Cobblestone Retail
For Sale
$725,000
181 Forest Ave, Medicine Park, OK 73557
Medicine Park, OK
Property Size3,100 SF
Price / SF$233.87
Days on Market17
Property Features for 181 Forest Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
2
Full bathrooms
2
Standard status
Active
Size
3,100 SF
Building Details
Year built
1999
Listing Agency:
NextHome Tri-Covenant Realty
(580) 512-0591
Listed By:
Brenda Spencer-Ragland · License #183998,PersonLicenseNumber
(580) 699-7653
Added: Aug 14
Changed: Aug 28
Last Checked: Aug 30 at 6:06PM
MLS# 170669
Copyright © 2026 NextHome, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1999, this two-level retail property combines a cobblestone exterior with vinyl siding and a metal roof. The main floor provides flexible customer-facing space with two restrooms. A rear service area includes a three-compartment sink, supporting potential food-service or other operational uses.
The upper level adds adaptable space with a 3/4 bathroom, kitchen sink, cabinets, and refrigerator. It may accommodate additional workspace or living space, subject to applicable requirements. The property is located at 181 Forest Avenue in Medicine Park, an Oklahoma tourist and resort destination surrounded by scenic views and a small-town setting.
The upper level adds adaptable space with a 3/4 bathroom, kitchen sink, cabinets, and refrigerator. It may accommodate additional workspace or living space, subject to applicable requirements. The property is located at 181 Forest Avenue in Medicine Park, an Oklahoma tourist and resort destination surrounded by scenic views and a small-town setting.
Key Highlights
- 1999‑built retail property at 181 Forest Avenue in Medicine Park, OK 73557
- Cobblestone exterior with vinyl siding and durable metal roof
- Main level includes two customer restrooms
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
$41,343
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
5.70%
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%
$826,860
$826.9K
Cap Rate 7%
$590,614
$590.6K
Cap Rate 9%
$459,367
$459.4K
Market Conditions
NOI Build-Up for 3,100 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
$65.8K $21.24/SF
− Vacancy
−$6.8K −$2.19/SF
EGI
$59.1K $19.05/SF
− OpEx
−$17.7K −$5.72/SF
NOI
$41.3K $13.34/SF
Area
Comanche 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%
$826,860
Cap Rate 7%
$590,614
Cap Rate 9%
$459,367
Alternative Uses
Best Use
Retail
$590.6K
$516.8K – $689.1K
NOI $41,343 @ 7.0% cap · market cap 5.70%
Second Best
Mixed Use
$284.0K
$248.5K – $331.3K
NOI $19,879 @ 7.0% cap · market cap 2.74%
Theoretical Best
Office A
$762.3K
$667.0K – $889.4K
NOI $53,363 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
145
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 73557, OK
295
Population
203
Households
1.5
Avg Household Size
56
Median Age
52%
College-Educated
90%
High-School Grad
0.9 sq mi
ZIP Area
328
Density / Sq Mi
$100,000
Median Household Income
$70,536
Median Earnings
$1,556
Median Rent
$322,400
Median Home Value
Market
Vacancy Rate% for Retail 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?
Storefront property - Two-level commercial building with retail space, service-area plumbing, and upper-level workspace or living potential.
Where is this storefront property located?
The property is located at 181 Forest Ave Medicine Park, OK.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 1999‑built retail property at 181 Forest Avenue in Medicine Park, OK 73557; Cobblestone exterior with vinyl siding and durable metal roof; Main level includes two customer restrooms
