Lexington Convenience Store &
For Sale
$329,000
12001 Slaughterville Road, Lexington, OK 73051
Operating convenience store and gas station on 1.1-acre corner lot.
Property Size1,248 SF
Lot Size1.10 Acres
Price / SF$263.62
Days on Market1699
Property Features for 12001 Slaughterville Road
General Information
Standard status
Active
Size
1,248 SF
Lot size
1.10 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$1,080
Amenities
Central Air
3
Gravel.
Building Details
Year Built
1968
Listing Agency:
Brick and Beam Realty
(903) 583-8538
Listed By:
Chris Johnson · License #200452
(405) 435-3572
Source:
Xome
Added: Jan 6, 2022
Changed: Aug 12
Last Checked: Aug 31 at 12:34PM
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 Brick and Beam Realty
Investment Insights
Based on property information with market context.
This property presents an opportunity to acquire an operating convenience store and gas station in Lexington. Situated on a 1.1-acre hard corner lot, the property includes a 1,248-square-foot building. The business has been serving the community since 1987. The property features two above-ground tanks with three dispensers. One tank has a 3,000-gallon capacity for diesel, and the other has a 9,300-gallon capacity for unleaded fuel. Additionally, there is a 16x20 portable building that includes a 12x16 kitchen and an 8x16 storage area. Note that the sales price does not include the inventory value.
Key Highlights
- Fully operational convenience store/gas station business since 1987
- Located on a 1.1‑acre hard corner lot
- Includes two above‑ground tanks: 3000 gallons (diesel) and 9300 gallons (unleaded)
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
$17,934
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
5.45%
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%
$358,680
$358.7K
Cap Rate 7%
$256,200
$256.2K
Cap Rate 9%
$199,267
$199.3K
Market Conditions
NOI Build-Up for 1,248 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
$26.7K $21.36/SF
− Vacancy
−$2.7K −$2.20/SF
EGI
$23.9K $19.16/SF
− OpEx
−$6.0K −$4.79/SF
NOI
$17.9K $14.37/SF
Area
Cleveland County, OK
Vacancy
10.30%
Lease Rate
$21.36 /SF/Yr
Expense Ratio
25.00%
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%
$358,680
Cap Rate 7%
$256,200
Cap Rate 9%
$199,267
Alternative Uses
Best Use
Specialty Retail
$256.2K
$224.2K – $298.9K
NOI $17,934 @ 7.0% cap · market cap 5.45%
Second Best
Retail
$177.8K
$155.6K – $207.5K
NOI $12,449 @ 7.0% cap · market cap 3.78%
Theoretical Best
Office A
$306.9K
$268.5K – $358.1K
NOI $21,483 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Explore this area
Business Placement
Demographics for 73051, OK
9,541
Population
3,210
Households
3
Avg Household Size
42
Median Age
12%
College-Educated
83%
High-School Grad
126.7 sq mi
ZIP Area
75
Density / Sq Mi
$65,074
Median Household Income
$37,857
Median Earnings
$934
Median Rent
$152,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Gas station - Operating convenience store and gas station on 1.1-acre corner lot.
Where is this gas station located?
The property is located at 12001 Slaughterville Road Lexington, OK.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: Fully operational convenience store/gas station business since 1987; Located on a 1.1‑acre hard corner lot; Includes two above‑ground tanks: 3000 gallons (diesel) and 9300 gallons (unleaded)
