7-Storefront Retail
For Sale
$650,000
212 Mulberry Lane, Wilson, OK 73463
Commercially zoned retail center with restaurant infrastructure and direct positioning along US Highway 70.
Property Size4,000 SF
Days on Market404
Property Features for 212 Mulberry Lane
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Commercial
Zoning
Commercial
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$2,756
Building Details
Building Size
4,000 SF
Year Built
2011
Stories
1
Units
7
Tenancy
Multi
Listing Agency:
Salt Real Estate Pauls Valley
(580) 465-7537
Listed By:
Miranda Hildebrant
(580) 465-7537
Source:
Capitalrealestateok
Added: Jul 15, 2025
Changed: Aug 21
Last Checked: Aug 22 at 1:19PM
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 Salt Real Estate Pauls Valley
Investment Insights
Based on property information with market context.
Built in 2011, this commercially zoned retail center contains 7 individual storefronts in a multi-tenant configuration. One storefront is arranged for restaurant use and includes existing supporting infrastructure, offering a specialized setup within the property’s retail layout.
The center is located at 212 Mulberry Lane in Wilson, Oklahoma, immediately next to Black Gold Casino and along US Highway 70. Its placement provides highway exposure and proximity to the casino, while the multiple storefront arrangement supports a range of retail and service occupancies within one commercial property.
The center is located at 212 Mulberry Lane in Wilson, Oklahoma, immediately next to Black Gold Casino and along US Highway 70. Its placement provides highway exposure and proximity to the casino, while the multiple storefront arrangement supports a range of retail and service occupancies within one commercial property.
Key Highlights
- 7 individual storefronts in a multi‑tenant retail center
- One storefront configured for restaurant use with existing infrastructure
- Commercial zoning
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
$32,525
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
5.00%
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%
$650,500
$650.5K
Cap Rate 7%
$464,643
$464.6K
Cap Rate 9%
$361,389
$361.4K
Market Conditions
NOI Build-Up for 4,000 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
$52.8K $13.20/SF
− Vacancy
−$6.3K −$1.58/SF
EGI
$46.5K $11.62/SF
− OpEx
−$13.9K −$3.48/SF
NOI
$32.5K $8.13/SF
Area
Carter County, OK
Vacancy
12.00%
Lease Rate
$13.20 /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%
$650,500
Cap Rate 7%
$464,643
Cap Rate 9%
$361,389
Alternative Uses
Best Use
Retail
$464.6K
$406.6K – $542.1K
NOI $32,525 @ 7.0% cap · market cap 5.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.03M
$897.6K – $1.20M
NOI $71,808 @ 7.0% cap · market cap 11.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
44
Businesses Nearby
Explore this area
Business Placement
Demographics for 73463, OK
3,365
Population
1,709
Households
2
Avg Household Size
43
Median Age
11%
College-Educated
87%
High-School Grad
209.9 sq mi
ZIP Area
16
Density / Sq Mi
$56,372
Median Household Income
$42,538
Median Earnings
$783
Median Rent
$107,800
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?
Strip mall - Commercially zoned retail center with restaurant infrastructure and direct positioning along US Highway 70.
Where is this strip mall located?
The property is located at 212 Mulberry Lane Wilson, OK.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 7 individual storefronts in a multi‑tenant retail center; One storefront configured for restaurant use with existing infrastructure; Commercial zoning
