Stylish Commercial Property with
For Sale
$338,000
113 Broadway, Blanchard, OK 73010
Modern 1400 SF commercial space with parking near Main Street.
Property Size1,400 SF
Price / SF$241.43
Days on Market1380
Property Features for 113 Broadway
General Information
Standard status
Active
Size
1,400 SF
Property subtype
Office
Amenities
3
Building Details
Year Built
2018
Listing Agency:
Lb Realty Group-mb Of Oklahoma
(405) 317-9542
Listed By:
Jill Stephens
(405) 414-9141
Source:
Xome
Added: Nov 26, 2022
Changed: Sep 2
Last Checked: Sep 5 at 5:26AM
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 Lb Realty Group-mb Of Oklahoma
Investment Insights
Based on property information with market context.
This commercial property features modern finishes and natural light. The 1400 square foot space includes two open areas, built-in speakers, an office, and a bathroom. The property previously served as a floral shop and is suitable for use as an office or boutique. Ample front parking is available, along with two covered parking spaces in the back. The property is located off Main Street, providing access to Norman and Oklahoma City.
Key Highlights
- Convenient location off Main Street with easy access to Norman and OKC.
- 1400 sq ft of space suitable for various business uses.
- Sleek modern finishes and an abundance of natural light.
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
$11,873
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
3.51%
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%
$237,460
$237.5K
Cap Rate 7%
$169,614
$169.6K
Cap Rate 9%
$131,922
$131.9K
Market Conditions
NOI Build-Up for 1,400 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
$21.3K $15.24/SF
− Vacancy
−$5.5K −$3.93/SF
EGI
$15.8K $11.31/SF
− OpEx
−$4.0K −$2.83/SF
NOI
$11.9K $8.48/SF
Area
McClain County, OK
Vacancy
25.80%
Lease Rate
$15.24 /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%
$237,460
Cap Rate 7%
$169,614
Cap Rate 9%
$131,922
Alternative Uses
Best Use
Office B
$169.6K
$148.4K – $197.9K
NOI $11,873 @ 7.0% cap · market cap 3.51%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$338.4K
$296.1K – $394.8K
NOI $23,688 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
283
Businesses Nearby
Explore this area
Business Placement
Demographics for 73010, OK
20,744
Population
7,770
Households
2.7
Avg Household Size
39
Median Age
26%
College-Educated
91%
High-School Grad
174.5 sq mi
ZIP Area
119
Density / Sq Mi
$86,968
Median Household Income
$47,315
Median Earnings
$1,070
Median Rent
$241,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Modern 1400 SF commercial space with parking near Main Street.
Where is this office units located?
The property is located at 113 Broadway Blanchard, OK.
What is the asking price?
The asking price for this property is $338,000.
What are key features of this property?
This property features: Convenient location off Main Street with easy access to Norman and OKC.; 1400 sq ft of space suitable for various business uses.; Sleek modern finishes and an abundance of natural light.
