Automotive Retail Building with
New
For Sale
$999,870
1017 N Washington St, Ardmore, OK 73401
Established automotive business with retail, inventory, warehouse, office, and customer service areas.
Property Size6,300 SF
Price / SF$158.71
Days on Market2
Property Features for 1017 N Washington St
General Information
Standard status
Active
Size
6,300 SF
Building Details
Year Built
1994
Listing Agency:
Dean Lemons & Associates
Listed By:
Mark Graham
(940) 782-3098
Source:
Sarahflemingestates
Added: Sep 18
Last Checked: Sep 18 at 8:23AM
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 Dean Lemons & Associates
Investment Insights
Based on property information with market context.
This automotive property includes a 1994-built metal retail building totaling approximately 6,300 square feet across several functional areas. The layout provides approximately 2,250 square feet of retail sales floor, 2,184 square feet for inventory, stock, and work activities, 418 square feet of warehouse space, and 364 square feet of office area. Two bathrooms serve patrons and employees, while one loading dock supports receiving and handling. Signage includes a building-mounted sign and a 16-foot pole sign measuring approximately 6 feet by 4 feet.
The property occupies approximately 1.06 acres MOL at 1017 N Washington St in Ardmore, Oklahoma. It is positioned on a main arterial road with a reported daily traffic count of around 9,000 vehicles based on 2023 data, about 1 mile from State HW 77 and approximately 2.5 miles east of I-35. The offering includes the real estate, debt-free inventory, debt-free equipment, sales accounts, and business goodwill, including established municipal, state, and private accounts.
The property occupies approximately 1.06 acres MOL at 1017 N Washington St in Ardmore, Oklahoma. It is positioned on a main arterial road with a reported daily traffic count of around 9,000 vehicles based on 2023 data, about 1 mile from State HW 77 and approximately 2.5 miles east of I-35. The offering includes the real estate, debt-free inventory, debt-free equipment, sales accounts, and business goodwill, including established municipal, state, and private accounts.
Key Highlights
- 1994‑built metal automotive retail building with approximately 6,300 square feet
- Approximately 2,250 square feet of retail sales floor
- Approximately 2,184 square feet of inventory, stock, and work‑area space
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
$84,021
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
8.40%
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%
$1,680,420
$1.7M
Cap Rate 7%
$1,200,300
$1.2M
Cap Rate 9%
$933,567
$933.6K
Market Conditions
NOI Build-Up for 6,300 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
$133.8K $21.24/SF
− Vacancy
−$13.8K −$2.19/SF
EGI
$120.0K $19.05/SF
− OpEx
−$36.0K −$5.72/SF
NOI
$84.0K $13.34/SF
Area
Carter County, OK
Vacancy
10.30%
Lease Rate
$21.24 /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%
$1,680,420
Cap Rate 7%
$1,200,300
Cap Rate 9%
$933,567
Alternative Uses
Best Use
Industrial
$1.20M
$1.05M – $1.40M
NOI $84,021 @ 7.0% cap · market cap 8.40%
Second Best
Retail
$731.8K
$640.3K – $853.8K
NOI $51,227 @ 7.0% cap · market cap 5.12%
Theoretical Best
Office A
$1.62M
$1.41M – $1.88M
NOI $113,098 @ 7.0% cap · market cap 11.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
355
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 73401, OK
36,744
Population
16,349
Households
2.2
Avg Household Size
41
Median Age
23%
College-Educated
88%
High-School Grad
351.5 sq mi
ZIP Area
105
Density / Sq Mi
$60,288
Median Household Income
$39,005
Median Earnings
$960
Median Rent
$174,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Automotive property - Established automotive business with retail, inventory, warehouse, office, and customer service areas.
Where is this automotive property located?
The property is located at 1017 N Washington St Ardmore, OK.
What is the asking price?
The asking price for this property is $999,870.
What are key features of this property?
This property features: 1994‑built metal automotive retail building with approximately 6,300 square feet; Approximately 2,250 square feet of retail sales floor; Approximately 2,184 square feet of inventory, stock, and work‑area space
