Corner Storefront
For Sale
$189,000
132 W Broadway Street, Lexington, OK 73051
The building includes a newer roof and a large HVAC system.
Property Size1,380 SF
Days on Market312
Property Features for 132 W Broadway Street
General Information
Standard status
Active
Size
1,380 SF
Property subtype
Commercial
Zoning
Commercial
Additional Details
Corner Location
Yes
Building Details
Building Size
1,380 SF
Year Built
1973
Stories
1
Listing Agency:
Metro Brokers of Ok Connect
(405) 701-3110
Listed By:
Sarah Neal · License #157407
(405) 701-3110
Source:
Jarmanrealtyok
Added: Oct 16, 2025
Changed: Aug 22
Last Checked: Aug 22 at 1:57PM
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 Metro Brokers of Ok Connect
Investment Insights
Based on property information with market context.
This storefront property occupies a corner commercial lot at 132 W Broadway Street in Lexington, Oklahoma. The building was constructed in 1973 and includes a newer roof along with a large HVAC system for interior climate control.
The property is designated Commercial under the stated zoning classification. Its corner configuration and storefront format provide a defined commercial presence at the site, while the existing building improvements offer an established physical foundation for continued use or repositioning.
The property is designated Commercial under the stated zoning classification. Its corner configuration and storefront format provide a defined commercial presence at the site, while the existing building improvements offer an established physical foundation for continued use or repositioning.
Key Highlights
- Corner commercial lot at 132 W Broadway Street
- Commercial zoning designation
- Building constructed in 1973
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
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
NOI $23,755 @ 7.0% cap · market cap 12.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - The building includes a newer roof and a large HVAC system.
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 commercial lot at 132 W Broadway Street; Commercial zoning designation; Building constructed in 1973
