Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Prime Industrial/Commercial Aviation Land Title is generated by Realmo AI

    SW 59th St & S Portland Ave, Oklahoma City, OK 73159

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    489 acres of shovel-ready land near Will Rogers Airport.

    Type:Land
    Property size:
    489 SF
    Added:
    Nov 22, 2025
    Days on Market:
    189
    Last Refresh:
    May 19 at 11:16 pm

    Property Features for SW 59th St & S Portland Ave

    General Information

    Standard status
    Active
    Size
    489 SF
    Property subtype
    Land

    We can help!

    Listing Contact
    Randy Lacey
    Randy Lacey

    Listing agent Randy Lacey

    Listing office CBRE | Oklahoma City

    Listing date Nov 22, 2025

    Source Cbre

    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 CBRE | Oklahoma City

    HighLights

    • Approximately 489 acres of prime industrial/commercial and aviation land.
    • Shovel‑ready site, facilitating immediate development.
    • Direct proximity to Will Rogers World Airport.
    • Strategic location along I‑44.
    • Intersections with I‑240, US‑62, SH‑3, and SH‑152.
    • Available for long‑term ground lease.

    Overview

    Approximately 489 acres of industrial, commercial, and aviation land are available for long-term ground lease. The site, known as Lariat Landing, is located directly east of Will Rogers World Airport and is considered shovel-ready. The property is strategically situated along I-44 and its intersections with I-240, US-62, SH-3, and SH -152.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Oklahoma City
    County
    Cleveland
    State
    Oklahoma
    Longitude
    -97.5833
    Latitude
    35.4664

    Nearby Similar for Lease

    • $5,000/Mo
      2,800 SF

      Oklahoma City Office Space For Lease

      Flexible office space in a convenient Oklahoma City location.
      207 E Memorial Road, Oklahoma City, OK 73131
      View Details
    • $3,900/Mo
      2,700 SF

      Modern Office Space Available

      Bright, well-maintained office space in Oklahoma City for rent.
      210 NW 10th Street, Oklahoma City, OK 73103
      View Details
    • $1,495/Mo
      1,450 SF

      Updated Commercial Space For Lease

      Recently updated 1,450 SF commercial space for lease.
      4409 N Meridian Avenue, Oklahoma City, OK 73112
      View Details
    • $1,500/Mo
      978 SF

      Oklahoma City Office Space Available

      Office space for lease with utilities included in Oklahoma City.
      1521 SW 89th Street, Oklahoma City, OK 73159
      View Details
    • $3,700/Mo
      2,250 SF

      Spacious Commercial Space in Oklahoma

      Open-concept commercial space with flexible layout in South Oklahoma City.
      4301 S Pennsylvania Avenue, Oklahoma City, OK 73119
      View Details
    • $2,375/Mo
      1,127 SF

      Office Space in Automobile Alley

      Ground floor office space near restaurants and boutique shops.
      20 NW 13th Street, Oklahoma City, OK 73103
      View Details
    • $4,631/Mo
      4,631 SF

      Oklahoma City Commercial Space Available

      Versatile commercial property in high-visibility Oklahoma City location.
      8301 Glade Avenue, Oklahoma City, OK 73132
      View Details
    • $3,406/Mo
      8,604 SF

      Oklahoma City Commercial Space Available

      Commercial space available for lease in Oklahoma City, OK.
      2019 Exchange Avenue, Oklahoma City, OK 73108
      View Details
    • $3,997/Mo
      10,098 SF

      Oklahoma City Commercial Space Available

      Commercial space for lease in Oklahoma City, OK.
      1704 NW 6th Street, Oklahoma City, OK 73106
      View Details
    • $1,150/Mo
      182 SF

      Office Space in Casady Square

      Office spaces with shared amenities in a high-traffic location.
      9251 N Pennsylvania Place, Oklahoma City, OK 73120
      View Details
    • $2,948/Mo
      7,140 SF

      Oklahoma City Commercial Space Available

      Commercial space for rent in Oklahoma City, Oklahoma.
      2412 SW 14th Street, Oklahoma City, OK 73108
      View Details
    • $2,837/Mo
      6,189 SF

      Oklahoma City Commercial Space

      Commercial space available for lease in Oklahoma City.
      2005 Exchange Avenue, Oklahoma City, OK 73108
      View Details

    FAQs

    What type of property is this?
    Land - 489 acres of shovel-ready land near Will Rogers Airport.
    Where is this land located?
    The property is located at SW 59th St & S Portland Ave Oklahoma City, OK.
    What are key features of this property?
    This property features: Approximately 489 acres of prime industrial/commercial and aviation land.; Shovel‑ready site, facilitating immediate development.; Direct proximity to Will Rogers World Airport.
    (405) 607-6062
    We can help!
    Listing Contact
    Randy Lacey
    Randy Lacey
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    SW 59th St & S Portland Ave, Oklahoma City, OK, 73159
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!