Commercial Property on Broadway
For Sale
$399,900
1806 W Broadway Street, Collinsville, OK 74021
Commercial property with high visibility and easy access.
Property Size3,198 SF
Days on Market171
Property Features for 1806 W Broadway Street
General Information
Standard status
Active
Size
3,198 SF
Property subtype
Commercial
Zoning
CG
Taxes and HOA fees
Annual Taxes
$2,018
Building Details
Building Size
3,198 SF
Year Built
1993
Listing Agency:
Game Changer Real Estate
(912) 282-8225
Listed By:
Lisa Ralls · License #206794
(912) 282-8225
Source:
Theloveteamoklahoma
Added: Mar 6
Changed: Aug 23
Last Checked: Aug 21 at 10:51PM
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 Game Changer Real Estate
Investment Insights
Based on property information with market context.
Located along the well-traveled Broadway Street corridor, this commercial property offers a strategically positioned asset with strong visibility and easy access in one of Collinsville’s primary commercial routes, just minutes from the Tulsa metro area. This established service facility presents a compelling opportunity for investors or owner-operators seeking a value-add commercial asset with operational infrastructure already in place. Recent upgrades demonstrate the owner’s commitment to maintaining the property and improving performance, including a repaired hot water heater, new pumps installed in both vacuum units, new water nozzles increasing pressure to approximately 1,500 PSI, new soap dispensers, and equipment improvements across all four open bays and the automatic drive-through system. The property size is 25900 square feet. With steady residential growth in Collinsville and strong daily traffic along W. Broadway, the property offers excellent potential for an operator or investor to enhance utilization and maximize long-term value.
Key Highlights
- High‑visibility location on well‑traveled Broadway Street
- Easy access and proximity to the Tulsa metro area
- Established service facility with operational infrastructure in place
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
$32,572
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
8.15%
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%
$651,440
$651.4K
Cap Rate 7%
$465,314
$465.3K
Cap Rate 9%
$361,911
$361.9K
Market Conditions
NOI Build-Up for 3,198 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
$48.0K $15.00/SF
− Vacancy
−$1.4K −$0.45/SF
EGI
$46.5K $14.55/SF
− OpEx
−$14.0K −$4.36/SF
NOI
$32.6K $10.18/SF
Area
Tulsa County, OK
Vacancy
3.00%
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%
$651,440
Cap Rate 7%
$465,314
Cap Rate 9%
$361,911
Alternative Uses
Best Use
Specialty Retail
$598.3K
$523.5K – $698.0K
NOI $41,878 @ 7.0% cap · market cap 10.47%
Second Best
Retail
$465.3K
$407.2K – $542.9K
NOI $32,572 @ 7.0% cap · market cap 8.15%
Theoretical Best
Office A
$720.7K
$630.7K – $840.9K
NOI $50,452 @ 7.0% cap · market cap 12.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
297
Businesses Nearby
5k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Sinclair
Shops & Services
2,660 visits/mo
0.2 miles
Shell
Shops & Services
2,106 visits/mo
0.1 miles
Demographics for 74021, OK
21,567
Population
8,705
Households
2.5
Avg Household Size
37
Median Age
23%
College-Educated
93%
High-School Grad
67.0 sq mi
ZIP Area
322
Density / Sq Mi
$90,148
Median Household Income
$46,186
Median Earnings
$1,197
Median Rent
$224,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Car wash - Commercial property with high visibility and easy access.
Where is this car wash located?
The property is located at 1806 W Broadway Street Collinsville, OK.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: High‑visibility location on well‑traveled Broadway Street; Easy access and proximity to the Tulsa metro area; Established service facility with operational infrastructure in place
