Building Details

Building Size 2,434 SF

Year Built 1901

Stories 2

Listing Agency: Black Buffalo Real Estate a***@gmail.com Show Phone

Listed By: Adam Johnson · License #203016 Show Phone

Source: Capitalrealestateok

Added: Mar 31 Changed: Aug 23 Last Checked: Aug 23 at 6:49AM

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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 Black Buffalo Real Estate

Investment Insights

Based on property information with market context.

This for-sale retail storefront property includes 2,434 square feet and offers an owner-operator or investor a commercial building they can put to work immediately. The offering is positioned as a single property with flexible retail/service potential based on its storefront configuration.

The building is located at 114 E 1st St in Luther, Oklahoma 73054.

Key Highlights

• For sale retail storefront property at 114 E 1st Street in Luther, OK
• 2,434 sq ft of retail 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

8.56%

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 2,434 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

$40.6K $16.68/SF

− Vacancy

−$3.9K −$1.60/SF

EGI

$36.7K $15.08/SF

− OpEx

−$11.0K −$4.52/SF

NOI

$25.7K $10.56/SF

Area

Oklahoma County, OK

Vacancy

9.60%

Lease Rate

$16.68 /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%

$513,820

Cap Rate 7%

$367,014

Cap Rate 9%

$285,456

Alternative Uses

Best Use

Retail

$367.0K

$321.1K – $428.2K (±1% cap)

NOI $25,691 @ 7.0% cap · market cap 8.56%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$507.0K

$443.6K – $591.5K (±1% cap)

NOI $35,487 @ 7.0% cap · market cap 11.83%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

UPS Authorized Shipping ... Courier Service Luther Hardware & Lumber Building Supply

Suggested Use

Top Pick Building Supply Plumbing Service Storage Facility (Bike/Boat/Book/etc) Store Kitchen & Bath Showroom Cafe & Coffee Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

99

Businesses Nearby

19k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 71% Dining 29%

Dollar General Shops & Services

9,209 visits/mo 0.5 miles

SONIC Drive In Dining

5,461 visits/mo 0.3 miles

Conoco Shops & Services

2,763 visits/mo 0.3 miles

Luther Hardware & Lumber Shops & Services

1,320 visits/mo 0.2 miles

Demographics for 73054, OK

4,636

Population

1,956

Households

2.4

Avg Household Size

40

Median Age

26%

College-Educated

91%

High-School Grad

89.8 sq mi

ZIP Area

52

Density / Sq Mi

$57,292

Median Household Income

$36,220

Median Earnings

$788

Median Rent

$206,900

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Storefront property - For sale retail storefront property in Luther, OK with 2,434 square feet of space.

Where is this storefront property located?

The property is located at 114 E 1st Street Luther, OK.

What is the asking price?

The asking price for this property is $299,999.

What are key features of this property?

This property features: For sale retail storefront property at 114 E 1st Street in Luther, OK; 2,434 sq ft of retail space