Building Details

Year Built 1978

Tenancy Single

Listing Agency: Anchor Point Capital

Listed By: Eric Vu · License #01913407

Source: Crexi

Added: Apr 27 Changed: Aug 30 Last Checked: Aug 30 at 7:08PM

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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 Anchor Point Capital

Investment Insights

Based on property information with market context.

This single-tenant gas station includes a 3,625-square-foot convenience store with four fueling lanes, situated on 0.64 acres with fee simple ownership of the land and building. Constructed in 1978, the property operates under an absolute NNN lease, limiting landlord responsibilities under the stated lease structure.

The primary lease term has 15 years remaining and includes two 5-year renewal options, with 10% rental increases scheduled every 5 years. The lease carries a guaranty from MSM Stores, Inc., an operator with more than 20 years of operating history and over 60 locations. The property is located at 21 Main Street in Agra, within the Oklahoma City MSA, near city hall and a civic and school hub. The source information identifies it as the only fuel station within a 7-mile radius.

Key Highlights

• 3,625‑square‑foot convenience store with 4 fueling lanes
• 0.64 acres with fee simple land and building ownership
• Absolute NNN lease with 15 years remaining on the primary term

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

$61,335

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

7.74%

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%

$1,226,700 $1.2M

Cap Rate 7%

$876,214 $876.2K

Cap Rate 9%

$681,500 $681.5K

Market Conditions

NOI Build-Up for 3,625 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

$87.0K $24.00/SF

− Vacancy

−$5.2K −$1.44/SF

EGI

$81.8K $22.56/SF

− OpEx

−$20.4K −$5.64/SF

NOI

$61.3K $16.92/SF

Area

Lincoln County, OK

Vacancy

6.00%

Lease Rate

$24.00 /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%

$1,226,700

Cap Rate 7%

$876,214

Cap Rate 9%

$681,500

Alternative Uses

Best Use

Specialty Retail

$876.2K

$766.7K – $1.02M (±1% cap)

NOI $61,335 @ 7.0% cap · market cap 7.74%

Second Best

Retail

$516.6K

$452.0K – $602.7K (±1% cap)

NOI $36,159 @ 7.0% cap · market cap 4.56%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

LibertyX Bitcoin ATM Atm Maveric Mini Marts Grocery & Convenience Store ATM (Maveric Mini ... Atm

Suggested Use

Top Pick HVAC Service Plumbing Service Grocery & Convenience Store Kitchen & Bath Showroom Cafe & Coffee Shop Building Supply

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

39

Businesses Nearby

8k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Shell Shops & Services

4,386 visits/mo 0.2 miles

Dollar General Shops & Services

3,383 visits/mo 0.5 miles

Demographics for 74824, OK

1,221

Population

532

Households

2.3

Avg Household Size

40

Median Age

12%

College-Educated

90%

High-School Grad

40.5 sq mi

ZIP Area

30

Density / Sq Mi

$62,250

Median Household Income

$36,431

Median Earnings

$879

Median Rent

$162,100

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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What type of property is this? Where is this gas stations located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Gas station - Convenience store property with fueling lanes and an absolute NNN lease structure.

Where is this gas station located?

The property is located at 21 Main Street Agra, OK.

What is the asking price?

The asking price for this property is $792,350.

What are key features of this property?

This property features: 3,625‑square‑foot convenience store with 4 fueling lanes; 0.64 acres with fee simple land and building ownership; Absolute NNN lease with 15 years remaining on the primary term