Versatile Commercial Property for
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2116-2118 NW 39th, Oklahoma City, OK 73112
Adaptable commercial space suitable for retail, user, or distribution.
Property Size5,192 SF
Price / SF$79.93
Days on Market1827
Property Features for 2116-2118 NW 39th
General Information
Standard status
Active
Size
5,192 SF
Property subtype
Retail, Industrial
Building Details
Tenancy
Single
Listing Agency:
Herndon & Kelley Commercial Real Estate Tulsa
Listed By:
Todd Herndon, CCIM · License #OK 076548
Source:
Crexi
Added: Sep 13, 2021
Changed: Sep 11
Last Checked: Sep 12 at 6:35AM
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 Herndon & Kelley Commercial Real Estate Tulsa
Investment Insights
Based on property information with market context.
This commercial property, with a size of 5192 square feet, is available for sale. It is suitable for user, retail, or distribution purposes. The property includes 2 overhead doors.
Key Highlights
- Suitable for user, retail, or distribution purposes.
- Includes 2 overhead doors.
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
$31,565
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
7.61%
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%
$631,300
$631.3K
Cap Rate 7%
$450,929
$450.9K
Cap Rate 9%
$350,722
$350.7K
Market Conditions
NOI Build-Up for 5,192 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
$46.7K $9.00/SF
− Vacancy
−$1.6K −$0.32/SF
EGI
$45.1K $8.69/SF
− OpEx
−$13.5K −$2.61/SF
NOI
$31.6K $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%
$631,300
Cap Rate 7%
$450,929
Cap Rate 9%
$350,722
Alternative Uses
Best Use
Retail
$1.46M
$1.28M – $1.71M
NOI $102,490 @ 7.0% cap · market cap 24.70%
Second Best
Industrial
$450.9K
$394.6K – $526.1K
NOI $31,565 @ 7.0% cap · market cap 7.61%
Theoretical Best
Specialty Retail
$1.78M
$1.55M – $2.07M
NOI $124,296 @ 7.0% cap · market cap 29.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,481
Businesses Nearby
Explore this area
Business Placement
Demographics for 73112, OK
31,113
Population
16,413
Households
1.9
Avg Household Size
37
Median Age
35%
College-Educated
91%
High-School Grad
7.6 sq mi
ZIP Area
4,094
Density / Sq Mi
$57,833
Median Household Income
$39,641
Median Earnings
$1,030
Median Rent
$173,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail property - Adaptable commercial space suitable for retail, user, or distribution.
Where is this retail property located?
The property is located at 2116-2118 NW 39th Oklahoma City, OK.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Suitable for user, retail, or distribution purposes.; Includes 2 overhead doors.
