Light Industrial Flex
For Sale
$500,000
Pending
822 W Elgin St, Broken Arrow, OK 74012
Heated and air-conditioned light industrial building with office space, two restrooms, and three overhead garage doors.
Property Size4,133 SF
Days on Market81
Property Features for 822 W Elgin St
General Information
Standard status
Pending
Size
4,133 SF
Additional Details
Road Access
Yes
Drive-In Doors
3
Taxes and HOA fees
Annual Taxes
$3,538
Listing Agency:
Chinowth & Cohen
(918) 259-0000
Listed By:
Jessica Ford · License #177284
(918) 402-1813
Source:
Exprealty
Added: Jun 25
Changed: Sep 8
Last Checked: Sep 12 at 11:34AM
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 Chinowth & Cohen
Investment Insights
Based on property information with market context.
This light industrial flex building totals 4,133 square feet (AP) and is fully heated, air conditioned, and insulated for year-round use. The interior layout includes approximately 350 square feet of office space, two bathrooms, and more than 3,700 square feet of warehouse and production space. Three overhead garage doors provide direct, convenient access for equipment, inventory, vehicles, and shipping or receiving operations.
The property has upgraded electrical capacity, including an upgraded transformer, enhanced electrical service, and extensive electrical distribution throughout the building. It previously operated as a printing company and was also formerly used as an automotive repair facility.
With on-site office and substantial warehouse/production area served by multiple overhead doors, the building supports a range of light industrial and specialty trade uses for owner-occupants or users needing flexible space.
The property has upgraded electrical capacity, including an upgraded transformer, enhanced electrical service, and extensive electrical distribution throughout the building. It previously operated as a printing company and was also formerly used as an automotive repair facility.
With on-site office and substantial warehouse/production area served by multiple overhead doors, the building supports a range of light industrial and specialty trade uses for owner-occupants or users needing flexible space.
Key Highlights
- 4,133 sq ft (AP) light industrial building in Broken Arrow with warehouse/production plus about 350 sq ft of office space
- Fully heated, air conditioned, and insulated for year‑round work comfort
- Two bathrooms and an interior layout that supports office, warehouse, and production operations
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
$36,267
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
7.25%
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%
$725,340
$725.3K
Cap Rate 7%
$518,100
$518.1K
Cap Rate 9%
$402,967
$403.0K
Market Conditions
NOI Build-Up for 4,133 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
$62.0K $15.00/SF
− Vacancy
−$6.2K −$1.50/SF
EGI
$55.8K $13.50/SF
− OpEx
−$19.5K −$4.73/SF
NOI
$36.3K $8.78/SF
Area
Broken Arrow, OK
Vacancy
10.00%
Lease Rate
$15.00 /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%
$725,340
Cap Rate 7%
$518,100
Cap Rate 9%
$402,967
Alternative Uses
Best Use
Flex RnD
$518.1K
$453.3K – $604.5K
NOI $36,267 @ 7.0% cap · market cap 7.25%
Second Best
Industrial
$340.3K
$297.8K – $397.1K
NOI $23,823 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$966.8K
$845.9K – $1.13M
NOI $67,673 @ 7.0% cap · market cap 13.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,133
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 74012, OK
63,918
Population
26,069
Households
2.5
Avg Household Size
37
Median Age
34%
College-Educated
94%
High-School Grad
24.8 sq mi
ZIP Area
2,577
Density / Sq Mi
$80,079
Median Household Income
$44,321
Median Earnings
$1,211
Median Rent
$223,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Heated and air-conditioned light industrial building with office space, two restrooms, and three overhead garage doors.
Where is this flex space located?
The property is located at 822 W Elgin St Broken Arrow, OK.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 4,133 sq ft (AP) light industrial building in Broken Arrow with warehouse/production plus about 350 sq ft of office space; Fully heated, air conditioned, and insulated for year‑round work comfort; Two bathrooms and an interior layout that supports office, warehouse, and production operations
