Freestanding Flex Space with
For Sale
$259,000
211 N Main Street, Blanchard, OK 73010
COMMERCIAL - Blanchard, OK
Property Size3,650 SF
Lot Size0.16 Acres
Price / SF$71.49
Days on Market96
Property Features for 211 N Main Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Commercial
Directions
Hwy 62 & Main St. Go North to 211, building is on the West side of street.
Standard status
Active
APN
211NMain73010
Size
3,623 SF
Lot size
0.16 Acres
Building Details
Year built
1980
Listing Agency:
LB Realty Group-MB of Oklahoma
(405) 317-9542
Listed By:
Lindsey Bunch · License #145779
(405) 317-9542
Added: May 20
Changed: Aug 19
Last Checked: Aug 23 at 8:06AM
MLS# 1230498
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 flex property, built in 1980, offers a combination of retail-oriented and operational space. The layout includes a 50-by-25-foot showroom with central heat and air, a heated 50-by-25-foot shop with a bathroom, and a separate 50-by-25-foot warehouse that is not climate controlled. Additional improvements include a utility area of approximately 9 by 18 feet with a sink and drain, plus a 40-by-20-foot section equipped with a 10-by-10-foot overhead door.
Located at 211 N Main Street in Blanchard, the property includes alley access for loading and receiving. A camera and security system through Pioneer will remain in place. The site measures 0.1607 acres and is identified for commercial use.
Located at 211 N Main Street in Blanchard, the property includes alley access for loading and receiving. A camera and security system through Pioneer will remain in place. The site measures 0.1607 acres and is identified for commercial use.
Key Highlights
- Showroom measures 50x25 with central heat and air
- Heated 50x25 shop includes a bathroom
- Separate 50x25 warehouse is not climate controlled
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
$22,496
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
8.69%
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%
$449,920
$449.9K
Cap Rate 7%
$321,371
$321.4K
Cap Rate 9%
$249,956
$250.0K
Market Conditions
NOI Build-Up for 3,623 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
$34.8K $9.60/SF
− Vacancy
−$2.6K −$0.73/SF
EGI
$32.1K $8.87/SF
− OpEx
−$9.6K −$2.66/SF
NOI
$22.5K $6.21/SF
Area
McClain County, OK
Vacancy
7.60%
Lease Rate
$9.60 /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%
$449,920
Cap Rate 7%
$321,371
Cap Rate 9%
$249,956
Alternative Uses
Best Use
Flex RnD
$642.9K
$562.5K – $750.1K
NOI $45,003 @ 7.0% cap · market cap 17.38%
Second Best
Retail
$516.3K
$451.7K – $602.3K
NOI $36,139 @ 7.0% cap · market cap 13.95%
Theoretical Best
Specialty Retail
$875.7K
$766.3K – $1.02M
NOI $61,301 @ 7.0% cap · market cap 23.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
283
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 73010, OK
20,744
Population
7,770
Households
2.7
Avg Household Size
39
Median Age
26%
College-Educated
91%
High-School Grad
174.5 sq mi
ZIP Area
119
Density / Sq Mi
$86,968
Median Household Income
$47,315
Median Earnings
$1,070
Median Rent
$241,600
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Flex space - Adaptable commercial property combines customer-facing space with heated work areas, warehouse capacity, and alley loading access.
Where is this flex space located?
The property is located at 211 N Main Street Blanchard, OK.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: Showroom measures 50x25 with central heat and air; Heated 50x25 shop includes a bathroom; Separate 50x25 warehouse is not climate controlled
