Downtown Retail
For Sale
Contact for pricing
118 Main Street, Noble, OK 73068
A 1930-built commercial space with C-1 zoning along U.S. Highway 77 in Noble.
Property Size1,663 SF
Price / SF$144.32
Days on Market144
Property Features for 118 Main Street
General Information
Standard status
Active
Size
1,663 SF
Class
C
Property subtype
Retail
Zoning
C-1
Investment Type
Redevelopment
Additional Details
Traffic Count
14,000 vehicles/day
Building Details
Year Built
1930
Stories
2
Listing Agency:
EquiVista Realty
Listed By:
Crystal Givens · License #200433
Source:
Crexi
Added: Apr 9
Changed: Aug 30
Last Checked: Aug 30 at 4:05AM
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 EquiVista Realty
Investment Insights
Based on property information with market context.
This 1,663-square-foot retail space dates to 1930 and carries C-1 zoning. The property is situated in downtown Noble, offering an established commercial setting for retail use and potential repositioning within the existing building footprint.
U.S. Highway 77 provides the property’s primary exposure, with approximately 14,000 vehicles traveling the corridor each day. The surrounding trade area includes new development anchored by Lowe's, along with recent openings from McDonald's, Scooter's Coffee, and Smoking Joe's BBQ. Noble is also located near Norman, Oklahoma.
U.S. Highway 77 provides the property’s primary exposure, with approximately 14,000 vehicles traveling the corridor each day. The surrounding trade area includes new development anchored by Lowe's, along with recent openings from McDonald's, Scooter's Coffee, and Smoking Joe's BBQ. Noble is also located near Norman, Oklahoma.
Key Highlights
- 1,663‑square‑foot retail space
- Built in 1930
- C‑1 zoning
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
$16,588
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
6.91%
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%
$331,760
$331.8K
Cap Rate 7%
$236,971
$237.0K
Cap Rate 9%
$184,311
$184.3K
Market Conditions
NOI Build-Up for 1,663 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
$24.9K $15.00/SF
− Vacancy
−$1.2K −$0.75/SF
EGI
$23.7K $14.25/SF
− OpEx
−$7.1K −$4.27/SF
NOI
$16.6K $9.98/SF
Area
Cleveland County, OK
Vacancy
5.00%
Lease Rate
$15.00 /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%
$331,760
Cap Rate 7%
$236,971
Cap Rate 9%
$184,311
Alternative Uses
Best Use
Retail
$237.0K
$207.4K – $276.5K
NOI $16,588 @ 7.0% cap · market cap 6.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$408.9K
$357.8K – $477.1K
NOI $28,626 @ 7.0% cap · market cap 11.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
259
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 Retail 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?
Retail space - A 1930-built commercial space with C-1 zoning along U.S. Highway 77 in Noble.
Where is this retail space located?
The property is located at 118 Main Street Noble, OK.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: 1,663‑square‑foot retail space; Built in 1930; C‑1 zoning
