Storefront Property with
For Sale
$405,000
122 N Main St, Sand Springs, OK 74063
Separate HVAC systems serve the front and rear areas, supporting flexible commercial operations.
Property Size3,360 SF
Price / SF$120.54
Days on Market15
Property Features for 122 N Main St
General Information
Standard status
Active
Size
3,360 SF
Building Details
Year Built
1931
Listing Agency:
Keller Williams Advantage
(918) 637-0262
Listed By:
Jill Brewer
Source:
Thewolekgroup
Added: Aug 16
Changed: Aug 29
Last Checked: Aug 29 at 4:25PM
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 3,360-square-foot storefront property at 122 N Main St includes a retail-oriented layout with four built-in dressing rooms, substantial storage, and a full kitchen and bathroom. A firewall supports potential live/work use, while existing plumbing allows for additional restroom installations. Two HVAC systems separately serve the front and back portions of the building.
The property sits in Downtown Sand Springs along Main Street, with access to Highway 412 and visibility from the highway corridor. Rear alley access provides additional parking and service flexibility. Its current retail configuration and existing kitchen, plumbing, and dressing-room improvements support a range of commercial applications, including office, restaurant, salon, retail, and mixed-use operations.
The property sits in Downtown Sand Springs along Main Street, with access to Highway 412 and visibility from the highway corridor. Rear alley access provides additional parking and service flexibility. Its current retail configuration and existing kitchen, plumbing, and dressing-room improvements support a range of commercial applications, including office, restaurant, salon, retail, and mixed-use operations.
Key Highlights
- 3,360 SF storefront property built in 1931
- Full kitchen, full bathroom, and plumbing for additional restrooms
- Four built‑in dressing rooms with abundant storage
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
$34,222
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
8.45%
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%
$684,440
$684.4K
Cap Rate 7%
$488,886
$488.9K
Cap Rate 9%
$380,244
$380.2K
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
$50.4K $15.00/SF
− Vacancy
−$1.5K −$0.45/SF
EGI
$48.9K $14.55/SF
− OpEx
−$14.7K −$4.36/SF
NOI
$34.2K $10.18/SF
Area
Tulsa County, OK
Vacancy
3.00%
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%
$684,440
Cap Rate 7%
$488,886
Cap Rate 9%
$380,244
Alternative Uses
Best Use
Retail
$488.9K
$427.8K – $570.4K
NOI $34,222 @ 7.0% cap · market cap 8.45%
Second Best
Mixed Use
$437.4K
$382.7K – $510.3K
NOI $30,618 @ 7.0% cap · market cap 7.56%
Theoretical Best
Office A
$757.3K
$662.6K – $883.5K
NOI $53,008 @ 7.0% cap · market cap 13.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
837
Businesses Nearby
19k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 51%
Home Improvements & Furnishings 49%
Taco Bueno
Dining
9,653 visits/mo
0.4 miles
Harbor Freight Tools
Home Improvements & Furnishings
9,319 visits/mo
0.5 miles
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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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 - Separate HVAC systems serve the front and rear areas, supporting flexible commercial operations.
Where is this storefront property located?
The property is located at 122 N Main St Sand Springs, OK.
What is the asking price?
The asking price for this property is $405,000.
What are key features of this property?
This property features: 3,360 SF storefront property built in 1931; Full kitchen, full bathroom, and plumbing for additional restrooms; Four built‑in dressing rooms with abundant storage
