Building Details

Year built 2017

Floors in Building 1

Building materials Metal Siding

Listing Agency: RE/MAX Realty Plus Inc · RE/MAX International d***@remax.net Show Phone

Listed By: Madison Miller Show Phone

Added: Jun 19 Changed: Sep 2 Last Checked: Sep 5 at 11:06PM

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MLS# 1235433

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.

Built in 2017, this commercial building contains approximately 1,800 square feet and is currently operating as a flower shop. The layout is positioned for continued floral use or adaptation to retail, office, and service-based business functions. Metal siding is among the listed construction materials, and the property is zoned Commercial.

The property fronts Highway 66 at 1003 N Broadway Avenue in Davenport, Oklahoma, providing roadside exposure and convenient access. It is also identified along historic Route 66. Inventory and equipment may be negotiated separately for buyers seeking to continue the existing floral operation.

Key Highlights

• 1,800 square feet of commercial building area
• Built in 2017
• Currently operating as a flower shop

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

9.16%

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 9.16%

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 15.54%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Storefront properties

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

Location Intelligence

Trade Area within ½ mile

67

Businesses Nearby

3k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Phillips 66 Shops & Services

2,741 visits/mo 0.1 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

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Route 66 Retail Building

1003 N Broadway Ave, Davenport, OK 74026

$196,000

1,800 SF

View details

Grocery and Convenience Store with Gas

620 N Broadway Street, Davenport, OK 74026

Contact for pricing

3,315 SF

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Similar Off Market Nearby

• 66 Routes & Blooms — 1003 North, Broadway, Davenport, OK 74026

Frequently Asked Questions

What type of property is this?

Storefront property - Flexible floor plan suited to retail, office, service-based, or continued floral operations.

Where is this storefront property located?

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

What is the asking price?

The asking price for this property is $196,000.

What are key features of this property?

This property features: 1,800 square feet of commercial building area; Built in 2017; Currently operating as a flower shop