Restaurant with Large Parking
For Sale
Contact for pricing
6616 N Western Ave, Oklahoma City, OK
Single tenant restaurant with ample parking in Nichols Hills.
Property Size6,035 SF
Lot Size2.16 Acres
Price / SF$347.97
Days on Market1544
Property Features for 6616 N Western Ave
General Information
Standard status
Active
Size
6,035 SF
Lot size
2.16 Acres
Property subtype
RETAIL
Listing Agency:
Creek Price Edwards and Company - Oklahoma City
(405) 843-7474
Listed By:
Paul Ravencraft · License #OK 078872
(405) 226-5467
Source:
Moodyscre
Added: Jul 27, 2022
Changed: Oct 13
Last Checked: Oct 16 at 9:25AM
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 Creek Price Edwards and Company - Oklahoma City
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This single-tenant restaurant property includes a 32,025 square foot (MOL) parking lot, offering a parking ratio of 14 per 1000. It is situated in Nichols Hills, benefiting from traffic counts of 19,603 cars per day on Western Avenue and 14,325 cars per day on NW 63rd Street. The property is located one mile from Interstate 77 and Interstate 44 and is surrounded by multiple retailers. The building size is 6,035 square feet.
Key Highlights
- Single tenant restaurant property
- Large 32,025 sf (mol) parking lot
- Located in nichols hills
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$144,478
Cap Rate
6.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,889,560
$2.9M
Cap Rate 7%
$2,063,971
$2.1M
Cap Rate 9%
$1,605,311
$1.6M
Market Conditions
NOI Build-Up for 6,035 SF
Gross rent
$202.8K $33.60/SF
− Vacancy
−$10.1K −$1.68/SF
EGI
$192.6K $31.92/SF
− OpEx
−$48.2K −$7.98/SF
NOI
$144.5K $23.94/SF
Area
Oklahoma City, OK
Vacancy
5.00%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,889,560
Cap Rate 7%
$2,063,971
Cap Rate 9%
$1,605,311
Alternative Uses
Best Use
Specialty Retail
$2.06M
$1.81M – $2.41M
NOI $144,478 @ 7.0% cap · market cap 6.88%
Second Best
Retail
$1.70M
$1.49M – $1.99M
NOI $119,131 @ 7.0% cap · market cap 5.67%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
911
Businesses Nearby
72k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 54%
Dining 41%
Home Improvements & Furnishings 3%
Electronics 2%
Braum's Ice Cream & Dairy Stores
Dining
18,436 visits/mo
0.3 miles
7-Eleven
Shops & Services
13,322 visits/mo
0.1 miles
Dollar General
Shops & Services
7,379 visits/mo
0.4 miles
EZPAWN
Shops & Services
6,936 visits/mo
0.4 miles
Church's Chicken
Dining
5,000 visits/mo
0.4 miles
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Oklahoma City, OK
Frequently Asked Questions
What type of property is this?
Restaurant - Single tenant restaurant with ample parking in Nichols Hills.
Where is this restaurant located?
The property is located at 6616 N Western Ave Oklahoma City, OK.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Single tenant restaurant property; Large 32,025 sf (mol) parking lot; Located in nichols hills
