Freestanding Flex Space with
For Sale
$259,000
211 N Main Street, Blanchard, OK 73010
Split-layout commercial building with heated shop, warehouse area, and alley loading access.
Property Size3,623 SF
Lot Size0.16 Acres
Price / SF$70.96
Days on Market105
Property Features for 211 N Main Street
General Information
Standard status
Active
Size
3,623 SF
Lot size
0.16 Acres
Property subtype
Commercial
Zoning
Commercial
Warehouse & Industrial
Warehouse Space
1,250 SF
Conditioned Warehouse
No
Taxes and HOA fees
Annual Taxes
$1,239
Building Details
Building Size
3,623 SF
Year Built
1980
Buildings
1
Listing Agency:
LB Realty Group-MB of Oklahoma
(405) 317-9542
Listed By:
Lindsey Bunch · License #145779
(405) 317-9542
Source:
Jarmanrealtyok
Added: May 20
Changed: Aug 30
Last Checked: Aug 31 at 5:11PM
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 LB Realty Group-MB of Oklahoma
Investment Insights
Based on property information with market context.
This freestanding flex space contains 3,650 square feet in a split configuration. The front showroom measures 50x25 and includes central heat and air, while a separate 50x25 shop area has heat and a bathroom. An additional 50x25 warehouse section provides storage or work area without climate control. The property also includes utility space measuring approximately 9x18 with a sink and drain, plus a 40x20 section with a 10x10 overhead door.
Built in 1980, the property occupies a 0.16-acre downtown lot at 211 N Main Street in Blanchard, Oklahoma. An alley supports loading and receiving, and the existing camera/security system through Pioneer will remain with the property. The site is located just north of the Chamber of Commerce and nearby downtown businesses.
Built in 1980, the property occupies a 0.16-acre downtown lot at 211 N Main Street in Blanchard, Oklahoma. An alley supports loading and receiving, and the existing camera/security system through Pioneer will remain with the property. The site is located just north of the Chamber of Commerce and nearby downtown businesses.
Key Highlights
- 3,650 sq. ft. freestanding flex space on a 0.16‑acre downtown lot
- 50x25 storefront/showroom with central heat and air
- Separate 50x25 heated shop area with bathroom
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
$22,664
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
8.75%
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%
$453,280
$453.3K
Cap Rate 7%
$323,771
$323.8K
Cap Rate 9%
$251,822
$251.8K
Market Conditions
NOI Build-Up for 3,650 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
$35.0K $9.60/SF
− Vacancy
−$2.7K −$0.73/SF
EGI
$32.4K $8.87/SF
− OpEx
−$9.7K −$2.66/SF
NOI
$22.7K $6.21/SF
Area
McClain County, OK
Vacancy
7.60%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
30.00%
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%
$453,280
Cap Rate 7%
$323,771
Cap Rate 9%
$251,822
Alternative Uses
Best Use
Flex RnD
$647.7K
$566.7K – $755.6K
NOI $45,338 @ 7.0% cap · market cap 17.51%
Second Best
Retail
$520.1K
$455.1K – $606.8K
NOI $36,409 @ 7.0% cap · market cap 14.06%
Theoretical Best
Specialty Retail
$882.3K
$772.0K – $1.03M
NOI $61,758 @ 7.0% cap · market cap 23.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
41
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 73010, OK
20,744
Population
7,770
Households
2.7
Avg Household Size
39
Median Age
26%
College-Educated
91%
High-School Grad
174.5 sq mi
ZIP Area
119
Density / Sq Mi
$86,968
Median Household Income
$47,315
Median Earnings
$1,070
Median Rent
$241,600
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Split-layout commercial building with heated shop, warehouse area, and alley loading access.
Where is this flex space located?
The property is located at 211 N Main Street Blanchard, OK.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: 3,650 sq. ft. freestanding flex space on a 0.16‑acre downtown lot; 50x25 storefront/showroom with central heat and air; Separate 50x25 heated shop area with bathroom
