Metal Retail Building with Loading
For Sale
$999,870
1017 N Washington Street, Ardmore, OK 73401
SINGLE_FAMILY - Ardmore, OK
Property Size6,300 SF
Lot Size1.06 Acres
Price / SF$158.71
Days on Market116
Property Features for 1017 N Washington Street
General Information
Property type
Residential
Property subtype
Retail
Zoning
Commercial
Accessibility
Accessible Approach with Ramp
Directions
N. Commerce and 12th AVE NW, East to N. Washington, then South to the property on the SW corner of 11th and Washington.
Standard status
Active
APN
1017NWashington73401
Size
6,300 SF
Lot size
1.06 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1994
Floors in Building
1
Building materials
Metal Siding
Listing Agency:
Dean Lemons & Associates
(405) 682-9505
Listed By:
Mark Graham
(940) 782-3098
Added: Apr 15
Changed: Jul 17
Last Checked: Aug 8 at 8:06PM
MLS# 1224637
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.
This turn-key for-sale opportunity includes a 1994-constructed metal retail building with retail sales floor, behind-the-counter inventory/stock and work-area space, warehouse space, and an office area. The property also features 2 bathrooms for patrons and/or employee use, one loading dock, and signage that includes a building-mounted sign plus a 16-foot pole sign approximately 6' x 4'. Measurements provided are approximate and should be verified by the buyer or their representative.
The property is located on a main arterial road in Ardmore, Oklahoma, about a mile from State HW 77 and approximately 2.5 miles east of I-35, with daily traffic count around 9,000 vehicles based on 2023 data. The property is zoned Commercial.
In addition to the real estate, the business sale includes debt-free inventory, debt-free equipment, all sales accounts (including established municipal, state, and private accounts), and the owners good will and reputation built over 35 years of successful business relationships. The site totals 1.06 acres MOL.
The property is located on a main arterial road in Ardmore, Oklahoma, about a mile from State HW 77 and approximately 2.5 miles east of I-35, with daily traffic count around 9,000 vehicles based on 2023 data. The property is zoned Commercial.
In addition to the real estate, the business sale includes debt-free inventory, debt-free equipment, all sales accounts (including established municipal, state, and private accounts), and the owners good will and reputation built over 35 years of successful business relationships. The site totals 1.06 acres MOL.
Key Highlights
- Turn‑key business opportunity including real estate, debt‑free inventory and equipment, established accounts, and goodwill.
- Prime location on a main arterial road with high daily traffic count (approximately 9,000 vehicles).
- Strategic location near State HW 77 and I‑35.
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
$84,021
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
8.40%
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%
$1,680,420
$1.7M
Cap Rate 7%
$1,200,300
$1.2M
Cap Rate 9%
$933,567
$933.6K
Market Conditions
NOI Build-Up for 6,300 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
$133.8K $21.24/SF
− Vacancy
−$13.8K −$2.19/SF
EGI
$120.0K $19.05/SF
− OpEx
−$36.0K −$5.72/SF
NOI
$84.0K $13.34/SF
Area
Carter County, OK
Vacancy
10.30%
Lease Rate
$21.24 /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%
$1,680,420
Cap Rate 7%
$1,200,300
Cap Rate 9%
$933,567
Alternative Uses
Best Use
Warehouse
$1.46M
$1.28M – $1.70M
NOI $102,025 @ 7.0% cap · market cap 10.20%
Second Best
Industrial
$1.20M
$1.05M – $1.40M
NOI $84,021 @ 7.0% cap · market cap 8.40%
Theoretical Best
Office A
$1.62M
$1.41M – $1.88M
NOI $113,098 @ 7.0% cap · market cap 11.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
9,000 VPD
Traffic count
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
738
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 73401, OK
36,744
Population
16,349
Households
2.2
Avg Household Size
41
Median Age
23%
College-Educated
88%
High-School Grad
351.5 sq mi
ZIP Area
105
Density / Sq Mi
$60,288
Median Household Income
$39,005
Median Earnings
$960
Median Rent
$174,700
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - Turn-key commercial property with metal retail building, office area, warehouse space, and a loading dock on a main arterial road.
Where is this auto shop located?
The property is located at 1017 N Washington Street Ardmore, OK.
What is the asking price?
The asking price for this property is $999,870.
What are key features of this property?
This property features: Turn‑key business opportunity including real estate, debt‑free inventory and equipment, established accounts, and goodwill.; Prime location on a main arterial road with high daily traffic count (approximately 9,000 vehicles).; Strategic location near State HW 77 and I‑35.
