Flex Space with Fenced
For Sale
Contact for pricing
901 North Virginia Avenue, Oklahoma City, OK 73106
Commercial property combines office and warehouse areas with a gated outdoor yard and C-4 zoning.
Property Size5,898 SF
Price / SF$66.95
Days on Market143
Property Features for 901 North Virginia Avenue
General Information
Standard status
Active
Size
5,898 SF
Property subtype
Industrial
Zoning
C-4
Warehouse & Industrial
Warehouse Space
3,708 SF
Office Build-Out
2,190 SF
Additional Details
Fenced Yard
Yes
Building Details
Buildings
1
Building Size
5,898 SF
Listing Agency:
Victory Real Estate
(405) 788-1708
Listed By:
Tom H. Vaught, SIOR · License #OK 155758
Source:
Crexi
Added: Apr 12
Changed: Aug 31
Last Checked: Aug 30 at 10:10PM
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 Victory Real Estate
Investment Insights
Based on property information with market context.
This flex space provides a practical combination of administrative and operational areas within a single commercial property. The building contains approximately 2,190 SF of office space and 3,708 SF of warehouse area, with one overhead door supporting loading and unloading activity.
A fenced, gated yard adds controlled outdoor space to the property. The site is located at 901 N Virginia Ave in Oklahoma City, near downtown and positioned for access to major routes. C-4 zoning supports a broad range of commercial uses.
A fenced, gated yard adds controlled outdoor space to the property. The site is located at 901 N Virginia Ave in Oklahoma City, near downtown and positioned for access to major routes. C-4 zoning supports a broad range of commercial uses.
Key Highlights
- ± 5,898 SF flex space near downtown Oklahoma City
- ± 2,190 SF of office space
- ± 3,708 SF warehouse area
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
$35,869
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
9.08%
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%
$717,380
$717.4K
Cap Rate 7%
$512,414
$512.4K
Cap Rate 9%
$398,544
$398.5K
Market Conditions
NOI Build-Up for 5,900 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
$53.1K $9.00/SF
− Vacancy
−$1.9K −$0.32/SF
EGI
$51.2K $8.69/SF
− OpEx
−$15.4K −$2.61/SF
NOI
$35.9K $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%
$717,380
Cap Rate 7%
$512,414
Cap Rate 9%
$398,544
Alternative Uses
Best Use
Office B
$1.20M
$1.05M – $1.40M
NOI $83,940 @ 7.0% cap · market cap 21.25%
Second Best
Flex RnD
$1.14M
$994.0K – $1.33M
NOI $79,523 @ 7.0% cap · market cap 20.13%
Theoretical Best
Specialty Retail
$2.02M
$1.77M – $2.35M
NOI $141,246 @ 7.0% cap · market cap 35.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
614
Businesses Nearby
Under-served
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 Office in Oklahoma City, OK
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 - Commercial property combines office and warehouse areas with a gated outdoor yard and C-4 zoning.
Where is this flex space located?
The property is located at 901 North Virginia Avenue Oklahoma City, OK.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: ± 5,898 SF flex space near downtown Oklahoma City; ± 2,190 SF of office space; ± 3,708 SF warehouse area
