Downtown Sand Springs Storefront
For Sale
$349,900
224 Main St, Sand Springs, OK 74063
Commercial storefront in Sand Springs, ready for new design.
Property Size3,375 SF
Price / SF$103.67
Days on Market160
Property Features for 224 Main St
General Information
Standard status
Active
Size
3,375 SF
Taxes and HOA fees
Annual Taxes
$4,422
Listing Agency:
Platinum Realty, LLC.
(918) 378-1700
Listed By:
Linda Fitzgerald · License #126972
(918) 378-1700
Source:
Exprealty
Added: Mar 17
Changed: Aug 23
Last Checked: Aug 22 at 11:20AM
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 Platinum Realty, LLC.
Investment Insights
Based on property information with market context.
This is a unique opportunity to acquire a full brick building with a commercial storefront in Downtown Sand Springs. The building offers many possible uses and features 16-foot ceilings. A new TPO roof was installed in late 2019. The property includes five HVAC units located on the roof. A 2-car garage entrance was added in the alley, along with a single-door entrance. The building has been completely gutted and is ready for a new design. The property size is 3375 square feet.
Key Highlights
- Prime Downtown Sand Springs location with commercial storefront
- Completely gutted interior, ready for custom design and build‑out
- New TPO roof installed in late 2019
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
$30,755
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
8.79%
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%
$615,100
$615.1K
Cap Rate 7%
$439,357
$439.4K
Cap Rate 9%
$341,722
$341.7K
Market Conditions
NOI Build-Up for 3,375 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
$54.7K $16.20/SF
− Vacancy
−$5.5K −$1.62/SF
EGI
$49.2K $14.58/SF
− OpEx
−$18.5K −$5.47/SF
NOI
$30.8K $9.11/SF
Area
Tulsa County, OK
Vacancy
10.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
37.50%
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%
$615,100
Cap Rate 7%
$439,357
Cap Rate 9%
$341,722
Alternative Uses
Best Use
Mixed Use
$439.4K
$384.4K – $512.6K
NOI $30,755 @ 7.0% cap · market cap 8.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$760.6K
$665.6K – $887.4K
NOI $53,244 @ 7.0% cap · market cap 15.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
843
Businesses Nearby
Explore this area
Business Placement
Demographics for 74063, OK
30,630
Population
12,823
Households
2.4
Avg Household Size
42
Median Age
24%
College-Educated
91%
High-School Grad
129.8 sq mi
ZIP Area
236
Density / Sq Mi
$71,569
Median Household Income
$41,815
Median Earnings
$989
Median Rent
$187,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial storefront in Sand Springs, ready for new design.
Where is this mixed-use property located?
The property is located at 224 Main St Sand Springs, OK.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Prime Downtown Sand Springs location with commercial storefront; Completely gutted interior, **ready for custom design and build‑out**; New TPO roof installed in late 2019
