Renovated Commercial Building on
For Sale
Contact for pricing
23350 W Hwy 16, Bristow, OK 74010
Versatile commercial building suitable for retail, office, or event venue.
Property Size3,258 SF
Lot Size1.25 Acres
Price / SF$44.51
Days on Market370
Property Features for 23350 W Hwy 16
General Information
Standard status
Active
Size
3,258 SF
Lot size
1.25 Acres
Property subtype
Mixed Use, Office, Special Purpose, Retail, Industrial
Building Details
Year Built
2000
Listing Agency:
Midwest Land Group
(918) 798-1561
Listed By:
Summer Witty · License #178413
Source:
Crexi
Added: Aug 8, 2025
Changed: Aug 8
Last Checked: Aug 12 at 4:15AM
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 Midwest Land Group
Investment Insights
Based on property information with market context.
This fully renovated commercial building, situated on approximately 1.25 acres, presents numerous possibilities. Previously an event center, the property is suitable for various uses, including a daycare, retail shop, food service business, or office space, and can continue as an event venue. The metal building features a spacious main hall, two smaller rooms suitable as breakout areas or private offices, and two restrooms. A separate office area provides dedicated workspace. The commercial kitchen includes a walk-in freezer, suitable for catering, food preparation, or restaurant use. The HVAC system was updated in 2021. With ample parking and a flexible interior layout, this 3258 square foot property is move-in ready.
Key Highlights
- 1.25 +/- acre lot offers ample space and future expansion possibilities.
- Fully renovated and move‑in ready**, minimizing upfront costs and downtime.
- Versatile commercial space suitable for various businesses (event center, daycare, retail, food service, office).
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
$10,038
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
6.92%
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%
$200,760
$200.8K
Cap Rate 7%
$143,400
$143.4K
Cap Rate 9%
$111,533
$111.5K
Market Conditions
NOI Build-Up for 3,258 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
$15.6K $4.80/SF
− Vacancy
−$1.3K −$0.40/SF
EGI
$14.3K $4.40/SF
− OpEx
−$4.3K −$1.32/SF
NOI
$10.0K $3.08/SF
Area
Creek County, OK
Vacancy
8.30%
Lease Rate
$4.80 /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%
$200,760
Cap Rate 7%
$143,400
Cap Rate 9%
$111,533
Alternative Uses
Best Use
Office B
$665.1K
$581.9K – $775.9K
NOI $46,554 @ 7.0% cap · market cap 32.11%
Second Best
Specialty Retail
$609.5K
$533.3K – $711.1K
NOI $42,664 @ 7.0% cap · market cap 29.42%
Theoretical Best
Office A
$801.2K
$701.0K – $934.7K
NOI $56,082 @ 7.0% cap · market cap 38.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3
Businesses Nearby
Explore this area
Business Placement
Demographics for 74010, OK
10,449
Population
4,607
Households
2.3
Avg Household Size
41
Median Age
14%
College-Educated
90%
High-School Grad
322.8 sq mi
ZIP Area
32
Density / Sq Mi
$54,905
Median Household Income
$39,556
Median Earnings
$690
Median Rent
$172,600
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?
Mixed-use property - Versatile commercial building suitable for retail, office, or event venue.
Where is this mixed-use property located?
The property is located at 23350 W Hwy 16 Bristow, OK.
What is the asking price?
The asking price for this property is $145,000.
What are key features of this property?
This property features: 1.25 +/- acre lot offers ample space and future expansion possibilities.; Fully renovated and move‑in ready**, minimizing upfront costs and downtime.; Versatile commercial space suitable for various businesses (event center, daycare, retail, food service, office).
