1516 N Lynn Riggs Blvd, Claremore, OK 74017
Remodeled retail space in prime Claremore location.
- Added:
- Jun 9, 2022
- Days on Market:
- 1467
- Last Refresh:
- May 20 at 8:22 pm
Property Features for 1516 N Lynn Riggs Blvd
General Information
- Standard status
- Active
- Size
- 7,200 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1980
Listing agent Justin Brown License #OK 160445
Listing office Walman Commercial Real Estate Services (918) 481-8888
Listing date Jun 9, 2022
Source Crexi
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 Walman Commercial Real Estate Services
HighLights
- New 5‑year lease in place.
- National credit tenant occupies 60% of the building.
- Located on HWY 66 in the prime retail corridor of Claremore.
- Average household incomes in excess of $74,000 within 5 miles.
- Fully remodeled in 2017.
- New HVAC units, electrical panels, and LED lighting.
Overview
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $152.9k | $21.24 |
| − Vacancy | −$8.6k | −$1.19 |
| EGI | $144.4k | $20.05 |
| − OpEx | −$43.3k | −$6.02 |
| NOI | $101.1k | $14.04 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Claremore
- County
- Rogers
- State
- Oklahoma
- Longitude
- -95.6081592
- Latitude
- 36.3238779
