Leased Mixed-Use
For Sale
$850,000
118 N Main St, Sand Springs, OK 74063
Two commercial units and four residences occupy this centrally located property.
Property Size8,100 SF
Price / SF$104.94
Days on Market47
Property Features for 118 N Main St
General Information
Standard status
Active
Size
8,100 SF
Occupancy
100%
Additional Details
Utilities to Site
Yes
Sprinkler System
Yes
Multifamily Units
4
Amenities
sprinkler system
security cameras
digital lock systems (lofts)
hardwoods
exposed brick
open concept residential units
Building Details
Year Built
1925
Buildings
1
Tenancy
Multi
Abandoned
No
Listing Agency:
Skyline Realty, LLC
Listed By:
Ricky L Powell · License #157203
(918) 606-8006
Source:
Cheathamrealty
Added: Sep 1
Changed: Oct 13
Last Checked: Oct 7 at 1:43PM
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 Skyline Realty, LLC
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Investment Insights
Based on property information with market context.
This 8,100-square-foot mixed-use building, constructed in 1925, combines two ground-floor commercial units with four residential units above. The property is fully leased, with gas and electric service sub-metered by tenant. Residential interiors include hardwood flooring, exposed brick, and open-concept layouts.
Building systems and security features include a sprinkler system, security cameras, and digital lock systems serving the lofts. The A/C unit was replaced in 2023, and the property also has newer water heaters. Located at 118 N Main St in Downtown Sand Springs, the building offers a vertically integrated commercial and residential configuration.
Building systems and security features include a sprinkler system, security cameras, and digital lock systems serving the lofts. The A/C unit was replaced in 2023, and the property also has newer water heaters. Located at 118 N Main St in Downtown Sand Springs, the building offers a vertically integrated commercial and residential configuration.
Key Highlights
- Fully leased mixed‑use property with 2 commercial units and 4 residential units
- 8,100 square feet on a 1925‑built structure
- Gas and electric service sub‑metered for each tenant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,811
Cap Rate
8.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,476,220
$1.5M
Cap Rate 7%
$1,054,443
$1.1M
Cap Rate 9%
$820,122
$820.1K
Market Conditions
NOI Build-Up for 8,100 SF
Gross rent
$131.2K $16.20/SF
− Vacancy
−$13.1K −$1.62/SF
EGI
$118.1K $14.58/SF
− OpEx
−$44.3K −$5.47/SF
NOI
$73.8K $9.11/SF
Area
Tulsa County, OK
Vacancy
10.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,476,220
Cap Rate 7%
$1,054,443
Cap Rate 9%
$820,122
Alternative Uses
Best Use
Retail
$1.18M
$1.03M – $1.37M
NOI $82,499 @ 7.0% cap · market cap 9.71%
Second Best
Mixed Use
$1.05M
$922.6K – $1.23M
NOI $73,811 @ 7.0% cap · market cap 8.68%
Theoretical Best
Office A
$1.83M
$1.60M – $2.13M
NOI $127,786 @ 7.0% cap · market cap 15.03%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Sprinkler system
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
837
Businesses Nearby
Explore this area
Business Placement
Demographics for 74063, OK
30,630
Population
12,823
Households
2.4
Avg Household Size
42
Median Age
24%
College-Educated
91%
High-School Grad
129.8 sq mi
ZIP Area
236
Density / Sq Mi
$71,569
Median Household Income
$41,815
Median Earnings
$989
Median Rent
$187,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two commercial units and four residences occupy this centrally located property.
Where is this mixed-use property located?
The property is located at 118 N Main St Sand Springs, OK.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Fully leased mixed‑use property with 2 commercial units and 4 residential units; 8,100 square feet on a 1925‑built structure; Gas and electric service sub‑metered for each tenant
