Building Details

Year Built 1894

Building Size 2,044 SF

Listing Agency: Homestead + Co

Listed By: Braxton Heard Show Phone

Source: Alloverok

Added: Aug 22 Changed: Oct 13 Last Checked: Oct 7 at 1:56PM

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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 Homestead + Co

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Investment Insights

Based on property information with market context.

This flex space at 106 N Main St encompasses 2,044 square feet on a 3-acre property. Constructed in 1924, the building is identified as the former Mulhall bank and has been fully renovated while retaining original character details. The interior and surrounding acreage provide a substantial setting for continued commercial use or a future occupant’s buildout plans.

The property fronts Main Street in Mulhall, Oklahoma, providing an established in-town setting for a flexible commercial operation. Its combination of renovated improvements, historic building identity, and land area distinguishes it from a conventional standalone space.

Key Highlights

• 2,044‑square‑foot flex space
• 3‑acre property along Main Street
• Built in 1924

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$12,692

Cap Rate

5.08%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$253,840 $253.8K

Cap Rate 7%

$181,314 $181.3K

Cap Rate 9%

$141,022 $141.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,044 SF

Gross rent

$19.6K $9.60/SF

− Vacancy

−$1.5K −$0.73/SF

EGI

$18.1K $8.87/SF

− OpEx

−$5.4K −$2.66/SF

NOI

$12.7K $6.21/SF

Area

Logan County, OK

Vacancy

7.60%

Lease Rate

$9.60 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$253,840

Cap Rate 7%

$181,314

Cap Rate 9%

$141,022

Alternative Uses

Best Use

Flex RnD

$362.7K

$317.4K – $423.2K (±1% cap)

NOI $25,390 @ 7.0% cap · market cap 10.16%

Second Best

Industrial

$181.3K

$158.7K – $211.5K (±1% cap)

NOI $12,692 @ 7.0% cap · market cap 5.08%

Theoretical Best

Specialty Retail

$494.1K

$432.3K – $576.4K (±1% cap)

NOI $34,584 @ 7.0% cap · market cap 13.83%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Catering Service Food Market Farmer's Market Department Store Restaurant

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

Paved road access

Location Intelligence

Trade Area within ½ mile

24

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 73063, OK

710

Population

414

Households

1.7

Avg Household Size

45

Median Age

27%

College-Educated

96%

High-School Grad

108.3 sq mi

ZIP Area

7

Density / Sq Mi

$76,500

Median Household Income

$48,698

Median Earnings

$179,000

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Similar Off Market Nearby

• Prairie Catering — 102 S Main St, Mulhall, OK 73063

Frequently Asked Questions

What type of property is this?

Flex space - The renovated building combines adaptable commercial space with preserved character details from its 1924 construction.

Where is this flex space located?

The property is located at 106 N Main St Mulhall, OK.

What is the asking price?

The asking price for this property is $250,000.

What are key features of this property?

This property features: 2,044‑square‑foot flex space; 3‑acre property along Main Street; Built in 1924