Remodeled Flex
For Sale
$525,000
712 N Virginia Ave, Oklahoma City, OK 73106
Two-part layout combines freight-oriented storage with customer-facing space for showroom, retail, or office functions.
Property Size7,175 SF
Price / SF$73.17
Days on Market35
Property Features for 712 N Virginia Ave
General Information
Standard status
Active
Size
7,175 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Dock-High Doors
1
Drive-In Doors
1
Additional Details
Land Use
commercial, agricultural
Amenities
loading dock
garage door
Building Details
Year Built
1974
Buildings
1
Listing Agency:
LRE Realty LLC
(405) 414-8750
Listed By:
Tara Levinson · License #145328
Source:
Kathleenforrest
Added: Jul 29
Changed: Aug 29
Last Checked: Aug 31 at 7:05PM
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 LRE Realty LLC
Investment Insights
Based on property information with market context.
This 7,175-square-foot flex property, built in 1974 and recently remodeled, pairs industrial utility with customer-facing space. The rear portion provides warehouse and storage capacity, while the front section can accommodate showroom, retail, or office operations. Freight handling is supported by one loading dock and a large garage-door entrance.
The building has new electrical and HVAC systems and is configured for a controlled-environment grow operation. Select equipment may remain with the sale or be removed, giving the buyer flexibility in how the space is delivered. The property offers immediate access to I-40 and frontage along N Virginia Ave in Oklahoma City. Continued grow use is subject to buyer verification of applicable zoning.
The building has new electrical and HVAC systems and is configured for a controlled-environment grow operation. Select equipment may remain with the sale or be removed, giving the buyer flexibility in how the space is delivered. The property offers immediate access to I-40 and frontage along N Virginia Ave in Oklahoma City. Continued grow use is subject to buyer verification of applicable zoning.
Key Highlights
- 7,175 SF flex building on 0.16 acres
- Remodeled property with new electrical and HVAC systems
- Warehouse and storage area includes 1 loading dock
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
$43,620
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
8.31%
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%
$872,400
$872.4K
Cap Rate 7%
$623,143
$623.1K
Cap Rate 9%
$484,667
$484.7K
Market Conditions
NOI Build-Up for 7,175 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
$64.6K $9.00/SF
− Vacancy
−$2.3K −$0.32/SF
EGI
$62.3K $8.69/SF
− OpEx
−$18.7K −$2.61/SF
NOI
$43.6K $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%
$872,400
Cap Rate 7%
$623,143
Cap Rate 9%
$484,667
Alternative Uses
Best Use
Flex RnD
$1.38M
$1.21M – $1.61M
NOI $96,708 @ 7.0% cap · market cap 18.42%
Second Best
Warehouse
$811.3K
$709.9K – $946.5K
NOI $56,792 @ 7.0% cap · market cap 10.82%
Theoretical Best
Specialty Retail
$2.45M
$2.15M – $2.86M
NOI $171,770 @ 7.0% cap · market cap 32.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
1
Drive-in doors
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
646
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 73106, OK
12,956
Population
6,069
Households
2.1
Avg Household Size
32
Median Age
40%
College-Educated
85%
High-School Grad
3.0 sq mi
ZIP Area
4,319
Density / Sq Mi
$51,934
Median Household Income
$32,145
Median Earnings
$1,050
Median Rent
$262,500
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- TWS Catering — 1000 N Virginia Ave, Oklahoma City, OK 73106
- Meka Baked Goodies And More — 1820 NW 14th St, Oklahoma City, OK 73106
Frequently Asked Questions
What type of property is this?
Flex space - Two-part layout combines freight-oriented storage with customer-facing space for showroom, retail, or office functions.
Where is this flex space located?
The property is located at 712 N Virginia Ave Oklahoma City, OK.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 7,175 SF flex building on 0.16 acres; Remodeled property with new electrical and HVAC systems; Warehouse and storage area includes 1 loading dock
