Brick Storefront with
New
For Sale
$200,000
1302 N Key Boulevard, Midwest City, OK 73110
Commercial Sale, Midwest City, OK
Property Size1,680 SF
Lot Size0.08 Acres
Price / SF$119.05
Days on Market2
Property Features for 1302 N Key Boulevard
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
Commercial
Directions
From SE 15th & Air Depot go East to Key Blvd / Turn South and building is on the south side of the 7-Eleven
Standard status
Active
APN
1302NKey73110
Size
1,680 SF
Lot size
0.08 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1961
Floors in Building
1
Building materials
Brick
Listing Agency:
KING Real Estate Group
(405) 739-0550
Listed By:
Karen King · License #122366
(405) 834-1057
Added: Sep 20
Last Checked: Sep 21 at 8:06AM
MLS# 1250194
Copyright © 2026 MLSOK, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,680-square-foot brick storefront is positioned at the south end of the 7-Eleven building at SE 15th and Key Boulevard. The property has supported salon and art studio operations and includes a mini-split air-conditioning system. The roof was replaced in 2023, while the existing HVAC system is not in working order. The building is offered in as-is condition.
The 0.0815-acre site is zoned Commercial and served by public water and public sewer. Built in 1961, the property provides a compact commercial footprint for an owner-user or operator evaluating a storefront location in Midwest City.
The 0.0815-acre site is zoned Commercial and served by public water and public sewer. Built in 1961, the property provides a compact commercial footprint for an owner-user or operator evaluating a storefront location in Midwest City.
Key Highlights
- 1,680‑square‑foot brick commercial storefront
- Roof replaced in 2023
- Mini‑split air‑conditioning 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
$17,733
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
8.87%
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%
$354,660
$354.7K
Cap Rate 7%
$253,329
$253.3K
Cap Rate 9%
$197,033
$197.0K
Market Conditions
NOI Build-Up for 1,680 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
$28.0K $16.68/SF
− Vacancy
−$2.7K −$1.60/SF
EGI
$25.3K $15.08/SF
− OpEx
−$7.6K −$4.52/SF
NOI
$17.7K $10.56/SF
Area
Oklahoma County, OK
Vacancy
9.60%
Lease Rate
$16.68 /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%
$354,660
Cap Rate 7%
$253,329
Cap Rate 9%
$197,033
Alternative Uses
Best Use
Retail
$253.3K
$221.7K – $295.6K
NOI $17,733 @ 7.0% cap · market cap 8.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$349.9K
$306.2K – $408.2K
NOI $24,494 @ 7.0% cap · market cap 12.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
324
Businesses Nearby
39k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 67%
Apparel 26%
Dining 4%
Home Improvements & Furnishings 3%
7-Eleven
Shops & Services
15,665 visits/mo
0.1 miles
Goodwill
Apparel
10,146 visits/mo
0.2 miles
Family Dollar
Shops & Services
6,956 visits/mo
0.1 miles
Bank Of Oklahoma - Midwest City
Shops & Services
3,685 visits/mo
0.3 miles
Domino's Pizza
Dining
1,548 visits/mo
0.5 miles
Demographics for 73110, OK
33,156
Population
15,826
Households
2.1
Avg Household Size
35
Median Age
20%
College-Educated
91%
High-School Grad
15.5 sq mi
ZIP Area
2,139
Density / Sq Mi
$50,436
Median Household Income
$35,043
Median Earnings
$1,007
Median Rent
$119,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Similar Off Market Nearby
- Florist — midwest city, ok 73110
- Penny and Irene's Flowers & Gifts — 7556 SE 15th St, Midwest City, OK 73110
Frequently Asked Questions
What type of property is this?
Storefront property - Commercial storefront with public water and sewer, a replaced roof, and flexible prior salon and art studio use.
Where is this storefront property located?
The property is located at 1302 N Key Boulevard Midwest City, OK.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: 1,680‑square‑foot brick commercial storefront; Roof replaced in 2023; Mini‑split air‑conditioning system
