Established Breakfast Diner with Drive-Up
For Sale
$200,000
200 N Broadway St, Cleveland, OK 74020
Corner food-service property with dine-in seating, extensive equipment, outdoor smoking facilities, and a walk-up service window.
Property Size905 SF
Price / SF$220.99
Days on Market28
Property Features for 200 N Broadway St
General Information
Standard status
Active
Size
905 SF
Building Details
Year Built
1955
Listing Agency:
OK Real Estate, LLC
(918) 623-0200
Listed By:
Darla Mills Brandon · License #185149
Source:
Alloverok
Added: Aug 5
Changed: Aug 30
Last Checked: Aug 31 at 7:41PM
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 OK Real Estate, LLC
Investment Insights
Based on property information with market context.
Built in 1955, this established breakfast diner includes a dine-in area, a covered parking area designed for drive-up service, an outdoor smoker, and a separate storage building. The property is equipped with commercial refrigerators and freezers, soda fountains, ice-cream machines, and a front walk-up window. The business has served the community for more than 65 years and offers an existing food-service setup.
The property occupies the corner of Broadway and Pawnee Street in Cleveland, Oklahoma, with frontage on Highway 99. On-site parking supports customer access, while the location is approximately 35 minutes from Downtown Tulsa. The address is 200 N Broadway St, Cleveland, OK 74020.
The property occupies the corner of Broadway and Pawnee Street in Cleveland, Oklahoma, with frontage on Highway 99. On-site parking supports customer access, while the location is approximately 35 minutes from Downtown Tulsa. The address is 200 N Broadway St, Cleveland, OK 74020.
Key Highlights
- Established diner serving the community for more than 65 years
- Covered parking area supports drive‑up service
- Commercial refrigerators, freezers, soda fountains, and ice‑cream machines included
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
$10,165
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
5.08%
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%
$203,300
$203.3K
Cap Rate 7%
$145,214
$145.2K
Cap Rate 9%
$112,944
$112.9K
Market Conditions
NOI Build-Up for 905 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
$14.1K $15.60/SF
− Vacancy
−$565 −$0.62/SF
EGI
$13.6K $14.98/SF
− OpEx
−$3.4K −$3.74/SF
NOI
$10.2K $11.23/SF
Area
Pawnee County, OK
Vacancy
4.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
25.00%
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%
$203,300
Cap Rate 7%
$145,214
Cap Rate 9%
$112,944
Alternative Uses
Best Use
Specialty Retail
$145.2K
$127.1K – $169.4K
NOI $10,165 @ 7.0% cap · market cap 5.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$213.5K
$186.8K – $249.1K
NOI $14,943 @ 7.0% cap · market cap 7.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
247
Businesses Nearby
61k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 61%
Dining 39%
McDonald's
Dining
14,636 visits/mo
0.0 miles
Phillips 66
Shops & Services
12,585 visits/mo
0.4 miles
OnCue Express
Shops & Services
8,874 visits/mo
0.4 miles
Dollar General
Shops & Services
7,988 visits/mo
0.0 miles
SONIC Drive In
Dining
7,787 visits/mo
0.2 miles
Demographics for 74020, OK
7,207
Population
3,425
Households
2.1
Avg Household Size
43
Median Age
17%
College-Educated
89%
High-School Grad
67.7 sq mi
ZIP Area
106
Density / Sq Mi
$61,188
Median Household Income
$40,123
Median Earnings
$886
Median Rent
$137,600
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?
Breakfast & diner - Corner food-service property with dine-in seating, extensive equipment, outdoor smoking facilities, and a walk-up service window.
Where is this breakfast & diner located?
The property is located at 200 N Broadway St Cleveland, OK.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Established diner serving the community for more than 65 years; Covered parking area supports drive‑up service; Commercial refrigerators, freezers, soda fountains, and ice‑cream machines included
