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    The Largest CRE Database in the US with Over 1 Million Listings

    901 29Th St Oklahoma City, OK 73129

    Sponsored
    For Sale
    Contact for pricing

    1.5-Acre Build-to-Suit Opportunity

    Property size:
    16,944 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    419
    This exceptional 1.5-acre industrial property, located at the highly visible corner of SE 29th Street and High Street in Oklahoma City, OK 73129, is available for immediate build-to-suit development. The property boasts a prime location with convenient access to I-35 and other major transportation arteries, making it ideal for a variety of industrial uses. The site is zoned for industrial use (1-2) and offers unparalleled visibility due to its hard corner location at a signalized intersection. The existing structures on the site, totaling 16,944 square feet across two single-story buildings, were built in 1958 and renovated in 2017. These buildings feature 16-foot ceilings and offer a flexible layout. The owner is offering build-to-suit options, including leasing back the completed space. This presents a unique opportunity for businesses seeking a custom-designed facility or a strategic location for expansion. Note that an additional 17 acres of land surrounding this property are also available for purchase. The property's APN is R094970360. This is a truly exceptional opportunity to secure a well-positioned site in a growing area of Oklahoma City. Don't miss this chance to capitalize on this prime location and build your ideal industrial space.

    Property Features for 901 29Th St

    General Information

    Property type
    Flex space
    Square Feet
    16,944 SF

    Building Details

    Year Built/Renovated
    1958/2017
    Buildings
    2
    Stories
    1

    We can help!

    Listing Contact
    Sean O'Grady
    Sean O'Grady

    Learn more

    Property Insight Report

    HighLights

    • 1.5‑acre lot with an additional 17 acres available.
    • Build‑to‑suit opportunities available.
    • Industrially zoned.
    • High‑visibility hard corner lot at SE 29th St. & High St.
    • Excellent access to I‑35 and major roadways.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.494623387987
    Latitude
    35.435303918901

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    FAQs

    What type of property is this?
    Flex space - 1.5-Acre Build-to-Suit Opportunity
    Where is this flex space located?
    The property is located at 901 29Th St Oklahoma City, OK.
    What are key features of this property?
    This property features: 1.5-acre lot with an additional 17 acres available.; Build-to-suit opportunities available.; Industrially zoned.
    (405) 463-1994
    Request Owner's contact information
    901 29Th St Oklahoma City, OK 73129
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    Oklahoma City, OK 73129
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    901 29Th St Oklahoma City, OK 73129
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    We can help!
    Listing Contact
    Sean O'Grady
    Sean O'Grady
    Real Estate License ID: OK74762
    (405) 463-1994
    Learn more
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