Building Details

Year Built 2019

Listing Agency: Blackstone Commercial

Listed By: David Bohanon · License #138167 Show Phone

Source: Crexi

Added: Jul 11, 2024 Changed: Sep 14 Last Checked: Oct 12 at 5:44PM

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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 Blackstone Commercial

Investment Insights

Based on property information with market context.

This commercial property offers a versatile space of 1,820 square feet, including a 1,400-square-foot ground floor and a 420-square-foot mezzanine. The ground floor, measuring 28 feet by 50 feet, can accommodate 4 to 6 standard-sized automobiles. Access is facilitated by a 12-foot by 12-foot automatic overhead door and a standard entry door. The space benefits from two upper east-facing windows and a sealed concrete floor. Upgraded options include HVAC, a mezzanine restroom, a mezzanine shower, and a kitchen equipped with stainless steel appliances and a quartz kitchen island. An alarm package, complete with an alarm and locking mailbox, is also included. Automated rafter-mounted winches are installed. Optional owner upgrades are available, such as furniture (couches, chairs, coffee table, dining table/chairs), three large LED TVs, and Sonos speakers with a subwoofer. The property is located at 807 NW 72nd St, Oklahoma City, OK 73116.

Key Highlights

• 1,400 SF ground floor space accommodating 4‑6 vehicles.
• Mezzanine with restroom and shower (420 SF).
• HVAC system installed.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$35,927

Cap Rate

7.26%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$718,540 $718.5K

Cap Rate 7%

$513,243 $513.2K

Cap Rate 9%

$399,189 $399.2K

Market Conditions

NOI Build-Up for 1,820 SF

Gross rent

$54.6K $30.00/SF

− Vacancy

−$3.3K −$1.80/SF

EGI

$51.3K $28.20/SF

− OpEx

−$15.4K −$8.46/SF

NOI

$35.9K $19.74/SF

Area

Oklahoma City, OK

Vacancy

6.00%

Lease Rate

$30.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$718,540

Cap Rate 7%

$513,243

Cap Rate 9%

$399,189

Alternative Uses

Best Use

Retail

$513.2K

$449.1K – $598.8K (±1% cap)

NOI $35,927 @ 7.0% cap · market cap 7.26%

Second Best

Flex RnD

$350.4K

$306.6K – $408.9K (±1% cap)

NOI $24,531 @ 7.0% cap · market cap 4.96%

Theoretical Best

Specialty Retail

$622.4K

$544.6K – $726.2K (±1% cap)

NOI $43,571 @ 7.0% cap · market cap 8.80%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Kyle L. Griffith, ... Alternative Medicine Practice

Suggested Use

Top Pick Auto Parts Store Hotel & Motel Grocery & Convenience Store (Bike/Boat/Book/etc) Store Travel Agency Catering Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,667

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 73116, OK

9,531

Population

4,966

Households

1.9

Avg Household Size

43

Median Age

54%

College-Educated

95%

High-School Grad

5.5 sq mi

ZIP Area

1,733

Density / Sq Mi

$81,563

Median Household Income

$53,528

Median Earnings

$1,136

Median Rent

$285,200

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this parking lots & garages located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Parking lot & garage - 1,820 SF commercial space with HVAC, restroom, and kitchen.

Where is this parking lot & garage located?

The property is located at 807 NW 72nd St Oklahoma City, OK.

What is the asking price?

The asking price for this property is $495,000.

What are key features of this property?

This property features: 1,400 SF ground floor space accommodating 4‑6 vehicles.; Mezzanine with restroom and shower (420 SF).; HVAC system installed.