Building Details

Building Size 3,415 SF

Year Built 1977

Listing Agency: Creek Commercial Realty, LLC Show Phone

Listed By: Johnny Stradal · License #201657 Show Phone

Source: Thebrokerlist

Added: Feb 18 Changed: Aug 30 Last Checked: Aug 30 at 12:34PM

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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 Creek Commercial Realty, LLC

Investment Insights

Based on property information with market context.

Built in 1977 and remodeled within the last 6 years, this standalone storefront property includes exterior signage and a separate 720 SF building that can serve as storage or a garage. The main building is configured to support retail, restaurant, or medical office use, with the ability to divide the space into two suites.

The property is located on Lakeside Dr. just south of N. May Ave. and W. Hefner Rd., with visibility from May Ave. The corridor sees approximately 16,051 cars per day. On-site parking accommodates customers and employees, while the secondary building adds functional storage or garage capacity.

Key Highlights

• Remodeled within the last 6 years
• Approximately 16,051 cars per day on May Ave.
• Additional 720 SF storage or garage building

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

$48,033

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

6.20%

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%

$960,660 $960.7K

Cap Rate 7%

$686,186 $686.2K

Cap Rate 9%

$533,700 $533.7K

Market Conditions

NOI Build-Up for 3,415 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

$75.0K $21.96/SF

− Vacancy

−$6.4K −$1.87/SF

EGI

$68.6K $20.09/SF

− OpEx

−$20.6K −$6.03/SF

NOI

$48.0K $14.07/SF

Area

ZIP 73120

Vacancy

8.50%

Lease Rate

$21.96 /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%

$960,660

Cap Rate 7%

$686,186

Cap Rate 9%

$533,700

Alternative Uses

Best Use

Retail

$686.2K

$600.4K – $800.6K (±1% cap)

NOI $48,033 @ 7.0% cap · market cap 6.20%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$821.9K

$719.2K – $958.9K (±1% cap)

NOI $57,536 @ 7.0% cap · market cap 7.42%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Vertica Dispensary (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Parking Lot & Garage Daycare Center Grocery & Convenience Store Bakery (Bike/Boat/Book/etc) Store Carpet & Flooring Store

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

740

Businesses Nearby

96k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 51% Shops & Services 25% Apparel 18% Home Improvements & Furnishings 6%

McDonald's Dining

22,514 visits/mo 0.4 miles

7-Eleven Shops & Services

15,159 visits/mo 0.5 miles

HTeaO Dining

14,841 visits/mo 0.4 miles

Goodwill Apparel

10,070 visits/mo 0.5 miles

Dollar General Shops & Services

7,271 visits/mo 0.2 miles

Demographics for 73120, OK

36,530

Population

20,356

Households

1.8

Avg Household Size

38

Median Age

48%

College-Educated

96%

High-School Grad

11.0 sq mi

ZIP Area

3,321

Density / Sq Mi

$62,942

Median Household Income

$45,333

Median Earnings

$1,045

Median Rent

$227,600

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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Frequently Asked Questions

What type of property is this?

Storefront property - Flexible layout with exterior signage and parking for customers and employees.

Where is this storefront property located?

The property is located at 2925 Lakeside Drive The Village, OK.

What is the asking price?

The asking price for this property is $775,000.

What are key features of this property?

This property features: Remodeled within the last 6 years; Approximately 16,051 cars per day on May Ave.; Additional 720 SF storage or garage building