Storefront Property with
For Sale
$450,000
122 N Main Street, Sand Springs, OK 74063
Main Street commercial building with dual HVAC, rear alley access, and potential for retail, office, restaurant, or salon use.
Property Size3,360 SF
Days on Market14
Property Features for 122 N Main Street
General Information
Standard status
Active
Size
3,360 SF
Property subtype
Commercial
Zoning
CH
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$4,213
Amenities
two HVAC systems
full kitchen
full bathroom
four built-in dressing rooms
abundant storage
rear alley access with additional parking
firewall
Building Details
Building Size
3,360 SF
Year Built
1931
Listing Agency:
Keller Williams Advantage
(918) 637-0262
Listed By:
Jill Brewer
(918) 637-0262
Source:
Eufaulaproperties
Added: Jul 28
Changed: Aug 10
Last Checked: Aug 10 at 6:41AM
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 Keller Williams Advantage
Investment Insights
Based on property information with market context.
Built in 1931, this Main Street storefront is currently operating as a retail property and includes a full kitchen, full bathroom, four built-in dressing rooms, and substantial storage. Two HVAC systems serve the front and rear portions of the building. A firewall supports potential live-work use, while existing plumbing may accommodate additional restrooms. The property is zoned CH.
The building sits in Downtown Sand Springs at 122 N Main Street, with frontage along the route of the city's nighttime Christmas parade and the Herbal Affair. Highway 412 is conveniently accessible and provides additional highway visibility. Rear alley access and additional parking support daily operations. The property may accommodate retail, office, restaurant, salon, mixed-use, and live-work applications.
The building sits in Downtown Sand Springs at 122 N Main Street, with frontage along the route of the city's nighttime Christmas parade and the Herbal Affair. Highway 412 is conveniently accessible and provides additional highway visibility. Rear alley access and additional parking support daily operations. The property may accommodate retail, office, restaurant, salon, mixed-use, and live-work applications.
Key Highlights
- 1931‑built Main Street storefront in Downtown Sand Springs
- Zoned CH with potential retail, office, restaurant, salon, mixed‑use, and live‑work applications
- Two HVAC systems serve the front and rear sections of the building
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
$41,419
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
9.20%
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%
$828,380
$828.4K
Cap Rate 7%
$591,700
$591.7K
Cap Rate 9%
$460,211
$460.2K
Market Conditions
NOI Build-Up for 3,360 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
$62.9K $18.72/SF
− Vacancy
−$7.7K −$2.28/SF
EGI
$55.2K $16.44/SF
− OpEx
−$13.8K −$4.11/SF
NOI
$41.4K $12.33/SF
Area
Tulsa County, OK
Vacancy
12.20%
Lease Rate
$18.72 /SF/Yr
Expense Ratio
25.00%
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%
$828,380
Cap Rate 7%
$591,700
Cap Rate 9%
$460,211
Alternative Uses
Best Use
Office B
$591.7K
$517.7K – $690.3K
NOI $41,419 @ 7.0% cap · market cap 9.20%
Second Best
Retail
$488.9K
$427.8K – $570.4K
NOI $34,222 @ 7.0% cap · market cap 7.60%
Theoretical Best
Office A
$757.3K
$662.6K – $883.5K
NOI $53,008 @ 7.0% cap · market cap 11.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
837
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Sand Springs Flowers — 214 N McKinley Ave, Sand Springs, OK 74063
Frequently Asked Questions
What type of property is this?
Storefront property - Main Street commercial building with dual HVAC, rear alley access, and potential for retail, office, restaurant, or salon use.
Where is this storefront property located?
The property is located at 122 N Main Street Sand Springs, OK.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 1931‑built Main Street storefront in Downtown Sand Springs; Zoned CH with potential retail, office, restaurant, salon, mixed‑use, and live‑work applications; Two HVAC systems serve the front and rear sections of the building
