Adaptable Light Industrial
For Sale
Contact for pricing
1402 S Commerce Street, Ardmore, OK 73401
Thriving light industrial space adaptable for salon or similar use.
Property Size1,583 SF
Price / SF$252.68
Days on Market141
Property Features for 1402 S Commerce Street
General Information
Standard status
Active
Size
1,583 SF
Property subtype
Office
Building Details
Year Built
1947
Listing Agency:
I Sell Houses Real Estate Co
(580) 222-7811
Listed By:
Emily King · License #183227
Source:
Crexi
Added: Mar 24
Changed: Aug 8
Last Checked: Aug 11 at 7:20AM
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 I Sell Houses Real Estate Co
Investment Insights
Based on property information with market context.
Located in South Commerce, this property presents a strong investment opportunity. Currently operating as a tattoo shop, the light industrial space is adaptable for a salon or similar business. The property includes 6 private booths equipped with sinks, as well as 2 bathrooms. The sale is contingent on the current tenant securing occupancy at a new location within the City of Ardmore. Options include a 6-month closing period, or an earlier closing date with a lease-back agreement. The property benefits from high visibility and high traffic. The building has a size of 1583 square feet.
Key Highlights
- High‑visibility, high‑traffic location in Prime South Commerce.
- Strong investment potential with adaptable light industrial space.
- Equipped with 6 private booths with sinks + 2 bathrooms.
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
$21,112
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
5.28%
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%
$422,240
$422.2K
Cap Rate 7%
$301,600
$301.6K
Cap Rate 9%
$234,578
$234.6K
Market Conditions
NOI Build-Up for 1,583 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
$33.6K $21.24/SF
− Vacancy
−$3.5K −$2.19/SF
EGI
$30.2K $19.05/SF
− OpEx
−$9.0K −$5.72/SF
NOI
$21.1K $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%
$422,240
Cap Rate 7%
$301,600
Cap Rate 9%
$234,578
Alternative Uses
Best Use
Industrial
$301.6K
$263.9K – $351.9K
NOI $21,112 @ 7.0% cap · market cap 5.28%
Second Best
Flex RnD
$242.6K
$212.3K – $283.1K
NOI $16,984 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$406.0K
$355.2K – $473.6K
NOI $28,418 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
92
Businesses Nearby
Well-served
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
Market
Vacancy Rate% for Industrial 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?
Flex space - Thriving light industrial space adaptable for salon or similar use.
Where is this flex space located?
The property is located at 1402 S Commerce Street Ardmore, OK.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: High‑visibility, high‑traffic location in Prime South Commerce.; Strong investment potential with adaptable light industrial space.; Equipped with 6 private booths with sinks + 2 bathrooms.
