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    624 Eseco Rd Cushing, OK 74023

    Sponsored
    For Sale
    $850,000

    42,693 SF Industrial Building, 6.77 Acres

    Property size:
    42,693 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    415
    This exceptional 42,693 square foot industrial facility, situated on 6.77 acres in Cushing, Oklahoma, presents a unique redevelopment opportunity. Formerly the headquarters of ESECO Speedmaster, this property boasts a substantial 7,500 square foot office suite featuring executive offices, a conference room, ADA-compliant bathrooms, and a reception area. The warehouse space, totaling approximately 35,193 square feet, includes 14-22 foot ceilings and is equipped with 3-phase, 400Amp power, one dock-high door, and two grade-level doors. Built in 1974 with significant renovations in 2016, the building features durable red steel framing, thick concrete slabs, and BUR/PVC/TPO roofing. Zoned I-2 (Light Industrial), this property is ideally suited for various uses including oil and gas, manufacturing, or storage. Its strategic location, midway between Tulsa and Oklahoma City, offers easy access to major transportation routes and is adjacent to Cushing Municipal Airport. The property's robust infrastructure, coupled with Cushing's established position as a key player in the energy sector and the potential for significant future development, makes this a compelling investment prospect. The asking price is $850,000, and a 3-year lease term is available. The property consists of four buildings and five loading docks. The APN is 17N05E103CZ9990000510.

    Property Features for 624 Eseco Rd

    General Information

    Property type
    Distribution properties
    Square Feet
    42,693 SF

    Building Details

    Year Built
    1974
    Buildings
    4
    Units
    4

    We can help!

    Listing Contact
    Yen Phi
    Yen Phi

    Learn more

    Property Insight Report

    HighLights

    • 42,693 SF industrial facility on 6.77 acres with executive offices, climate‑controlled warehouse space, ADA bathrooms, and 3‑phase, 400Amp power.
    • 1974 construction with 2016 renovations, featuring durable red steel framing and concrete slabs.
    • 1 dock‑high and 2 grade‑level doors; I‑2 zoning allows oil, gas, manufacturing, and storage uses.
    • Midway between Tulsa and Oklahoma City, providing access to key industrial hubs and Cushing Municipal Airport.
    • Excellent highway, rail, and pipeline access, solidifying its position as a transportation and distribution center.
    • Located in Cushing, a major oil and gas hub and key WTI crude oil pricing point.
    Property Profile Location Intelligence

    Current Use by Public Records

    Manufacturing properties

    Suggested Use

    Realty agency Building Supply Kitchen & Bath Plumbing Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Cushing
    County
    Payne
    State
    Oklahoma
    Longitude
    -96.7639067
    Latitude
    35.9574939

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    FAQs

    What type of property is this?
    Distribution property - 42,693 SF Industrial Building, 6.77 Acres
    Where is this distribution property located?
    The property is located at 624 Eseco Rd Cushing, OK.
    What is the asking price?
    The asking price for this property is $850,000.
    What are key features of this property?
    This property features: 42,693 SF industrial facility on 6.77 acres with executive offices, climate-controlled warehouse space, ADA bathrooms, and 3-phase, 400Amp power.; 1974 construction with 2016 renovations, featuring durable red steel framing and concrete slabs.; 1 dock-high and 2 grade-level doors; I-2 zoning allows oil, gas, manufacturing, and storage uses.
    Request Owner's contact information
    624 Eseco Rd Cushing, OK 74023
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    Cushing, OK 74023
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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
    624 Eseco Rd Cushing, OK 74023
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    We can help!
    Listing Contact
    Yen Phi
    Yen Phi
    Real Estate License ID: OK 177396
    Learn more
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