Brick Mixed-Use
For Sale
$2,500,000
120 E Main Street, Oklahoma City, OK 73104
Commercial Sale, Oklahoma City, OK
Property Size14,485 SF
Lot Size0.40 Acres
Price / SF$172.59
Days on Market368
Property Features for 120 E Main Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
Commercial
Directions
From Sheridan and Oklahoma go North and East on Main St to property.
Standard status
Active
APN
120EMain73104
Size
14,485 SF
Lot size
0.40 Acres
Building Details
Year built
1918
Floors in Building
2
Building materials
Brick
Listing Agency:
RE/MAX at Home · RE/MAX International
(405) 708-6691
Listed By:
Mary L Walker · License #143671
(405) 209-0124
Added: Sep 12, 2025
Changed: Sep 12
Last Checked: Sep 14 at 4:06AM
MLS# 1135454
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.
This two-story mixed-use property contains 14,485 square feet on approximately 0.4 acres. The brick building includes original architectural details and was built in 1918. Temporary structures are also present; their removal would create approximately 30 parking spaces. The property is positioned on a portion of 5 lots, leaving room for expansion or redevelopment planning.
Located in Oklahoma City's Bricktown District, the property sits within the Bricktown Core Zoning District and is near the Bricktown Canal, restaurants, hotels, entertainment venues, and the Chickasaw Baseball Stadium. The downtown business district is within walking distance, while the surrounding area also includes office activity, year-round events, and MAPS 4-funded developments. The property is identified as being in an Opportunity Zone.
Located in Oklahoma City's Bricktown District, the property sits within the Bricktown Core Zoning District and is near the Bricktown Canal, restaurants, hotels, entertainment venues, and the Chickasaw Baseball Stadium. The downtown business district is within walking distance, while the surrounding area also includes office activity, year-round events, and MAPS 4-funded developments. The property is identified as being in an Opportunity Zone.
Key Highlights
- 14,485‑square‑foot two‑story mixed‑use building
- Approximately 0.4 acres positioned on a portion of 5 lots
- Brick construction with original architectural details
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
$206,081
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
8.24%
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%
$4,121,620
$4.1M
Cap Rate 7%
$2,944,014
$2.9M
Cap Rate 9%
$2,289,789
$2.3M
Market Conditions
NOI Build-Up for 14,485 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
$361.5K $24.96/SF
− Vacancy
−$86.8K −$5.99/SF
EGI
$274.8K $18.97/SF
− OpEx
−$68.7K −$4.74/SF
NOI
$206.1K $14.23/SF
Area
Oklahoma City, OK
Vacancy
24.00%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
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%
$4,121,620
Cap Rate 7%
$2,944,014
Cap Rate 9%
$2,289,789
Alternative Uses
Best Use
Office B
$2.94M
$2.58M – $3.43M
NOI $206,081 @ 7.0% cap · market cap 8.24%
Second Best
Mixed Use
$2.86M
$2.50M – $3.33M
NOI $199,893 @ 7.0% cap · market cap 8.00%
Theoretical Best
Specialty Retail
$4.95M
$4.33M – $5.78M
NOI $346,771 @ 7.0% cap · market cap 13.87%
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
3,590
Businesses Nearby
Explore this area
Business Placement
Demographics for 73104, OK
3,545
Population
2,405
Households
1.5
Avg Household Size
29
Median Age
75%
College-Educated
97%
High-School Grad
1.6 sq mi
ZIP Area
2,216
Density / Sq Mi
$69,886
Median Household Income
$59,023
Median Earnings
$1,536
Median Rent
$341,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Oklahoma City, OK
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story commercial property with original architectural details and Commercial zoning.
Where is this mixed-use property located?
The property is located at 120 E Main Street Oklahoma City, OK.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 14,485‑square‑foot two‑story mixed‑use building; Approximately 0.4 acres positioned on a portion of 5 lots; Brick construction with original architectural details
