Restaurant Building with Retail
For Sale
$2,500,000
223 E Hall Of Fame Avenue, Stillwater, OK 74075
Commercial Sale, Stillwater, OK
Property Size12,151 SF
Lot Size1.26 Acres
Price / SF$205.74
Days on Market787
Property Features for 223 E Hall Of Fame Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Directions
from Hall of Fame and Main Street go east on Hall of fame. Property on your right next to McAlester's.
Standard status
Active
APN
223EHallOfFame74075
Size
12,151 SF
Lot size
1.26 Acres
Amenities
geo system
backup hot water heater system
silikal quartz flooring
vent hood system
large lighted pole sign
Building Details
Year built
1997
Listing Agency:
Realty ONE Group Champion
(405) 612-1799
Listed By:
Sharyl Pickens
(405) 314-5437
Added: Aug 12, 2024
Changed: Aug 19
Last Checked: Oct 7 at 4:06PM
MLS# 1131150
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 12,151-square-foot restaurant property occupies 1.26 acres and was constructed in 1997. The building includes a commercial kitchen with Silikal quartz flooring, a $200,000 vent hood system, and a hot-water system supported by a full-size backup unit. A Geo system is also installed, and a large illuminated pole sign is included with the property.
Zoned Commercial, the property is positioned near Boone Pickens Stadium and Gallagher-Iba Arena in Stillwater. Nearby businesses include Starbucks, McAlister's, Mexico Joe's, Chipotle, Chili's, and Panera Bread. The existing improvements support restaurant operations while allowing consideration of retail or entertainment components within the building.
Zoned Commercial, the property is positioned near Boone Pickens Stadium and Gallagher-Iba Arena in Stillwater. Nearby businesses include Starbucks, McAlister's, Mexico Joe's, Chipotle, Chili's, and Panera Bread. The existing improvements support restaurant operations while allowing consideration of retail or entertainment components within the building.
Key Highlights
- 12,151‑square‑foot restaurant building on 1.26 acres
- Commercial zoning in Stillwater, OK
- Near Boone Pickens Stadium and Gallagher‑Iba Arena
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$175,021
Cap Rate
7.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,500,420
$3.5M
Cap Rate 7%
$2,500,300
$2.5M
Cap Rate 9%
$1,944,678
$1.9M
Market Conditions
NOI Build-Up for 12,151 SF
Gross rent
$246.4K $20.28/SF
− Vacancy
−$13.1K −$1.07/SF
EGI
$233.4K $19.21/SF
− OpEx
−$58.3K −$4.80/SF
NOI
$175.0K $14.40/SF
Area
Payne County, OK
Vacancy
5.30%
Lease Rate
$20.28 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,500,420
Cap Rate 7%
$2,500,300
Cap Rate 9%
$1,944,678
Alternative Uses
Best Use
Specialty Retail
$2.50M
$2.19M – $2.92M
NOI $175,021 @ 7.0% cap · market cap 7.00%
Second Best
Retail
$2.33M
$2.04M – $2.72M
NOI $163,353 @ 7.0% cap · market cap 6.53%
Theoretical Best
Office A
$2.99M
$2.61M – $3.49M
NOI $209,164 @ 7.0% cap · market cap 8.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
985
Businesses Nearby
517k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 38%
Shops & Services 26%
Superstores 19%
Home Improvements & Furnishings 6%
Walmart
Superstores
96,828 visits/mo
0.4 miles
Raising Cane's Chicken Fingers
Dining
36,999 visits/mo
0.2 miles
Hobby Lobby
Shops & Services
35,589 visits/mo
0.3 miles
Taco Bell
Dining
24,661 visits/mo
0.4 miles
HomeGoods
Home Improvements & Furnishings
22,749 visits/mo
0.4 miles
Demographics for 74075, OK
25,033
Population
12,255
Households
2
Avg Household Size
28
Median Age
50%
College-Educated
95%
High-School Grad
94.8 sq mi
ZIP Area
264
Density / Sq Mi
$45,540
Median Household Income
$23,292
Median Earnings
$933
Median Rent
$220,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Commercially zoned restaurant property with adaptable space for dining, entertainment, and multiple retail uses.
Where is this conventional restaurant located?
The property is located at 223 E Hall Of Fame Avenue Stillwater, OK.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 12,151‑square‑foot restaurant building on 1.26 acres; Commercial zoning in Stillwater, OK; Near Boone Pickens Stadium and Gallagher‑Iba Arena
