Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    308 Rhode Island Ave Oklahoma City, OK 73117

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $0.53 SF/Yr

    1.82-acre fenced lot, I-44 access

    Lot size:
    79,279 SF

    Property Features for 308 Rhode Island Ave

    General Information

    Property type
    Land
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    79,279 SF

    Spaces For Lease

    at 308 Rhode Island Ave, Oklahoma City, OK 73117 Contact us
    Unit

    $0.53 /Mo

    Size
    79,279 SF
    Contact us

    We can help!

    Listing Contact
    Greg Banta
    Greg Banta

    Listing Agency: Banta Property Group Listing Agent: Greg Banta

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional 1.82-acre industrial lot, located at 308 Rhode Island Ave, Oklahoma City, OK 73117, presents a unique opportunity for businesses seeking a strategic location with excellent accessibility. Zoned I-2, this single-tenancy property boasts a fenced perimeter, level terrain, and ample space ideal for various industrial uses, including storage or outdoor workspaces. Its prime location just north of the Oklahoma River offers easy access to major thoroughfares such as I-44, I-35, and I-235, simplifying transportation and logistics. The property is conveniently situated off Kellham Drive, just south of NE 4th Street, providing easy access to NE 4th Street, Martin Luther King Avenue, and I-40. This versatile lot in Oklahoma County's South submarket offers a combination of prime location, convenient access, and ample space, making it an attractive option for a variety of industrial needs. The lot size is 1.82 acres, and the cross street is NE 4th St. This is a truly exceptional opportunity to establish your business in a highly accessible and well-connected location.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mills Enterprises Inc Big Box & Wholesale Store Cool Box Portable ... Storage Facility

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Cleveland
    State
    Oklahoma
    Longitude
    -97.480694430375
    Latitude
    35.469649664593

    Nearby Similar for Lease

    • Sponsored
      New
      Contact for pricing

      OK, Oklahoma City - N May Ave

      Discover many ways to work your way in San Marco
      5600 May Ave, Oklahoma City, OK 73112
      View Details
    • $1,900 /Mo
      1,765 SF

      Oklahoma City Office Space Available

      Office suites available for lease in Oklahoma City.
      6418 N Santa Fe Ave, Oklahoma City, OK 73116
      View Details
    • $10,150 /Mo
      8,713 SF

      Oklahoma City Office Space Available

      Office space featuring a kitchen, meeting room, and training area.
      1624 SW 122Nd St, Oklahoma City, OK 73170
      View Details
    • $1,000 /Mo
      10,000 SF

      Oklahoma City Automotive Shops For Lease

      Automotive shops for lease, ideal for car-related businesses.
      5959 NW 39Th Expy, Oklahoma City, OK 73122
      View Details
    • $4,700 /Mo
      3,170 SF

      Oklahoma City Office Space For Rent

      Office space in a sought-after location in southwest Oklahoma City.
      1630 SW 122Nd St, Oklahoma City, OK 73170
      View Details
    • New
      $1,150 /Mo
      182 SF

      Office Space in Casady Square

      Office spaces with shared amenities in a high-traffic shopping center.
      9251 N Pennsylvania Pl, Oklahoma City, OK 73120
      View Details
    • $2,820 /Mo
      1,410 SF

      Commercial Building in Paseo District

      Commercial building permitted for restaurant use with parking and kitchen.
      436 NW 30Th St, Oklahoma City, OK 73118
      View Details
    • Contact for pricing
      16,050 SF

      Stand Alone Facility with Billboard

      Renovated office and warehouse with fenced lot and billboard.
      3750 Service Rd, Oklahoma City, OK 73160
      View Details
    • Contact for pricing

      New Duplex with Modern Amenities

      Brand new 3-bedroom, 2-bath duplex with modern features and appliances.
      1216 NW 113Th St, Oklahoma City, OK 73114
      View Details
    • Contact for pricing
      9,928 SF

      Oklahoma City Industrial Complex

      Three-building office-warehouse complex with versatile space for various industrial uses.
      2317 S Eastern Ave, Oklahoma City, OK 73160
      View Details
    • Contact for pricing
      5,000 SF

      Oklahoma City Industrial Gem

      5,000 SF Warehouse, 2 Acres
      3500 East Wilshire Boulevard Oklahoma City, OK 73121, Oklahoma City, OK 73121
      View Details
    • Contact for pricing
      1,200 SF

      Historic Building Office/Retail Space

      Prime downtown location with flexible office and retail spaces.
      701 W Sheridan Ave, Oklahoma City, OK 73102
      View Details

    FAQs

    What type of property is this?
    Land - 1.82-acre fenced lot, I-44 access
    Where is this land located?
    The property is located at 308 Rhode Island Ave Oklahoma City, OK.
    What is the lease rate?
    The lease rate is $0.53 SF/Yr.
    What are key features of this property?
    This property features: 1.82-acre industrial lot in Oklahoma City, OK.; I-2 zoning, ideal for various industrial uses.; Excellent access to I-40, I-35, I-235, and major thoroughfares.
    (405) 840-1600
    Request Owner's contact information
    308 Rhode Island Ave Oklahoma City, OK 73117
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    308 Rhode Island Ave
    Oklahoma City, OK 73117
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    308 Rhode Island Ave Oklahoma City, OK 73117
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Greg Banta
    Greg Banta
    Real Estate License ID: 109170
    (405) 840-1600 (405) 823-3026
    Learn more
    Google sign-in failed. Please try again or use another login method.