Renovated Historic Wedding
For Sale
$1,400,000
117 Caddo Street, Ardmore, OK 73401
COMMERCIAL - Ardmore, OK
Property Size9,348 SF
Lot Size0.23 Acres
Price / SF$160.96
Days on Market222
Property Features for 117 Caddo Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C1
Interior features
Display Window, Equipment Remarks, High Speed Internet, Internal Expansion Area, Inventory Remarks, Public Restrooms
Exterior features
Sidewalk
Subdivision
Ardmore City
Elementary school district
Ardmore - Sch Dist (AD2)
Middle school district
Ardmore - Sch Dist (AD2)
High school district
Ardmore - Sch Dist (AD2)
Directions
Take Main Street to Caddo Street, take Caddo Street left, go 2 blocks and property is on the left.
Standard status
Active
APN
0010-00-305-009-0-001-00
Size
8,698 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
0010-00-305-009-0-001-00 - ARDMORE LOTS & BLKS, BLK 305 (FRALEY'S RE-SUB) LOT 9-13 LOT 32 N 10 E 25 (10X25)
Tax Annual Amount
2556
Legal Description
0010-00-305-009-0-001-00 - ARDMORE LOTS & BLKS, BLK 305 (FRALEY'S RE-SUB) LOT 9-13 LOT 32 N 10 E 25 (10X25)
Utilities
Utilities
Cable Available
Heating system
Central
Cooling system
Central Air
Amenities
commercial kitchen
center HVAC
City of Ardmore water
sewer
trash services
private rear courtyard
metal awnings
custom door handles
custom light fixtures
Building Details
Year built
1909
Flooring type
Concrete
Building materials
Brick
Listing Agency:
BaseCamp Realty
(405) 990-7634
Listed By:
Sandra Wells · License #108652
(405) 990-7634
Added: Jan 7
Changed: Aug 4
Last Checked: Aug 17 at 8:06AM
MLS# 2600750
Copyright © 2026 MLS Technology, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This renovated historic brick facility dates to an estimated 1909 and is arranged as an event venue with additional flex areas, including a commercial kitchen. Multiple connected spaces are linked by a central walkway extending from the street to a private rear courtyard. The property includes seven bathrooms, central HVAC, concrete flooring, public restrooms, display windows, and custom metal awnings, door hardware, and light fixtures. Popsicle and kitchen equipment, along with event venue staging inventory, convey with the offering.
Located at 117 Caddo Street in Ardmore’s Historic Depot District, the property sits in Downtown Ardmore across from Cafe Alley and next to Dew Drop Inn. Street parking is supplemented by two additional lots west of the venue, together measuring approximately 100' x 90'. City of Ardmore water, sewer, and trash services support the facility, which is zoned C1.
Located at 117 Caddo Street in Ardmore’s Historic Depot District, the property sits in Downtown Ardmore across from Cafe Alley and next to Dew Drop Inn. Street parking is supplemented by two additional lots west of the venue, together measuring approximately 100' x 90'. City of Ardmore water, sewer, and trash services support the facility, which is zoned C1.
Key Highlights
- Established event venue in Ardmore’s Historic Depot District
- Estimated 1909 construction with renovated historic brick architecture
- Two additional lots provide approximately 100' x 90' for onsite parking
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
Turnkey business
Opportunity
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 Industrial 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?
Wedding venue - C1-zoned venue with a commercial kitchen, courtyard, expandable flex areas, and included event equipment.
Where is this wedding venue located?
The property is located at 117 Caddo Street 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: Established event venue in Ardmore’s Historic Depot District; Estimated 1909 construction with renovated historic brick architecture; Two additional lots provide approximately 100' x 90' for onsite parking
