Freestanding QSR
For Sale
Contact for pricing
202 W Hall of Fame Ave, Stillwater, OK 74075
Second-generation QSR freestanding building with a drive-thru setup, positioned within walking distance of major campus venues.
Property Size3,812 SF
Price / SF$419.73
Days on Market202
Property Features for 202 W Hall of Fame Ave
General Information
Standard status
Active
Size
3,812 SF
Class
B
Property subtype
Retail
Zoning
CS
Lease Type
NNN
Building Details
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
NAI Red
Listed By:
David Hartnack · License #OK 152924
(405) 840-0600
Source:
Crexi
Added: Feb 17
Changed: Sep 2
Last Checked: Sep 7 at 12:11AM
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 NAI Red
Investment Insights
Based on property information with market context.
This freestanding second-generation QSR drive-thru building is offered for sale and is suited for operators seeking a drive-thru format in an established restaurant setting. The asset is identified as a drive-through restaurant and restaurant property type, providing a purpose-built configuration for QSR use.
The property is located at 202 W Hall of Fame Ave in Stillwater, Oklahoma. It is approximately 0.2 miles walking distance from Oklahoma State University and about 0.2 miles from Boone Pickens Stadium.
For buyers evaluating a restaurant redevelopment or continuation strategy, the combination of a drive-thru arrangement and a nearby draw from campus and stadium activity supports a straightforward QSR-oriented presentation.
The property is located at 202 W Hall of Fame Ave in Stillwater, Oklahoma. It is approximately 0.2 miles walking distance from Oklahoma State University and about 0.2 miles from Boone Pickens Stadium.
For buyers evaluating a restaurant redevelopment or continuation strategy, the combination of a drive-thru arrangement and a nearby draw from campus and stadium activity supports a straightforward QSR-oriented presentation.
Key Highlights
- Second‑generation QSR freestanding building with drive‑thru setup
- About 0.2 miles walking distance to OSU
- About 0.2 miles walking distance to Boone Pickens Stadium
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
$54,908
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
3.43%
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%
$1,098,160
$1.1M
Cap Rate 7%
$784,400
$784.4K
Cap Rate 9%
$610,089
$610.1K
Market Conditions
NOI Build-Up for 3,812 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
$77.3K $20.28/SF
− Vacancy
−$4.1K −$1.07/SF
EGI
$73.2K $19.21/SF
− OpEx
−$18.3K −$4.80/SF
NOI
$54.9K $14.40/SF
Area
Payne County, OK
Vacancy
5.30%
Lease Rate
$20.28 /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%
$1,098,160
Cap Rate 7%
$784,400
Cap Rate 9%
$610,089
Alternative Uses
Best Use
Specialty Retail
$784.4K
$686.4K – $915.1K
NOI $54,908 @ 7.0% cap · market cap 3.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$937.4K
$820.2K – $1.09M
NOI $65,619 @ 7.0% cap · market cap 4.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,204
Businesses Nearby
215k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 61%
Shops & Services 29%
Groceries 8%
Hotels & Casinos 2%
SONIC Drive In
Dining
20,166 visits/mo
0.2 miles
Homeland
Groceries
17,979 visits/mo
0.3 miles
Starbucks
Dining
16,598 visits/mo
0.3 miles
IHOP
Dining
15,764 visits/mo
0.3 miles
Chili's Grill & Bar
Dining
15,198 visits/mo
0.4 miles
Demographics for 74075, OK
25,033
Population
12,255
Households
2
Avg Household Size
28
Median Age
50%
College-Educated
95%
High-School Grad
94.8 sq mi
ZIP Area
264
Density / Sq Mi
$45,540
Median Household Income
$23,292
Median Earnings
$933
Median Rent
$220,900
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?
Drive through restaurant - Second-generation QSR freestanding building with a drive-thru setup, positioned within walking distance of major campus venues.
Where is this drive through restaurant located?
The property is located at 202 W Hall of Fame Ave Stillwater, OK.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Second‑generation QSR freestanding building with drive‑thru setup; About 0.2 miles walking distance to OSU; About 0.2 miles walking distance to Boone Pickens Stadium
