Two-Building Mixed-Use
For Sale
Contact for pricing
1013 Southwest Sheridan Road, Lawton, OK 73505
One building is owner-occupied, while the other is leased to an existing tenant.
Property Size9,150 SF
Price / SF$92.90
Days on Market9
Property Features for 1013 Southwest Sheridan Road
General Information
Standard status
Active
Size
9,150 SF
Property subtype
Retail, Office
Occupancy
100%
Additional Details
Pylon Signage
Yes
Amenities
upgraded LED ceiling lighting
private offices
2 restrooms
large paved parking area
Building Details
Buildings
2
Tenancy
Multi
Owner Occupied
Yes
Listing Agency:
Insight Commercial Real Estate
Listed By:
Melissa Busse · License #OK
(580) 353-6100
Source:
Crexi
Added: Sep 18
Changed: Sep 24
Last Checked: Sep 26 at 5:30AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Insight Commercial Real Estate
Investment Insights
Based on property information with market context.
The property comprises two buildings totaling approximately 9,150 SF. The approximately 6,080-SF building is owner-occupied and configured with a retail showroom, classroom, and service areas. Improvements include LED ceiling lighting, two new 5-ton HVAC units, and a roof replaced approximately five years ago. The second building contains approximately 3,073 SF and is leased to an existing tenant. It includes private offices and two restrooms, along with recently replaced carpet, a new 5-ton HVAC unit installed in 2026, and a roof replaced in 2026.
A large paved parking area and pole sign serve the property along SW Sheridan Road. Nearby businesses include O'Reilly Auto Parts, Wayne's Drive-In, Taco Bell, McDonald's, Arby's, Murphy's Gas Station, Braum's, Walmart, Sam's Club, and Comanche County Fairgrounds.
A large paved parking area and pole sign serve the property along SW Sheridan Road. Nearby businesses include O'Reilly Auto Parts, Wayne's Drive-In, Taco Bell, McDonald's, Arby's, Murphy's Gas Station, Braum's, Walmart, Sam's Club, and Comanche County Fairgrounds.
Key Highlights
- Two buildings with approximately 9,150 SF combined
- Approximately 6,080‑SF owner‑occupied building with showroom, classroom, and service areas
- Approximately 3,073‑SF building leased to an existing tenant
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
$58,674
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
6.90%
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%
$1,173,480
$1.2M
Cap Rate 7%
$838,200
$838.2K
Cap Rate 9%
$651,933
$651.9K
Market Conditions
NOI Build-Up for 9,150 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
$104.3K $11.40/SF
− Vacancy
−$10.4K −$1.14/SF
EGI
$93.9K $10.26/SF
− OpEx
−$35.2K −$3.85/SF
NOI
$58.7K $6.41/SF
Area
Comanche County, OK
Vacancy
10.00%
Lease Rate
$11.40 /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%
$1,173,480
Cap Rate 7%
$838,200
Cap Rate 9%
$651,933
Alternative Uses
Best Use
Retail
$1.74M
$1.53M – $2.03M
NOI $122,030 @ 7.0% cap · market cap 14.36%
Second Best
Mixed Use
$838.2K
$733.4K – $977.9K
NOI $58,674 @ 7.0% cap · market cap 6.90%
Theoretical Best
Office A
$2.25M
$1.97M – $2.63M
NOI $157,506 @ 7.0% cap · market cap 18.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
581
Businesses Nearby
9k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 78%
Dining 15%
Home Improvements & Furnishings 6%
O'Reilly Auto Parts
Shops & Services
5,047 visits/mo
0.5 miles
Valero Energy
Shops & Services
2,176 visits/mo
0.2 miles
China Express
Dining
1,408 visits/mo
0.3 miles
United Rentals
Home Improvements & Furnishings
593 visits/mo
0.5 miles
Demographics for 73505, OK
46,881
Population
22,124
Households
2.1
Avg Household Size
36
Median Age
25%
College-Educated
90%
High-School Grad
64.6 sq mi
ZIP Area
726
Density / Sq Mi
$57,496
Median Household Income
$33,601
Median Earnings
$915
Median Rent
$147,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - One building is owner-occupied, while the other is leased to an existing tenant.
Where is this mixed-use property located?
The property is located at 1013 Southwest Sheridan Road Lawton, OK.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Two buildings with approximately 9,150 SF combined; Approximately 6,080‑SF owner‑occupied building with showroom, classroom, and service areas; Approximately 3,073‑SF building leased to an existing tenant
