Industrial Flex Site with Large
For Sale
Contact for pricing
8500 Frankoma Road, Sapulpa, OK 74066
Nearly five-acre industrial site with substantial asphalt parking and an interior layout suited for light industrial or group uses.
Property Size6,172 SF
Price / SF$80.69
Days on Market50
Property Features for 8500 Frankoma Road
General Information
Standard status
Active
Size
6,172 SF
Total Parking Spaces
40
Property subtype
Industrial, Special Purpose, Mixed Use
Building Details
Buildings
1
Listing Agency:
Steve Dakil Realty
(918) 451-7770
Listed By:
steve dakil · License #Oklahoma 069748
Source:
Crexi
Added: Jun 21
Changed: Aug 8
Last Checked: Aug 8 at 12:34PM
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 Steve Dakil Realty
Investment Insights
Based on property information with market context.
This nearly five-acre industrial flex property includes a roughly 6,172-square-foot building with an interior layout featuring an auditorium, kitchen/banquet area, restrooms, and classrooms/offices. The site is described as having large asphalt parking with marked spaces, supporting operations that need on-site yard and vehicle storage capacity. The property is being sold in as-is, where-is condition, and is subject to rezoning, which the listing states is believed to be feasible.
The property is positioned within the Creek County Sapulpa industrial master plan. The remarks indicate no building permits are required. Access considerations include proximity to Highway Route 66, Interstate 44, and the South Tulsa Creek turnpike.
For tenants, buyers, or operators looking for a light industrial site with significant asphalt parking and an existing functional interior, this offering may fit a range of use scenarios. The listing describes the property as an option for light industrial activity as well as facilities such as a union hall, civic group or social agency, or a studio. Interested parties should review rezoning requirements with the appropriate authorities and confirm how the existing space and yard configuration align with their intended program.
The property is positioned within the Creek County Sapulpa industrial master plan. The remarks indicate no building permits are required. Access considerations include proximity to Highway Route 66, Interstate 44, and the South Tulsa Creek turnpike.
For tenants, buyers, or operators looking for a light industrial site with significant asphalt parking and an existing functional interior, this offering may fit a range of use scenarios. The listing describes the property as an option for light industrial activity as well as facilities such as a union hall, civic group or social agency, or a studio. Interested parties should review rezoning requirements with the appropriate authorities and confirm how the existing space and yard configuration align with their intended program.
Key Highlights
- Nearly 5‑acre industrial site with roughly 6,172 SF interior space
- Large asphalt‑marked parking area for yard and parking requirements
- Interior layout includes auditorium, kitchen/banquet area, restrooms, and classrooms/offices
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
$31,913
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
6.41%
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%
$638,260
$638.3K
Cap Rate 7%
$455,900
$455.9K
Cap Rate 9%
$354,589
$354.6K
Market Conditions
NOI Build-Up for 6,172 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
$51.8K $8.40/SF
− Vacancy
−$2.7K −$0.45/SF
EGI
$49.1K $7.95/SF
− OpEx
−$17.2K −$2.78/SF
NOI
$31.9K $5.17/SF
Area
Creek County, OK
Vacancy
5.30%
Lease Rate
$8.40 /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%
$638,260
Cap Rate 7%
$455,900
Cap Rate 9%
$354,589
Alternative Uses
Best Use
Office B
$1.26M
$1.10M – $1.47M
NOI $88,193 @ 7.0% cap · market cap 17.71%
Second Best
Flex RnD
$455.9K
$398.9K – $531.9K
NOI $31,913 @ 7.0% cap · market cap 6.41%
Theoretical Best
Office A
$1.52M
$1.33M – $1.77M
NOI $106,243 @ 7.0% cap · market cap 21.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
148
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 74066, OK
31,255
Population
13,736
Households
2.3
Avg Household Size
41
Median Age
19%
College-Educated
91%
High-School Grad
123.6 sq mi
ZIP Area
253
Density / Sq Mi
$64,351
Median Household Income
$41,245
Median Earnings
$1,000
Median Rent
$168,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Nearly five-acre industrial site with substantial asphalt parking and an interior layout suited for light industrial or group uses.
Where is this flex space located?
The property is located at 8500 Frankoma Road Sapulpa, OK.
What is the asking price?
The asking price for this property is $498,000.
What are key features of this property?
This property features: Nearly 5‑acre industrial site with roughly 6,172 SF interior space; Large asphalt‑marked parking area for yard and parking requirements; Interior layout includes auditorium, kitchen/banquet area, restrooms, and classrooms/offices
