Building Details

Year built 1973

Floors in Building 1

Listing Agency: Metro Brokers of Ok Connect c***@aol.com Show Phone

Listed By: Sarah Neal · License #157407 Show Phone

Added: Oct 16, 2025 Changed: Sep 28 Last Checked: Sep 28 at 8:06AM

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MLS# 1196383

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Investment Insights

Based on property information with market context.

This storefront property contains a 1,380-square-foot building on a 0.16-acre parcel. The building dates to 1973 and has a newer roof, an HVAC system, and electric cooling.

The site occupies a corner at 132 W Broadway Street in Lexington, Oklahoma. Commercial zoning is identified for the property.

Key Highlights

• Corner parcel at 132 W Broadway Street in Lexington, Oklahoma
• 1,380‑square‑foot building on 0.16 acres
• Commercial zoning

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

$13,766

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

7.28%

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%

$275,320 $275.3K

Cap Rate 7%

$196,657 $196.7K

Cap Rate 9%

$152,956 $153.0K

Market Conditions

NOI Build-Up for 1,380 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

$20.7K $15.00/SF

− Vacancy

−$1.0K −$0.75/SF

EGI

$19.7K $14.25/SF

− OpEx

−$5.9K −$4.27/SF

NOI

$13.8K $9.98/SF

Area

Cleveland County, OK

Vacancy

5.00%

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%

$275,320

Cap Rate 7%

$196,657

Cap Rate 9%

$152,956

Alternative Uses

Best Use

Retail

$196.7K

$172.1K – $229.4K (±1% cap)

NOI $13,766 @ 7.0% cap · market cap 7.28%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$339.4K

$296.9K – $395.9K (±1% cap)

NOI $23,755 @ 7.0% cap · market cap 12.57%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Big Box & Wholesale Store Furniture & Home Goods Storage Facility Hair Salon Kitchen & Bath Showroom HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

119

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 73051, OK

9,541

Population

3,210

Households

3

Avg Household Size

42

Median Age

12%

College-Educated

83%

High-School Grad

126.7 sq mi

ZIP Area

75

Density / Sq Mi

$65,074

Median Household Income

$37,857

Median Earnings

$934

Median Rent

$152,900

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Storefront property - Commercial zoning and electric cooling support a compact retail property.

Where is this storefront property located?

The property is located at 132 W Broadway Street Lexington, OK.

What is the asking price?

The asking price for this property is $189,000.

What are key features of this property?

This property features: Corner parcel at 132 W Broadway Street in Lexington, Oklahoma; 1,380‑square‑foot building on 0.16 acres; Commercial zoning