Restaurant-Ready Retail
For Sale
$630,000
Pending
115 N Main St, Broken Arrow, OK 74012
Retail/commercial space with a customer seating area, dedicated food prep, and back-of-house kitchen support features.
Property Size3,000 SF
Days on Market46
Property Features for 115 N Main St
General Information
Standard status
Pending
Size
3,000 SF
Additional Details
Grease Trap
Yes
Building Details
Year Built
2012
Listing Agency:
Pennington & Assoc Realtors
Listed By:
Tina Bell · License #180357
(918) 853-2412
Source:
Accentrealtors
Added: Jul 20
Changed: Aug 13
Last Checked: Sep 1 at 9:26PM
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 Pennington & Assoc Realtors
Investment Insights
Based on property information with market context.
This retail/commercial space was previously operated as an ice cream shop and is laid out to support food and beverage concepts. The interior includes a welcoming customer/dining seating area, dedicated food prep space, and a commercial kitchen area located down the hall. Additional space includes a private party/event room and storage with convenient garage-door access for deliveries and operations.
The space also features practical existing improvements for food service, including a commercial refrigerator, public restroom, a three-compartment sink, and a grease trap. The property is located at 115 N Main St in Broken Arrow’s Rose District, where the public remarks cite strong pedestrian activity, visibility, and convenient access to surrounding neighborhoods and major roadways, along with nearby shopping and dining.
A turnkey interior configuration is already in place for the right user, with kitchen and back-of-house support positioned for day-to-day food operations.
The space also features practical existing improvements for food service, including a commercial refrigerator, public restroom, a three-compartment sink, and a grease trap. The property is located at 115 N Main St in Broken Arrow’s Rose District, where the public remarks cite strong pedestrian activity, visibility, and convenient access to surrounding neighborhoods and major roadways, along with nearby shopping and dining.
A turnkey interior configuration is already in place for the right user, with kitchen and back-of-house support positioned for day-to-day food operations.
Key Highlights
- 2012‑built retail/commercial space with 3,000 ± SF
- Flexible interior layout with customer/dining seating, dedicated food prep, and a commercial kitchen area down the hall
- Includes a private party/event room and a storage area
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
$33,396
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
5.30%
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%
$667,920
$667.9K
Cap Rate 7%
$477,086
$477.1K
Cap Rate 9%
$371,067
$371.1K
Market Conditions
NOI Build-Up for 3,000 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
$47.9K $15.96/SF
− Vacancy
−$3.4K −$1.12/SF
EGI
$44.5K $14.84/SF
− OpEx
−$11.1K −$3.71/SF
NOI
$33.4K $11.13/SF
Area
Broken Arrow, OK
Vacancy
7.00%
Lease Rate
$15.96 /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%
$667,920
Cap Rate 7%
$477,086
Cap Rate 9%
$371,067
Alternative Uses
Best Use
Specialty Retail
$477.1K
$417.5K – $556.6K
NOI $33,396 @ 7.0% cap · market cap 5.30%
Second Best
Retail
$438.1K
$383.3K – $511.1K
NOI $30,667 @ 7.0% cap · market cap 4.87%
Theoretical Best
Office A
$701.7K
$614.0K – $818.7K
NOI $49,121 @ 7.0% cap · market cap 7.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Grease trap
Location Intelligence
Trade Area within ½ mile
1,115
Businesses Nearby
Explore this area
Business Placement
Demographics for 74012, OK
63,918
Population
26,069
Households
2.5
Avg Household Size
37
Median Age
34%
College-Educated
94%
High-School Grad
24.8 sq mi
ZIP Area
2,577
Density / Sq Mi
$80,079
Median Household Income
$44,321
Median Earnings
$1,211
Median Rent
$223,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail/commercial space with a customer seating area, dedicated food prep, and back-of-house kitchen support features.
Where is this retail space located?
The property is located at 115 N Main St Broken Arrow, OK.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: 2012‑built retail/commercial space with 3,000 ± SF; Flexible interior layout with customer/dining seating, dedicated food prep, and a commercial kitchen area down the hall; Includes a private party/event room and a storage area
