Freestanding Restaurant with
For Sale
$1,500,000
1201 S Meridian Avenue, Oklahoma City, OK 73108
Commercial Sale, Oklahoma City, OK
Property Size7,989 SF
Lot Size1.26 Acres
Price / SF$187.76
Days on Market25
Property Features for 1201 S Meridian Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Industrial
Directions
From I-40 Take Exit 145 for Meridian Ave. Head south on Meridian Ave for approximately 1/2 mile. The property will be on your right (west side of Meridian).
Standard status
Active
APN
1201SMeridian73108
Size
7,989 SF
Lot size
1.26 Acres
Building Details
Year built
1977
Floors in Building
1
Listing Agency:
Copper Creek Real Estate
(405) 888-9902
Listed By:
Rosa Spotts · License #150673
(405) 808-4913
Added: Aug 11
Changed: Aug 20
Last Checked: Sep 4 at 1:06AM
MLS# 1243909
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 freestanding conventional restaurant property contains 7,989 square feet on approximately 1.2555 acres. The existing layout includes dining areas, a bar, buffet and serving stations, commercial kitchen infrastructure, equipment, and furnishings. An expansive parking area, pole signage, and frontage along S Meridian Avenue support the property’s operating configuration.
The site offers access to I-40 and I-44 and is located near Will Rogers International Airport. Industrial zoning is in place. The building and site may also accommodate other approved commercial uses, subject to zoning and City approval.
The site offers access to I-40 and I-44 and is located near Will Rogers International Airport. Industrial zoning is in place. The building and site may also accommodate other approved commercial uses, subject to zoning and City approval.
Key Highlights
- 7,989‑square‑foot freestanding restaurant building
- Approximately 1.2555 acres along S Meridian Avenue
- Dining areas, bar, buffet, and serving stations in place
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
$48,569
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
3.24%
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%
$971,380
$971.4K
Cap Rate 7%
$693,843
$693.8K
Cap Rate 9%
$539,656
$539.7K
Market Conditions
NOI Build-Up for 7,989 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
$71.9K $9.00/SF
− Vacancy
−$2.5K −$0.32/SF
EGI
$69.4K $8.69/SF
− OpEx
−$20.8K −$2.61/SF
NOI
$48.6K $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%
$971,380
Cap Rate 7%
$693,843
Cap Rate 9%
$539,656
Alternative Uses
Best Use
Specialty Retail
$2.73M
$2.39M – $3.19M
NOI $191,257 @ 7.0% cap · market cap 12.75%
Second Best
Industrial
$693.8K
$607.1K – $809.5K
NOI $48,569 @ 7.0% cap · market cap 3.24%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
749
Businesses Nearby
159k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 57%
Hotels & Casinos 26%
Apparel 14%
Home Improvements & Furnishings 4%
Cracker Barrel Old Country Store
Dining
26,259 visits/mo
0.4 miles
Boot Barn
Apparel
22,124 visits/mo
0.2 miles
Whataburger
Dining
19,587 visits/mo
0.1 miles
IHOP
Dining
12,200 visits/mo
0.4 miles
Chili's Grill & Bar
Dining
10,542 visits/mo
0.4 miles
Demographics for 73108, OK
14,451
Population
6,221
Households
2.3
Avg Household Size
30
Median Age
4%
College-Educated
56%
High-School Grad
7.6 sq mi
ZIP Area
1,901
Density / Sq Mi
$35,278
Median Household Income
$31,017
Median Earnings
$799
Median Rent
$75,000
Median Home Value
Market
Vacancy Rate% for Retail in Oklahoma City, OK
Questions? Ask Rey
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Similar Off Market Nearby
- Pickle's Steakhouse — 1201 S Meridian Ave, Oklahoma City, OK 73108
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Existing dining, service, and commercial kitchen improvements support continued restaurant use or an approved alternative concept.
Where is this conventional restaurant located?
The property is located at 1201 S Meridian Avenue Oklahoma City, OK.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 7,989‑square‑foot freestanding restaurant building; Approximately 1.2555 acres along S Meridian Avenue; Dining areas, bar, buffet, and serving stations in place
