Flex Condo with
For Sale
$389,000
6679 Prosper Circle #3, Edmond, OK 73034
Versatile flex space combines warehouse, lounge, wet bar, and full climate control for multiple commercial or recreational uses.
Property Size1,947 SF
Days on Market194
Property Features for 6679 Prosper Circle #3
General Information
Standard status
Active
Size
1,947 SF
Property subtype
Commercial
Zoning
PUD
Taxes and HOA fees
Annual Taxes
$2,388
Building Details
Building Size
1,947 SF
Year Built
2023
Stories
2
Listing Agency:
Brick and Beam Realty
(405) 439-9206
Listed By:
Chris Johnson · License #200452
(405) 435-3572
Source:
Capitalrealestateok
Added: Feb 20
Changed: Aug 31
Last Checked: Aug 31 at 5:11PM
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 Brick and Beam Realty
Investment Insights
Based on property information with market context.
Built in 2023, this industrial flex condominium at 6679 Prosper Circle, Suite #3, provides a practical combination of warehouse and finished support areas. The property includes approximately 1,320 SF of warehouse space plus a 627 SF mezzanine, along with a full bathroom, lounge area, and wet bar. A 12' x 14' overhead door supports warehouse access, while 20' ceilings add functional volume. Full heating and cooling, AT&T fiber internet, and secure keypad entry are also included.
The property is in Edmond, Oklahoma, near the I-35 and Waterloo Road interchange. Zoned PUD, the space is suited to storage, workshop, office, or recreational use based on its stated configuration and features.
The property is in Edmond, Oklahoma, near the I-35 and Waterloo Road interchange. Zoned PUD, the space is suited to storage, workshop, office, or recreational use based on its stated configuration and features.
Key Highlights
- Approximately 1,320 SF of warehouse space with a 627 SF mezzanine
- 12' x 14' overhead door and 20' ceilings
- Full heating and cooling with AT&T fiber internet
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
$24,305
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
6.25%
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%
$486,100
$486.1K
Cap Rate 7%
$347,214
$347.2K
Cap Rate 9%
$270,056
$270.1K
Market Conditions
NOI Build-Up for 1,947 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
$39.5K $20.28/SF
− Vacancy
−$2.1K −$1.07/SF
EGI
$37.4K $19.21/SF
− OpEx
−$13.1K −$6.72/SF
NOI
$24.3K $12.48/SF
Area
Oklahoma County, OK
Vacancy
5.30%
Lease Rate
$20.28 /SF/Yr
Expense Ratio
35.00%
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%
$486,100
Cap Rate 7%
$347,214
Cap Rate 9%
$270,056
Alternative Uses
Best Use
Flex RnD
$347.2K
$303.8K – $405.1K
NOI $24,305 @ 7.0% cap · market cap 6.25%
Second Best
Warehouse
$209.7K
$183.5K – $244.7K
NOI $14,680 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$405.5K
$354.8K – $473.1K
NOI $28,387 @ 7.0% cap · market cap 7.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 73034, OK
47,553
Population
18,727
Households
2.5
Avg Household Size
37
Median Age
59%
College-Educated
96%
High-School Grad
51.7 sq mi
ZIP Area
920
Density / Sq Mi
$113,296
Median Household Income
$52,163
Median Earnings
$1,203
Median Rent
$368,000
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 - Versatile flex space combines warehouse, lounge, wet bar, and full climate control for multiple commercial or recreational uses.
Where is this flex space located?
The property is located at 6679 Prosper Circle #3 Edmond, OK.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: Approximately 1,320 SF of warehouse space with a 627 SF mezzanine; 12' x 14' overhead door and 20' ceilings; Full heating and cooling with AT&T fiber internet
