Two-Story Office
For Sale
$1,700,000
127 W Main St, Ardmore, OK 73401
Downtown corner property with flexible office layouts, abundant daylight, fiber connectivity, and restaurant-ready building infrastructure.
Property Size10,000 SF
Price / SF$170
Days on Market40
Property Features for 127 W Main St
General Information
Standard status
Active
Size
10,000 SF
Elevators
No
Additional Details
Sprinkler System
Yes
Office Units
17
Amenities
conference room
large open area
water filtration system
CAT-6 wiring
fiber optic internet
ADA compliant
large windows
new TPO roof
6-5 ton A/C units
Building Details
Year Built
2020
Buildings
1
Stories
2
Building Size
10,000 SF
Abandoned
No
Listing Agency:
Gray Real Estate Elite, Inc.
(580) 399-4941
Listed By:
Julie Taylor · License #174921
Source:
Cheathamrealty
Added: Jul 20
Changed: Aug 28
Last Checked: Aug 28 at 12:58PM
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 Gray Real Estate Elite, Inc.
Investment Insights
Based on property information with market context.
This two-level office property at 127 W Main St. contains 10,000 square feet with a detailed office configuration. The lower floor has seven offices, a conference room, and two restrooms; the upper level adds 10 offices, a large open area, and three restrooms. Large 4x8 windows bring natural light throughout the building. CAT-6 wiring, fiber optic internet, six 5-ton A/C units, a TPO roof installed in 2021, a fire suppression system, and a water filtration system are in place. The building is ADA compliant and includes elevator wiring for a future installation. Interior walls can be relocated for customization, and the structure retains basic infrastructure for restaurant use.
The property occupies a corner lot in downtown Ardmore’s historic district, with on-street parking and access to several shared lots serving nearby businesses. It is a few blocks from the Carter County Courthouse and Ardmore Municipal Court. The building was constructed to reflect the architectural character of the Depot District.
The property occupies a corner lot in downtown Ardmore’s historic district, with on-street parking and access to several shared lots serving nearby businesses. It is a few blocks from the Carter County Courthouse and Ardmore Municipal Court. The building was constructed to reflect the architectural character of the Depot District.
Key Highlights
- 10,000 SF two‑story office building with 17 offices, conference room, open area, and 5 restrooms
- 35 large 4x8 windows provide natural light throughout the building
- Six 5‑ton A/C units, 2021 TPO roof, fire suppression, and water filtration system
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
$132,840
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
7.81%
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%
$2,656,800
$2.7M
Cap Rate 7%
$1,897,714
$1.9M
Cap Rate 9%
$1,476,000
$1.5M
Market Conditions
NOI Build-Up for 10,000 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
$216.0K $21.60/SF
− Vacancy
−$38.9K −$3.89/SF
EGI
$177.1K $17.71/SF
− OpEx
−$44.3K −$4.43/SF
NOI
$132.8K $13.28/SF
Area
Carter County, OK
Vacancy
18.00%
Lease Rate
$21.60 /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%
$2,656,800
Cap Rate 7%
$1,897,714
Cap Rate 9%
$1,476,000
Alternative Uses
Best Use
Office B
$1.90M
$1.66M – $2.21M
NOI $132,840 @ 7.0% cap · market cap 7.81%
Second Best
Specialty Retail
$1.77M
$1.55M – $2.06M
NOI $123,795 @ 7.0% cap · market cap 7.28%
Theoretical Best
Office A
$2.56M
$2.24M – $2.99M
NOI $179,520 @ 7.0% cap · market cap 10.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
17
Office units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
989
Businesses Nearby
Explore this area
Business Placement
Demographics for 73401, OK
36,744
Population
16,349
Households
2.2
Avg Household Size
41
Median Age
23%
College-Educated
88%
High-School Grad
351.5 sq mi
ZIP Area
105
Density / Sq Mi
$60,288
Median Household Income
$39,005
Median Earnings
$960
Median Rent
$174,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Downtown corner property with flexible office layouts, abundant daylight, fiber connectivity, and restaurant-ready building infrastructure.
Where is this office building located?
The property is located at 127 W Main St Ardmore, OK.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 10,000 SF two‑story office building with 17 offices, conference room, open area, and 5 restrooms; 35 large 4x8 windows provide natural light throughout the building; Six 5‑ton A/C units, 2021 TPO roof, fire suppression, and water filtration system
