Zoned C3 Live-Work
For Sale
$350,000
113 S Main St, Noble, OK 73068
Remodeled live-work building formerly used as a restaurant, with potential living quarters upstairs, zoned C3.
Property Size2,595 SF
Price / SF$134.87
Days on Market130
Property Features for 113 S Main St
General Information
Standard status
Active
Size
2,595 SF
Zoning
C3
Listing Agency:
Verity Real Estate LLC
(405) 410-1721
Listed By:
Mary Walters
(405) 626-1774
Source:
Exprealty
Added: Apr 30
Changed: Aug 21
Last Checked: Sep 5 at 10:20AM
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 Verity Real Estate LLC
Investment Insights
Based on property information with market context.
This remodeled live-work building was previously used as a restaurant and offers flexible space for a variety of commercial concepts. The property includes possible living quarters upstairs, creating a layout suited to a true live-work setup, while supporting storefront or office use within the main commercial area.
Located at 113 S Main St in Noble, Oklahoma, the property is zoned C3 and is described as being in the heart of downtown Noble. It may also appeal to businesses looking to align with local events and community activity.
With its multi-purpose configuration and upstairs living potential, the building is positioned for owners seeking a single property that can accommodate both commercial operations and residential use, subject to applicable approvals under the existing zoning.
Located at 113 S Main St in Noble, Oklahoma, the property is zoned C3 and is described as being in the heart of downtown Noble. It may also appeal to businesses looking to align with local events and community activity.
With its multi-purpose configuration and upstairs living potential, the building is positioned for owners seeking a single property that can accommodate both commercial operations and residential use, subject to applicable approvals under the existing zoning.
Key Highlights
- 2,500+ SF remodeled commercial building in downtown Noble, OK
- Zoned C3 for flexible commercial use
- Previously used as a restaurant, now set up as a multi‑purpose space
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
$25,691
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
7.34%
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%
$513,820
$513.8K
Cap Rate 7%
$367,014
$367.0K
Cap Rate 9%
$285,456
$285.5K
Market Conditions
NOI Build-Up for 2,595 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
$46.7K $18.00/SF
− Vacancy
−$5.6K −$2.16/SF
EGI
$41.1K $15.84/SF
− OpEx
−$15.4K −$5.94/SF
NOI
$25.7K $9.90/SF
Area
Cleveland County, OK
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$513,820
Cap Rate 7%
$367,014
Cap Rate 9%
$285,456
Alternative Uses
Best Use
Office B
$488.9K
$427.8K – $570.4K
NOI $34,224 @ 7.0% cap · market cap 9.78%
Second Best
Mixed Use
$367.0K
$321.1K – $428.2K
NOI $25,691 @ 7.0% cap · market cap 7.34%
Theoretical Best
Office A
$638.1K
$558.4K – $744.5K
NOI $44,670 @ 7.0% cap · market cap 12.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
266
Businesses Nearby
Explore this area
Business Placement
Demographics for 73068, OK
12,368
Population
5,115
Households
2.4
Avg Household Size
38
Median Age
22%
College-Educated
88%
High-School Grad
64.5 sq mi
ZIP Area
192
Density / Sq Mi
$78,727
Median Household Income
$43,050
Median Earnings
$958
Median Rent
$188,800
Median Home Value
Market
Vacancy Rate% for Office 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?
Live-work space - Remodeled live-work building formerly used as a restaurant, with potential living quarters upstairs, zoned C3.
Where is this live-work space located?
The property is located at 113 S Main St Noble, OK.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 2,500+ SF remodeled commercial building in downtown Noble, OK; Zoned C3 for flexible commercial use; Previously used as a restaurant, now set up as a multi‑purpose space
