Duplex Office
For Sale
$495,000
211 E Cleveland Avenue, Guthrie, OK 73044
Commercial Sale, Guthrie, OK
Property Size3,376 SF
Lot Size2.00 Acres
Price / SF$146.62
Days on Market175
Property Features for 211 E Cleveland Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Commercial
Directions
Cleveland and Wentz, building faces North.
Standard status
Active
APN
211ECleveland73044
Size
3,376 SF
Lot size
2.00 Acres
Building Details
Year built
1935
Listing Agency:
Collection 7 Realty
(405) 562-8777
Listed By:
Whitney Heskett
(405) 990-3492
Added: Mar 2
Changed: Aug 20
Last Checked: Aug 24 at 12:06AM
MLS# 1216764
Copyright © 2026 MLSOK, 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.
This commercial office property contains two separate suites within a 3,376-square-foot building. Both units include multiple private offices, flexible workspace, and modern finishes. One suite is leased, while the second is available for an owner-user or a new tenant. Commercial zoning supports the property’s office-oriented configuration.
Situated at 211 E Cleveland Avenue in downtown Guthrie, the property includes alley access and a rear garage entrance. That rear access can support secure parking, storage, or deliveries. The site encompasses 2 acres in Guthrie, Oklahoma, providing a substantial land component alongside the office improvements.
Situated at 211 E Cleveland Avenue in downtown Guthrie, the property includes alley access and a rear garage entrance. That rear access can support secure parking, storage, or deliveries. The site encompasses 2 acres in Guthrie, Oklahoma, providing a substantial land component alongside the office improvements.
Key Highlights
- 3,376‑square‑foot commercial office property with two separate suites
- One suite is leased; the other is vacant for an owner‑user or new tenant
- Multiple private offices and flexible workspace in each unit
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
645
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 units - Two office suites combine private rooms, adaptable work areas, and modern interior finishes for varied business needs.
Where is this office units located?
The property is located at 211 E Cleveland Avenue 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 commercial office property with two separate suites; One suite is leased; the other is vacant for an owner‑user or new tenant; Multiple private offices and flexible workspace in each unit
