Renovated Mixed-Use
For Sale
$484,900
407 W Will Rogers Boulevard, Claremore, OK 74017
Commercial, Claremore, OK
Property Size3,760 SF
Lot Size0.05 Acres
Price / SF$128.96
Days on Market141
Property Features for 407 W Will Rogers Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
UC
Interior features
Display Window, Public Restrooms
Exterior features
Sidewalk
Subdivision
CLAREMORE OT
Elementary school district
Claremore - Sch Dist (20)
Middle school district
Claremore - Sch Dist (20)
High school district
Claremore - Sch Dist (20)
Directions
POB: Will Rogers Blvd and Lynn Riggs. East on Will Rogers. Building is on the second block, right side (south) of road, 3rd from end of block.
Standard status
Active
APN
660009347
Size
3,760 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
E 19' LOT 7 & W 6' LOT 8 BLOCK 113 CLAREMORE O T
Tax Annual Amount
4060
Legal Description
E 19' LOT 7 & W 6' LOT 8 BLOCK 113 CLAREMORE O T
Utilities
Utilities
Cable Available
Heating system
Central
Cooling system
Central Air
Amenities
storefront display window
private entrance
Building Details
Year built
1929
Building materials
Brick
Listing Agency:
Keller Williams Premier · Keller Williams Realty
(918) 283-2252
Listed By:
Kevin Abbott · License #175462
(918) 244-9706
Added: Apr 15
Changed: Aug 19
Last Checked: Sep 2 at 2:06PM
MLS# 2613509
Copyright © 2026 MLS Technology, 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 brick mixed-use building contains 3,760 square feet across two levels and dates to 1929. The approximately 2,400-square-foot ground floor is configured for retail use, with a prominent display window and public restrooms. Central heating and central air serve the building, which also includes a sidewalk and cable availability.
The retail component is leased, while the upper level has a separate street entrance and is operated as a short-term rental. The property is positioned on Will Rogers Boulevard within Claremore’s historic Lilac District, near downtown shops, restaurants, and local attractions. UC zoning is noted for the site.
The retail component is leased, while the upper level has a separate street entrance and is operated as a short-term rental. The property is positioned on Will Rogers Boulevard within Claremore’s historic Lilac District, near downtown shops, restaurants, and local attractions. UC zoning is noted for the site.
Key Highlights
- 3,760‑square‑foot mixed‑use building constructed in 1929
- Approximately 2,400 square feet of ground‑floor retail space
- Ground‑floor retail component is currently leased
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
$27,918
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
5.76%
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%
$558,360
$558.4K
Cap Rate 7%
$398,829
$398.8K
Cap Rate 9%
$310,200
$310.2K
Market Conditions
NOI Build-Up for 3,760 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
$49.6K $13.20/SF
− Vacancy
−$5.0K −$1.32/SF
EGI
$44.7K $11.88/SF
− OpEx
−$16.8K −$4.46/SF
NOI
$27.9K $7.42/SF
Area
Rogers County, OK
Vacancy
10.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
37.50%
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%
$558,360
Cap Rate 7%
$398,829
Cap Rate 9%
$310,200
Alternative Uses
Best Use
Retail
$753.9K
$659.7K – $879.6K
NOI $52,773 @ 7.0% cap · market cap 10.88%
Second Best
Mixed Use
$398.8K
$349.0K – $465.3K
NOI $27,918 @ 7.0% cap · market cap 5.76%
Theoretical Best
Specialty Retail
$941.7K
$824.0K – $1.10M
NOI $65,920 @ 7.0% cap · market cap 13.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,162
Businesses Nearby
Explore this area
Business Placement
Demographics for 74017, OK
29,083
Population
12,038
Households
2.4
Avg Household Size
40
Median Age
23%
College-Educated
92%
High-School Grad
140.5 sq mi
ZIP Area
207
Density / Sq Mi
$65,519
Median Household Income
$38,165
Median Earnings
$1,015
Median Rent
$184,400
Median Home Value
Market
Vacancy Rate% for Multifamily 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?
Mixed-use property - Two-level property combines leased retail with a private-entry short-term rental.
Where is this mixed-use property located?
The property is located at 407 W Will Rogers Boulevard Claremore, OK.
What is the asking price?
The asking price for this property is $484,900.
What are key features of this property?
This property features: 3,760‑square‑foot mixed‑use building constructed in 1929; Approximately 2,400 square feet of ground‑floor retail space; Ground‑floor retail component is currently leased
