.40M (±1% cap)

NOI $144,057 @ 7.0% cap · market cap 19.87%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Flex space

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

1

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 73067, OK

1,783

Population

824

Households

2.2

Avg Household Size

44

Median Age

15%

College-Educated

92%

High-School Grad

122.5 sq mi

ZIP Area

15

Density / Sq Mi

$67,422

Median Household Income

$44,837

Median Earnings

$793

Median Rent

$123,100

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Six-acre commercial property with office areas, living quarters, storage, and highway and turnpike access.

Where is this flex space located?

The property is located at 655 Us Highway 277 Ninnekah, OK.

What is the asking price?

The asking price for this property is $725,000.

What are key features of this property?

This property features: 6‑acre flex property with three buildings; Building 1: 40' x 80' x 16' with 400‑amp electric service; Building 1 includes two 12' x 12' and one 8' x 8' overhead doors