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    Profitable Laundromat Business with Two Buildings Title is generated by Realmo AI

    110 E Main St., Ringling, OK 73438

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    For Sale
    $199,000

    Commercial Business - Ringling, OK

    Property size:
    5,000 SF
    Price / SF:
    $39/SF
    Added:
    May 1, 2025
    Days on Market:
    402
    Last Refresh:
    Jun 6 at 4:06 am

    Property Features for 110 E Main St.

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    200
    Bathrooms
    1
    Rooms
    Bathroom 1
    Parking features
    Garage
    Standard status
    Active
    Size
    5,000 SF

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    984

    Utilities

    Heating system
    Electric (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    1922
    Year renovated
    1922
    Building materials
    Brick
    Architectural style
    Other

    We can help!

    Listing Contact
    Michael Faulkner
    Michael Faulkner

    Listing agent Michael Faulkner

    Listing office Turner Land Company LLC PO Box 320 Ringling Oklahoma, Ringling, OK

    Listing date May 1, 2025

    MLS# 11491262 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Profitable, turnkey laundromat with established income stream.
    • Includes two buildings: a fully equipped laundromat and a second building currently generating rental income.
    • Prime Main Street location in Ringling, OK, offering high visibility and local traffic.
    • Equipped with top‑of‑the‑line commercial‑grade laundry equipment, including multiple washers and dryers.
    • Remote access and 24/7 security monitoring for hassle‑free ownership.
    • Second building offers flexible options: continue renting as storage or convert for other business purposes.

    Overview

    Located at 110 E Main St. in Ringling, OK, The Laundry Basket is a fully operational laundromat business for sale. The property includes two buildings situated in a high-visibility location on Main Street. The main building houses a 1,200 sq ft laundromat equipped with two 40-pound washers, one 30-pound washer, eight 22-pound washers, two top-load 20-pound washers, and twelve 30-pound natural gas dryers. Additional equipment includes a commercial-grade 119-gallon hot water heater, a bill changer, a dual vending machine, and four laundry carts. The laundromat also features remote open/close access and 24/7 security camera monitoring. The design allows for direct access to the back of the washers and dryers, facilitating efficient maintenance. The second building is currently leased out for additional monthly rental income, but could be converted into additional laundry space, retail, or office use. The property's location on Ringling's Main Street provides excellent visibility and proximity to other businesses and residences. The property size is 5,000 square feet and the lot size is 0 acres. The laundromat is intended for commercial business use.
    Property Profile Location Intelligence

    Current Use by Public Records

    More Boom Co Cosmetic Store

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Hair Salon Hotel & Motel Pharmacy Gym & Fitness Center Auto Repair Shop Nail Salon Storage Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    Ringling
    County
    Jefferson
    State
    Oklahoma
    Longitude
    -97.593137
    Latitude
    34.178495

    Nearby Similar for Sale

    • $50,000
      240 SF

      Commercial Property in Ringling, OK

      Commercial property with potential for business and residential use.
      602 S 9th Street, Ringling, OK 73456
      View Details
    • $199,000
      1,200 SF

      Turnkey Laundromat Business For Sale

      Profitable laundromat with two buildings and established income stream.
      110 E Main St, Ringling, OK, Ringling, OK 73463
      View Details

    FAQs

    What type of property is this?
    Retail space - Turnkey laundromat with established income stream in Ringling, Oklahoma.
    Where is this retail space located?
    The property is located at 110 E Main St. Ringling, OK.
    What is the asking price?
    The asking price for this property is $199,000.
    What are key features of this property?
    This property features: Profitable, turnkey laundromat with established income stream.; Includes two buildings: a fully equipped laundromat and a second building currently generating rental income.; Prime Main Street location in Ringling, OK, offering high visibility and local traffic.
    (580) 465-3571
    We can help!
    Listing Contact
    Michael Faulkner
    Michael Faulkner
    Real Estate License ID: 135917
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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.

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