Remodeled Highway
For Sale
$2,120,000
2715 W Garriott Rd, Enid, OK 73703
COMMERCIAL/INDUSTRIAL, Enid, OK
Property Size17,262 SF
Lot Size1.24 Acres
Price / SF$122.81
Days on Market92
Property Features for 2715 W Garriott Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot
Subdivision
3B
Standard status
Active
Lot size
1.24 Acres
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air, Gas (Cooling)
Building Details
Year built
1982
Floors in Building
2
Flooring type
Carpet, Wood, Concrete
Listing Agency:
Epique Realty LLC
(918) 946-7009
Listed By:
McKenzie Schuermann
(580) 747-2824
Added: Jun 12
Changed: Sep 7
Last Checked: Sep 11 at 12:06AM
MLS# 20260774
Copyright © 2026 Northwest Oklahoma Association of REALTORS®. 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 operating motel occupies approximately 17,262 square feet (MOL) on approximately 1.24 acres (MOL) at 2715 W Garriott Rd in Enid. Built in 1982 and remodeled in 2026, the property includes 40 bedrooms and 40 bathrooms, with one portion configured as an owner’s residence. The private quarters include four bedrooms, three bathrooms, a living room, kitchen and dining area, plus an upper-level entertainment or office space.
The property is positioned directly along Highway 412 and includes a parking lot. Utility service consists of electric, natural gas, city water, and city sewer. Building systems include central electric heating and central gas cooling, with carpet, wood, and concrete flooring throughout the property.
The property is positioned directly along Highway 412 and includes a parking lot. Utility service consists of electric, natural gas, city water, and city sewer. Building systems include central electric heating and central gas cooling, with carpet, wood, and concrete flooring throughout the property.
Key Highlights
- Approximately 17,262 square feet (MOL) on approximately 1.24 acres (MOL)
- 40 bedrooms and 40 bathrooms, including owner’s living quarters
- Remodeled in 2026; originally built in 1982
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
$106,317
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
5.01%
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%
$2,126,340
$2.1M
Cap Rate 7%
$1,518,814
$1.5M
Cap Rate 9%
$1,181,300
$1.2M
Market Conditions
NOI Build-Up for 17,262 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
$250.6K $14.52/SF
− Vacancy
−$26.8K −$1.55/SF
EGI
$223.8K $12.97/SF
− OpEx
−$117.5K −$6.81/SF
NOI
$106.3K $6.16/SF
Area
Garfield County, OK
Vacancy
10.70%
Lease Rate
$14.52 /SF/Yr
Expense Ratio
52.50%
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%
$2,126,340
Cap Rate 7%
$1,518,814
Cap Rate 9%
$1,181,300
Alternative Uses
Best Use
Hotel Hospitality
$1.52M
$1.33M – $1.77M
NOI $106,317 @ 7.0% cap · market cap 5.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.75M
$4.16M – $5.55M
NOI $332,773 @ 7.0% cap · market cap 15.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
451
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 73703, OK
30,376
Population
13,610
Households
2.2
Avg Household Size
38
Median Age
31%
College-Educated
93%
High-School Grad
114.1 sq mi
ZIP Area
266
Density / Sq Mi
$74,202
Median Household Income
$41,860
Median Earnings
$1,039
Median Rent
$191,000
Median Home Value
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Similar Off Market Nearby
- Baymont by Wyndham Enid — 3614 W Owen K Garriott Rd, Enid, OK 73703
- Ramada by Wyndham Enid — 3005 W Owen K Garriott Rd, Enid, OK 73703
- Super 8 by Wyndham Enid — 2715 W Owen K Garriott Rd, Enid, OK 73703
Frequently Asked Questions
What type of property is this?
Motel - Operating hospitality property with owner’s residence, on-site parking, and municipal water and sewer service.
Where is this motel located?
The property is located at 2715 W Garriott Rd Enid, OK.
What is the asking price?
The asking price for this property is $2,120,000.
What are key features of this property?
This property features: Approximately 17,262 square feet (MOL) on approximately 1.24 acres (MOL); 40 bedrooms and 40 bathrooms, including owner’s living quarters; Remodeled in 2026; originally built in 1982
