Downtown Office
For Sale
$495,000
211 E Cleveland Ave, Guthrie, OK 73044
Two suites provide private offices, flexible workspace, and access to a rear garage entrance.
Property Size3,376 SF
Price / SF$146.62
Days on Market17
Property Features for 211 E Cleveland Ave
General Information
Standard status
Active
Size
3,376 SF
Additional Details
Office Units
2
Building Details
Year Built
1935
Listing Agency:
Collection 7 Realty
(405) 990-3492
Listed By:
Whitney Heskett
Source:
Kathleenforrest
Added: Aug 15
Changed: Aug 29
Last Checked: Aug 30 at 7:50PM
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 Collection 7 Realty
Investment Insights
Based on property information with market context.
This 3,376-square-foot office building is arranged as a commercial duplex with two separate suites. Each side includes multiple private offices, adaptable workspace, and modern interior finishes. One suite is leased, while the other is vacant for an owner-user or incoming tenant.
The property is located in downtown Guthrie at 211 E Cleveland Ave. Alley access leads to a rear garage entrance that can support parking, storage, or deliveries. The two-suite configuration combines an existing lease with available office space in a centrally located commercial setting.
The property is located in downtown Guthrie at 211 E Cleveland Ave. Alley access leads to a rear garage entrance that can support parking, storage, or deliveries. The two-suite configuration combines an existing lease with available office space in a centrally located commercial setting.
Key Highlights
- 3,376‑square‑foot office building configured as two separate suites
- One suite is leased; the second is vacant for an owner‑user or new tenant
- Multiple private offices and flexible workspace in each suite
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
$28,632
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
5.78%
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%
$572,640
$572.6K
Cap Rate 7%
$409,029
$409.0K
Cap Rate 9%
$318,133
$318.1K
Market Conditions
NOI Build-Up for 3,376 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
$51.5K $15.24/SF
− Vacancy
−$13.3K −$3.93/SF
EGI
$38.2K $11.31/SF
− OpEx
−$9.5K −$2.83/SF
NOI
$28.6K $8.48/SF
Area
Logan County, OK
Vacancy
25.80%
Lease Rate
$15.24 /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%
$572,640
Cap Rate 7%
$409,029
Cap Rate 9%
$318,133
Alternative Uses
Best Use
Office B
$409.0K
$357.9K – $477.2K
NOI $28,632 @ 7.0% cap · market cap 5.78%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$816.0K
$714.0K – $952.0K
NOI $57,122 @ 7.0% cap · market cap 11.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
644
Businesses Nearby
Explore this area
Business Placement
Demographics for 73044, OK
24,603
Population
10,050
Households
2.4
Avg Household Size
39
Median Age
24%
College-Educated
91%
High-School Grad
264.7 sq mi
ZIP Area
93
Density / Sq Mi
$71,442
Median Household Income
$39,284
Median Earnings
$890
Median Rent
$200,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two suites provide private offices, flexible workspace, and access to a rear garage entrance.
Where is this office building located?
The property is located at 211 E Cleveland Ave Guthrie, OK.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 3,376‑square‑foot office building configured as two separate suites; One suite is leased; the second is vacant for an owner‑user or new tenant; Multiple private offices and flexible workspace in each suite
