Mixed-Use Building with Upstairs
New
For Sale
$250,000
1124 W Main St, Collinsville, OK 74021
Updated retail area and a move-in-ready apartment occupy this two-level commercial building.
Property Size1,428 SF
Price / SF$175.07
Days on Market3
Property Features for 1124 W Main St
General Information
Standard status
Active
Size
1,428 SF
Building Details
Year Built
1925
Listing Agency:
eXp Realty, LLC
Listed By:
Amber Williams
(918) 313-1190
Source:
Theashleygroupok
Added: Sep 13
Last Checked: Sep 14 at 7:16PM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
Built in 1925, this downtown Collinsville mixed-use building combines retail space on the ground floor with a move-in-ready apartment above. The retail area has updated epoxy flooring, while the apartment features vinyl flooring, appliances, and mini-split systems. Building frontage has also been recently updated.
Located at 1124 W Main St, the property fronts Main Street in Collinsville. The offering includes the real estate and building only; the existing business is not included and is relocating. The upstairs residence provides a separate component within the two-level layout, while the main floor is configured for retail use.
Located at 1124 W Main St, the property fronts Main Street in Collinsville. The offering includes the real estate and building only; the existing business is not included and is relocating. The upstairs residence provides a separate component within the two-level layout, while the main floor is configured for retail use.
Key Highlights
- Retail space on the main level with an apartment upstairs
- Move‑in‑ready apartment includes appliances and mini‑splits
- Retail area features updated epoxy flooring
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
$14,544
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
5.82%
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%
$290,880
$290.9K
Cap Rate 7%
$207,771
$207.8K
Cap Rate 9%
$161,600
$161.6K
Market Conditions
NOI Build-Up for 1,428 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
$21.4K $15.00/SF
− Vacancy
−$643 −$0.45/SF
EGI
$20.8K $14.55/SF
− OpEx
−$6.2K −$4.36/SF
NOI
$14.5K $10.18/SF
Area
Tulsa County, OK
Vacancy
3.00%
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%
$290,880
Cap Rate 7%
$207,771
Cap Rate 9%
$161,600
Alternative Uses
Best Use
Retail
$207.8K
$181.8K – $242.4K
NOI $14,544 @ 7.0% cap · market cap 5.82%
Second Best
Mixed Use
$185.9K
$162.7K – $216.9K
NOI $13,013 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$321.8K
$281.6K – $375.5K
NOI $22,528 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
339
Businesses Nearby
26k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 78%
Dining 22%
Casey's General Store
Shops & Services
15,668 visits/mo
0.3 miles
Cheris Daylight Donuts
Dining
3,010 visits/mo
0.2 miles
SUBWAY
Dining
2,664 visits/mo
0.4 miles
Sinclair
Shops & Services
2,660 visits/mo
0.2 miles
Shell
Shops & Services
2,106 visits/mo
0.5 miles
Demographics for 74021, OK
21,567
Population
8,705
Households
2.5
Avg Household Size
37
Median Age
23%
College-Educated
93%
High-School Grad
67.0 sq mi
ZIP Area
322
Density / Sq Mi
$90,148
Median Household Income
$46,186
Median Earnings
$1,197
Median Rent
$224,700
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Updated retail area and a move-in-ready apartment occupy this two-level commercial building.
Where is this mixed-use property located?
The property is located at 1124 W Main St Collinsville, 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: Retail space on the main level with an apartment upstairs; Move‑in‑ready apartment includes appliances and mini‑splits; Retail area features updated epoxy flooring
