Mixed-Use Property With
For Sale
$1,100,000
6300 E Reno Ave, Midwest City, OK 73110
Commercial Sale, Midwest City, OK
Property Size8,091 SF
Lot Size0.48 Acres
Price / SF$135.95
Days on Market35
Property Features for 6300 E Reno Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking features
Driveway
Subdivision
Midwest City
Lot features
Corner Lot
View
City
High school district
000000
Directions
Heading east on Reno Ave, pass Sooner Rd, building is on the corner of Char Ln and Reno Ave.
Standard status
Active
APN
000000-000.000-0000-001.000
Size
8,091 SF
Lot size
0.48 Acres
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
new roof
new fire suppression system
new HVAC
full spray foam insulation
updated electrical system
accessible lint filtration and drainage systems
hot water heater and boiler
separate interior and exterior electrical breakers
exterior ventilation
reinforced metal safe room
20-foot ceilings
three overhead doors
additional space
large illuminated roadside sign
Building Details
Year built
1973
Flooring type
Tile
Building materials
Aluminum
Listing Agency:
KirkAngel LLC
(405) 208-7802
Listed By:
Robert Angelo · License #158664
(405) 308-1555
Added: Aug 5
Changed: Sep 4
Last Checked: Sep 8 at 4:06PM
MLS# 11920953
Copyright © 2026 My State MLS. 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 mixed-use commercial property includes an established laundromat, convenience store, and smoke shop within an 8,091+/- SF building on a 20,825+/- SF lot. The laundry operation includes 40 Dexter washers and 20 dryers, while the garage and service area provides approximately 20-foot ceilings and three overhead doors. The property also features tile flooring, forced-air and natural-gas heating, public water, and driveway parking.
Recent improvements include a new roof, fire suppression system, HVAC system, and full spray foam insulation, all completed in 2024. Additional infrastructure includes updated electrical service, separate interior and exterior breakers, lint filtration and drainage systems, a hot water heater and boiler, exterior ventilation, and a reinforced metal safe room. The site includes 23 parking spaces and an illuminated roadside sign. Additional interior space may support dry-cleaning services or complementary retail uses.
Recent improvements include a new roof, fire suppression system, HVAC system, and full spray foam insulation, all completed in 2024. Additional infrastructure includes updated electrical service, separate interior and exterior breakers, lint filtration and drainage systems, a hot water heater and boiler, exterior ventilation, and a reinforced metal safe room. The site includes 23 parking spaces and an illuminated roadside sign. Additional interior space may support dry-cleaning services or complementary retail uses.
Key Highlights
- 8,091+/- SF building on a 20,825+/- SF lot
- Laundromat includes 40 Dexter washers and 20 dryers
- Convenience store and smoke shop operate alongside the laundromat
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
$85,401
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
7.76%
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%
$1,708,020
$1.7M
Cap Rate 7%
$1,220,014
$1.2M
Cap Rate 9%
$948,900
$948.9K
Market Conditions
NOI Build-Up for 8,091 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
$135.0K $16.68/SF
− Vacancy
−$13.0K −$1.60/SF
EGI
$122.0K $15.08/SF
− OpEx
−$36.6K −$4.52/SF
NOI
$85.4K $10.56/SF
Area
Oklahoma County, OK
Vacancy
9.60%
Lease Rate
$16.68 /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%
$1,708,020
Cap Rate 7%
$1,220,014
Cap Rate 9%
$948,900
Alternative Uses
Best Use
Retail
$1.22M
$1.07M – $1.42M
NOI $85,401 @ 7.0% cap · market cap 7.76%
Second Best
Specialty Retail
$1.22M
$1.06M – $1.42M
NOI $85,107 @ 7.0% cap · market cap 7.74%
Theoretical Best
Office A
$1.69M
$1.47M – $1.97M
NOI $117,964 @ 7.0% cap · market cap 10.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
511
Businesses Nearby
22k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 43%
Shops & Services 38%
Dining 19%
Goodwill
Apparel
9,574 visits/mo
0.4 miles
Family Dollar
Shops & Services
6,117 visits/mo
0.0 miles
Arby's
Dining
4,288 visits/mo
0.2 miles
Cash America
Shops & Services
2,478 visits/mo
0.5 miles
Demographics for 73110, OK
33,156
Population
15,826
Households
2.1
Avg Household Size
35
Median Age
20%
College-Educated
91%
High-School Grad
15.5 sq mi
ZIP Area
2,139
Density / Sq Mi
$50,436
Median Household Income
$35,043
Median Earnings
$1,007
Median Rent
$119,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Building combines laundry, convenience retail, and smoke shop operations with customer parking and dedicated service space.
Where is this mixed-use property located?
The property is located at 6300 E Reno Ave Midwest City, OK.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 8,091+/- SF building on a 20,825+/- SF lot; Laundromat includes 40 Dexter washers and 20 dryers; Convenience store and smoke shop operate alongside the laundromat
