Historic Mixed-Use
For Sale
$1,190,000
107 W Harrison Avenue, Guthrie, OK 73044
Commercial Sale, Guthrie, OK
Property Size11,300 SF
Lot Size2.00 Acres
Price / SF$105.31
Days on Market183
Property Features for 107 W Harrison Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Directions
Corner of Division and Harrison
Standard status
Active
APN
107WHarrison73044
Size
11,300 SF
Lot size
2.00 Acres
Building Details
Year built
1891
Listing Agency:
Collection 7 Realty
(405) 562-8777
Listed By:
Whitney Heskett
(405) 990-3492
Added: Mar 2
Changed: Aug 20
Last Checked: Sep 1 at 7:06PM
MLS# 1216890
Copyright © 2026 MLSOK, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 107 W Harrison Avenue in downtown Guthrie, this 11,300-square-foot mixed-use building dates to 1891 and carries a documented connection to the Guthrie Daily Leader, an early Oklahoma newspaper. The property retains historic architectural character, including high ceilings, large windows, and period details.
The ground level contains two established commercial businesses, while the upper floor includes four furnished apartments. The residential spaces are positioned for short-term rental, executive housing, or long-term occupancy as described. The property sits on 2 acres and is within Guthrie’s downtown district, known for preserved Victorian architecture. Commercial zoning applies.
The ground level contains two established commercial businesses, while the upper floor includes four furnished apartments. The residential spaces are positioned for short-term rental, executive housing, or long-term occupancy as described. The property sits on 2 acres and is within Guthrie’s downtown district, known for preserved Victorian architecture. Commercial zoning applies.
Key Highlights
- 11,300‑square‑foot mixed‑use building constructed in 1891
- Two established commercial businesses occupy the ground floor
- Four fully furnished apartments are located on the upper floor
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
$97,730
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
8.21%
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%
$1,954,600
$2.0M
Cap Rate 7%
$1,396,143
$1.4M
Cap Rate 9%
$1,085,889
$1.1M
Market Conditions
NOI Build-Up for 11,300 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
$189.8K $16.80/SF
− Vacancy
−$12.1K −$1.08/SF
EGI
$177.7K $15.72/SF
− OpEx
−$80.0K −$7.08/SF
NOI
$97.7K $8.65/SF
Area
Logan County, OK
Vacancy
6.40%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
45.00%
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%
$1,954,600
Cap Rate 7%
$1,396,143
Cap Rate 9%
$1,085,889
Alternative Uses
Best Use
Mixed Use
$1.96M
$1.72M – $2.29M
NOI $137,295 @ 7.0% cap · market cap 11.54%
Second Best
Retail
$1.61M
$1.41M – $1.88M
NOI $112,718 @ 7.0% cap · market cap 9.47%
Theoretical Best
Specialty Retail
$2.73M
$2.39M – $3.19M
NOI $191,196 @ 7.0% cap · market cap 16.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
619
Businesses Nearby
Explore this area
Business Placement
Demographics for 73044, OK
24,603
Population
10,050
Households
2.4
Avg Household Size
39
Median Age
24%
College-Educated
91%
High-School Grad
264.7 sq mi
ZIP Area
93
Density / Sq Mi
$71,442
Median Household Income
$39,284
Median Earnings
$890
Median Rent
$200,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor commercial businesses are paired with four furnished apartments above.
Where is this mixed-use property located?
The property is located at 107 W Harrison Avenue Guthrie, OK.
What is the asking price?
The asking price for this property is $1,190,000.
What are key features of this property?
This property features: 11,300‑square‑foot mixed‑use building constructed in 1891; Two established commercial businesses occupy the ground floor; Four fully furnished apartments are located on the upper floor
