Freestanding Restaurant
For Sale
$1,500,000
1201 S Meridian Avenue, Oklahoma City, OK 73108
Existing dining, service, bar, and commercial kitchen infrastructure support a range of restaurant concepts and other approved uses.
Property Size7,989 SF
Lot Size1.26 Acres
Days on Market13
Property Features for 1201 S Meridian Avenue
General Information
Standard status
Active
Size
7,989 SF
Lot size
1.26 Acres
Property subtype
Restaurant
Zoning
I-2
Site & Location
Pylon Signage
Yes
Highway Access
Yes
Additional Details
Furnished
Yes
Asking Price
$1,500,000
Equipment Included
Yes
Taxes and HOA fees
Annual Taxes
$11,979
Building Details
Building Size
7,989 SF
Year Built
1977
Buildings
1
Listing Agency:
Copper Creek Real Estate
(405) 808-4913
Listed By:
Rosa Spotts · License #150673
Source:
Stetsonbentley
Added: Aug 11
Changed: Aug 17
Last Checked: Aug 22 at 10:29AM
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 Copper Creek Real Estate
Investment Insights
Based on property information with market context.
The freestanding property contains nearly 8,000 SF on approximately 1.26 acres, with an established restaurant-oriented layout that includes dining areas, a bar, buffet and serving stations, and commercial kitchen infrastructure. Equipment and furnishings are present, subject to verification of what will convey. Built in 1977, the building also offers a large parking field with 100+ spaces and pole signage along S Meridian Avenue.
I-2 Moderate Industrial zoning broadens the potential beyond restaurant use, subject to zoning requirements and City approval. The property is positioned for quick access to I-40, I-44, and Will Rogers International Airport, within an airport, hotel, and business corridor. Existing improvements may accommodate restaurant, banquet, entertainment, showroom, retail, service, office, training, church, assembly, or other commercial concepts, with permitted uses and site information to be verified by the buyer or tenant.
I-2 Moderate Industrial zoning broadens the potential beyond restaurant use, subject to zoning requirements and City approval. The property is positioned for quick access to I-40, I-44, and Will Rogers International Airport, within an airport, hotel, and business corridor. Existing improvements may accommodate restaurant, banquet, entertainment, showroom, retail, service, office, training, church, assembly, or other commercial concepts, with permitted uses and site information to be verified by the buyer or tenant.
Key Highlights
- Nearly 8,000 SF freestanding building on approximately 1.26 acres
- Restaurant layout with dining areas, bar, buffet and serving stations
- Commercial kitchen infrastructure, equipment, and furnishings in place; inclusion to be verified
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
$48,569
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
3.24%
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%
$971,380
$971.4K
Cap Rate 7%
$693,843
$693.8K
Cap Rate 9%
$539,656
$539.7K
Market Conditions
NOI Build-Up for 7,989 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
$71.9K $9.00/SF
− Vacancy
−$2.5K −$0.32/SF
EGI
$69.4K $8.69/SF
− OpEx
−$20.8K −$2.61/SF
NOI
$48.6K $6.08/SF
Area
Oklahoma City, OK
Vacancy
3.50%
Lease Rate
$9.00 /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%
$971,380
Cap Rate 7%
$693,843
Cap Rate 9%
$539,656
Alternative Uses
Best Use
Specialty Retail
$2.73M
$2.39M – $3.19M
NOI $191,257 @ 7.0% cap · market cap 12.75%
Second Best
Industrial
$693.8K
$607.1K – $809.5K
NOI $48,569 @ 7.0% cap · market cap 3.24%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
749
Businesses Nearby
159k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 57%
Hotels & Casinos 26%
Apparel 14%
Home Improvements & Furnishings 4%
Cracker Barrel Old Country Store
Dining
26,259 visits/mo
0.4 miles
Boot Barn
Apparel
22,124 visits/mo
0.2 miles
Whataburger
Dining
19,587 visits/mo
0.1 miles
IHOP
Dining
12,200 visits/mo
0.4 miles
Chili's Grill & Bar
Dining
10,542 visits/mo
0.4 miles
Demographics for 73108, OK
14,451
Population
6,221
Households
2.3
Avg Household Size
30
Median Age
4%
College-Educated
56%
High-School Grad
7.6 sq mi
ZIP Area
1,901
Density / Sq Mi
$35,278
Median Household Income
$31,017
Median Earnings
$799
Median Rent
$75,000
Median Home Value
Market
Vacancy Rate% for Retail in Oklahoma City, OK
Questions? Ask Rey
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Similar Off Market Nearby
- Pickle's Steakhouse — 1201 S Meridian Ave, Oklahoma City, OK 73108
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Existing dining, service, bar, and commercial kitchen infrastructure support a range of restaurant concepts and other approved uses.
Where is this conventional restaurant located?
The property is located at 1201 S Meridian Avenue Oklahoma City, OK.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Nearly 8,000 SF freestanding building on approximately 1.26 acres; Restaurant layout with dining areas, bar, buffet and serving stations; Commercial kitchen infrastructure, equipment, and furnishings in place; inclusion to be verified
