Renovated Historic Wedding
For Sale
$1,400,000
117 Caddo St, Ardmore, OK 73401
Historic event property with flexible spaces, a commercial kitchen, private courtyard, and additional lots for on-site parking.
Property Size8,698 SF
Price / SF$160.96
Days on Market41
Property Features for 117 Caddo St
General Information
Standard status
Active
Size
8,698 SF
Additional Details
Utilities to Site
Yes
Amenities
commercial kitchen
event venue
private rear courtyard
center walkway
Building Details
Year Built
1909
Buildings
1
Listing Agency:
BaseCamp Realty
(817) 851-3394
Listed By:
Sandra Wells · License #0737680
Source:
Alloverok
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 25 at 3:55AM
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 BaseCamp Realty
Investment Insights
Based on property information with market context.
Renovated historic wedding venue at 117 Caddo St in downtown Ardmore’s Historic Depot District. The property combines event areas with flexible supporting spaces, including a commercial kitchen, and includes popsicle and kitchen equipment along with event venue staging inventory. A center walkway connects the spaces from the street to a private rear courtyard.
The offering includes two additional lots west of the venue, together measuring approximately 100’ x 90’, providing on-site parking in addition to street parking. The building is estimated to date to 1909 and features custom metal awnings, door handles, light fixtures, and other period-oriented improvements. Seven bathrooms serve the combined spaces, while each unit has center HVAC and City of Ardmore water, sewer, and trash services. The venue is across from Cafe Alley and next door south of Dew Drop Inn.
The offering includes two additional lots west of the venue, together measuring approximately 100’ x 90’, providing on-site parking in addition to street parking. The building is estimated to date to 1909 and features custom metal awnings, door handles, light fixtures, and other period-oriented improvements. Seven bathrooms serve the combined spaces, while each unit has center HVAC and City of Ardmore water, sewer, and trash services. The venue is across from Cafe Alley and next door south of Dew Drop Inn.
Key Highlights
- Renovated historic building estimated to have been built in 1909
- Two additional lots west of the venue total approximately 100’ x 90’ for on‑site parking
- Commercial kitchen, popsicle and kitchen equipment, and event staging inventory included
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
$116,002
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
8.29%
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%
$2,320,040
$2.3M
Cap Rate 7%
$1,657,171
$1.7M
Cap Rate 9%
$1,288,911
$1.3M
Market Conditions
NOI Build-Up for 8,698 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
$184.7K $21.24/SF
− Vacancy
−$19.0K −$2.19/SF
EGI
$165.7K $19.05/SF
− OpEx
−$49.7K −$5.72/SF
NOI
$116.0K $13.34/SF
Area
Carter County, OK
Vacancy
10.30%
Lease Rate
$21.24 /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%
$2,320,040
Cap Rate 7%
$1,657,171
Cap Rate 9%
$1,288,911
Alternative Uses
Best Use
Industrial
$1.66M
$1.45M – $1.93M
NOI $116,002 @ 7.0% cap · market cap 8.29%
Second Best
Specialty Retail
$1.54M
$1.35M – $1.79M
NOI $107,677 @ 7.0% cap · market cap 7.69%
Theoretical Best
Office A
$2.23M
$1.95M – $2.60M
NOI $156,146 @ 7.0% cap · market cap 11.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
889
Businesses Nearby
Explore this area
Business Placement
Demographics for 73401, OK
36,744
Population
16,349
Households
2.2
Avg Household Size
41
Median Age
23%
College-Educated
88%
High-School Grad
351.5 sq mi
ZIP Area
105
Density / Sq Mi
$60,288
Median Household Income
$39,005
Median Earnings
$960
Median Rent
$174,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Wedding venue - Historic event property with flexible spaces, a commercial kitchen, private courtyard, and additional lots for on-site parking.
Where is this wedding venue located?
The property is located at 117 Caddo St Ardmore, OK.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Renovated historic building estimated to have been built in 1909; Two additional lots west of the venue total approximately 100’ x 90’ for on‑site parking; Commercial kitchen, popsicle and kitchen equipment, and event staging inventory included
