Retail/Office Building on Hard
For Sale
$2,149,000
200 N Armstrong St, Bixby, OK 74008
Located on a hard corner with strong traffic counts, suitable for retail, restaurant, or office use.
Property Size10,000 SF
Days on Market62
Property Features for 200 N Armstrong St
General Information
Standard status
Active
Size
10,000 SF
Property subtype
Retail
Additional Details
Road Access
Yes
Building Details
Building Size
10,000 SF
Year Built
1918
Listing Agency:
McGraw Commercial Properties | Tulsa
(972) 814-8093
Listed By:
Andrew Leach · License #200250
(972) 814-8093
Source:
Mcgrawcp
Added: Jun 24
Changed: Aug 14
Last Checked: Aug 23 at 3:55AM
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 McGraw Commercial Properties | Tulsa
Investment Insights
Based on property information with market context.
200 N Armstrong St in Bixby, OK is positioned on a hard corner at N Armstrong Street and W Needles Avenue, designed to serve multiple commercial uses including retail, restaurant, or office. The property is described as offering excellent signage and exposure, with convenient access from 151st and Memorial.
The surrounding area is noted for active commercial development, including a nearby project completed in 2025 featuring 132 upscale apartment units. The site is also stated to be directly next to Spartan Square, a $20 million development that will include a hotel and convention center.
For sale, the listing emphasizes flexibility for investors, owner-users, or tenants seeking visibility in a high-demand market.
The surrounding area is noted for active commercial development, including a nearby project completed in 2025 featuring 132 upscale apartment units. The site is also stated to be directly next to Spartan Square, a $20 million development that will include a hotel and convention center.
For sale, the listing emphasizes flexibility for investors, owner-users, or tenants seeking visibility in a high-demand market.
Key Highlights
- 1918‑built property on the hard corner of N Armstrong St and W Needles Ave
- Hard‑corner site with strong traffic counts and surrounding commercial activity
- On‑site suitability for retail, restaurant, or office use
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
$130,950
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
6.09%
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%
$2,619,000
$2.6M
Cap Rate 7%
$1,870,714
$1.9M
Cap Rate 9%
$1,455,000
$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
$180.0K $18.00/SF
− Vacancy
−$5.4K −$0.54/SF
EGI
$174.6K $17.46/SF
− OpEx
−$43.7K −$4.37/SF
NOI
$131.0K $13.10/SF
Area
Tulsa County, OK
Vacancy
3.00%
Lease Rate
$18.00 /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%
$2,619,000
Cap Rate 7%
$1,870,714
Cap Rate 9%
$1,455,000
Alternative Uses
Best Use
Specialty Retail
$1.87M
$1.64M – $2.18M
NOI $130,950 @ 7.0% cap · market cap 6.09%
Second Best
Office B
$1.76M
$1.54M – $2.05M
NOI $123,271 @ 7.0% cap · market cap 5.74%
Theoretical Best
Office A
$2.25M
$1.97M – $2.63M
NOI $157,761 @ 7.0% cap · market cap 7.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
462
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 74008, OK
31,745
Population
12,447
Households
2.6
Avg Household Size
36
Median Age
44%
College-Educated
95%
High-School Grad
74.3 sq mi
ZIP Area
427
Density / Sq Mi
$95,476
Median Household Income
$48,691
Median Earnings
$1,302
Median Rent
$303,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Bixby Flower Basket — 15285 S Memorial Dr, Bixby, OK 74008
Frequently Asked Questions
What type of property is this?
Storefront property - Located on a hard corner with strong traffic counts, suitable for retail, restaurant, or office use.
Where is this storefront property located?
The property is located at 200 N Armstrong St Bixby, OK.
What is the asking price?
The asking price for this property is $2,149,000.
What are key features of this property?
This property features: 1918‑built property on the hard corner of N Armstrong St and W Needles Ave; Hard‑corner site with strong traffic counts and surrounding commercial activity; On‑site suitability for retail, restaurant, or office use
