Building Details

Year Built 2017

Listing Agency: RE/MAX Realty Plus Inc s***@gmail.com Show Phone

Listed By: Madison Miller

Source: Alloverok

Added: Jul 20 Changed: Aug 28 Last Checked: Aug 28 at 11:35AM

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Investment Insights

Based on property information with market context.

This retail property includes an approximately 1,800-square-foot commercial building constructed in 2017. The flexible interior is currently configured for a flower shop and may accommodate continued floral operations, retail, office, or service-based business use. The building is described as well maintained and provides a versatile layout for an owner-user or operator.

The property fronts Highway 66 along N Broadway Ave in Davenport, Oklahoma, providing direct exposure from the historic Route 66 corridor. Easy access and visible positioning support customer-oriented commercial activity. Inventory and equipment may be negotiated separately for a buyer seeking to continue the existing flower shop operation.

Key Highlights

• Approximately 1,800‑square‑foot retail building
• Built in 2017
• Highway 66 frontage along N Broadway Ave

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

$17,955

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

8.55%

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%

$359,100 $359.1K

Cap Rate 7%

$256,500 $256.5K

Cap Rate 9%

$199,500 $199.5K

Market Conditions

NOI Build-Up for 1,800 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

$27.0K $15.00/SF

− Vacancy

−$1.4K −$0.75/SF

EGI

$25.7K $14.25/SF

− OpEx

−$7.7K −$4.27/SF

NOI

$18.0K $9.98/SF

Area

Lincoln County, OK

Vacancy

5.00%

Lease Rate

$15.00 /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%

$359,100

Cap Rate 7%

$256,500

Cap Rate 9%

$199,500

Alternative Uses

Best Use

Retail

$256.5K

$224.4K – $299.3K (±1% cap)

NOI $17,955 @ 7.0% cap · market cap 8.55%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$435.1K

$380.7K – $507.6K (±1% cap)

NOI $30,456 @ 7.0% cap · market cap 14.50%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Retail space

Suggested Use

Top Pick Building Supply Auto Parts Store Storage Facility Grocery & Convenience Store Cafe & Coffee Shop Florist

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

82

Businesses Nearby

3k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Phillips 66 Shops & Services

2,741 visits/mo 0.2 miles

Demographics for 74026, OK

971

Population

356

Households

2.7

Avg Household Size

38

Median Age

8%

College-Educated

89%

High-School Grad

9.5 sq mi

ZIP Area

102

Density / Sq Mi

$54,853

Median Household Income

$36,579

Median Earnings

$873

Median Rent

$92,400

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Retail space - Well-maintained commercial space with a flexible layout for retail, office, or service-oriented operations.

Where is this retail space located?

The property is located at 1003 N Broadway Ave Davenport, OK.

What is the asking price?

The asking price for this property is $210,000.

What are key features of this property?

This property features: Approximately 1,800‑square‑foot retail building; Built in 2017; Highway 66 frontage along N Broadway Ave