Corner Redevelopment Flex
For Sale
Contact for pricing
823 N Walker Ave, Oklahoma City, OK 73102
Corner flex building with three overhead doors, suitable for retail, office, or light manufacturing redevelopment.
Property Size7,000 SF
Price / SF$155.57
Days on Market1369
Property Features for 823 N Walker Ave
General Information
Standard status
Active
Size
7,000 SF
Property subtype
RETAIL
Listing Agency:
Wiggin Properties - OKC
(405) 842-0100
Listed By:
Matt Ralls
(405) 740-6928
Source:
Moodyscre
Added: Feb 1, 2023
Changed: Oct 25
Last Checked: Oct 30 at 3:18PM
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 Wiggin Properties - OKC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This corner redevelopment opportunity includes an existing building with three overhead doors. The property lends itself to retail, office, or light manufacturing uses, offering flexibility for a range of commercial redevelopment plans.
The site is located across the street from St. Anthony Hospital in downtown Oklahoma City, along the west perimeter of Midtown. The address at 823 N Walker Ave is walkable to local restaurants and shops.
For buyers seeking a flexible improvement footprint, the existing overhead-door configuration provides a practical starting point for redevelopment of the corner location.
The site is located across the street from St. Anthony Hospital in downtown Oklahoma City, along the west perimeter of Midtown. The address at 823 N Walker Ave is walkable to local restaurants and shops.
For buyers seeking a flexible improvement footprint, the existing overhead-door configuration provides a practical starting point for redevelopment of the corner location.
Key Highlights
- Corner lot redevelopment opportunity across the street from St. Anthony Hospital
- Existing building has 3 overhead doors
- Existing property lends itself to retail, office, or light manufacturing uses
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$94,349
Cap Rate
8.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,886,980
$1.9M
Cap Rate 7%
$1,347,843
$1.3M
Cap Rate 9%
$1,048,322
$1.0M
Market Conditions
NOI Build-Up for 7,000 SF
Gross rent
$151.2K $21.60/SF
− Vacancy
−$6.0K −$0.86/SF
EGI
$145.2K $20.74/SF
− OpEx
−$50.8K −$7.26/SF
NOI
$94.3K $13.48/SF
Area
Oklahoma City, OK
Vacancy
4.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,886,980
Cap Rate 7%
$1,347,843
Cap Rate 9%
$1,048,322
Alternative Uses
Best Use
Flex RnD
$1.35M
$1.18M – $1.57M
NOI $94,349 @ 7.0% cap · market cap 8.66%
Second Best
Industrial
$608.0K
$532.0K – $709.3K
NOI $42,557 @ 7.0% cap · market cap 3.91%
Theoretical Best
Specialty Retail
$2.39M
$2.09M – $2.79M
NOI $167,580 @ 7.0% cap · market cap 15.39%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
5,398
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 73102, OK
3,072
Population
1,460
Households
2.1
Avg Household Size
35
Median Age
27%
College-Educated
86%
High-School Grad
0.8 sq mi
ZIP Area
3,840
Density / Sq Mi
$67,542
Median Household Income
$37,067
Median Earnings
$1,253
Median Rent
$212,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- REV Catering — 916 NW 6th St, Oklahoma City, OK 73106
- Evolve the Burger - The Collective — 308 nw 10th st, oklahoma city, ok 73103
- Fox & Forage Catering - Oklahoma's Premier Custom Caterer — 11 NW 11th St, Oklahoma City, OK 73103
Frequently Asked Questions
What type of property is this?
Flex space - Corner flex building with three overhead doors, suitable for retail, office, or light manufacturing redevelopment.
Where is this flex space located?
The property is located at 823 N Walker Ave Oklahoma City, OK.
What is the asking price?
The asking price for this property is $1,089,000.
What are key features of this property?
This property features: Corner lot redevelopment opportunity across the street from St. Anthony Hospital; Existing building has 3 overhead doors; Existing property lends itself to retail, office, or light manufacturing uses
