Enid Property on Highway
For Sale
$1,200,000
2610 Owen K. Garriott Rd, Enid, OK 73703
2610 W. Owen K. Garriott / Highway 412 - Coveted and rare 1+ acre tract and 9400 sq. ft. improvment in Enid's A++ area.
Property Size9,400 SF
Lot Size1.80 Acres
Price / SF$127.66
Days on Market227
Property Features for 2610 Owen K. Garriott Rd
General Information
Standard status
Active
Property type
Flex space, Showrooms, Storefront properties, Industrial properties, Individual retail properties
Size
9,400 SF
Class
A
Total Parking Spaces
20
Elevators
No
Lot size
1.80 Acres
Sale Condition
Redevelopment Project
Investment Type
Owner User
Building Details
Year Built
1976
Year Renovated
2015
Buildings
3
Stories
1
Units
1
Listing Agency:
Nicholas Commercial
Listed By:
Cole Ream · License #OK124769
(580) 484-8400
Added: Jan 28
Changed: Mar 16
Investment Insights
Based on property information with market context.
Located in Enid, Oklahoma, this property features a tilt cast concrete building with just under 9,400 square feet of space, along with an enclosed porch across the front. Situated on 1.8 acres, the property is zoned for medium industrial use. The building includes a mostly open floor plan, a mezzanine, a retail counter, a parts area, bathrooms, offices, and shop space. These non-structural elements can be easily removed to maximize the full retail floor. Additionally, there is a 20x40 storage building to the southeast of the main building, and a metal shed that is partially on railroad property. The property has dedicated storm water detention, a curb cut, parking, and utilities. The site is reconfigurable for multiple tenants or a single tenant, and includes two bonus buildings not counted in the square footage.
Key Highlights
- Easy to reconfigure for multiple tenants or one single tenant, 2 bonus buildings not counted in square footage, impossible to find tract for this size and value.
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
$95,311
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
7.94%
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%
$1,906,220
$1.9M
Cap Rate 7%
$1,361,586
$1.4M
Cap Rate 9%
$1,059,011
$1.1M
Market Conditions
NOI Build-Up for 9,400 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
$142.1K $15.12/SF
− Vacancy
−$6.0K −$0.64/SF
EGI
$136.2K $14.48/SF
− OpEx
−$40.8K −$4.35/SF
NOI
$95.3K $10.14/SF
Area
Garfield County, OK
Vacancy
4.20%
Lease Rate
$15.12 /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%
$1,906,220
Cap Rate 7%
$1,361,586
Cap Rate 9%
$1,059,011
Alternative Uses
Best Use
Retail
$1.36M
$1.19M – $1.59M
NOI $95,311 @ 7.0% cap · market cap 7.94%
Second Best
Industrial
$830.5K
$726.7K – $969.0K
NOI $58,137 @ 7.0% cap · market cap 4.84%
Theoretical Best
Office A
$2.59M
$2.27M – $3.02M
NOI $181,211 @ 7.0% cap · market cap 15.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,155
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 73703, OK
30,376
Population
13,610
Households
2.2
Avg Household Size
38
Median Age
31%
College-Educated
93%
High-School Grad
114.1 sq mi
ZIP Area
266
Density / Sq Mi
$74,202
Median Household Income
$41,860
Median Earnings
$1,039
Median Rent
$191,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - 2610 W. Owen K. Garriott / Highway 412 - Coveted and rare 1+ acre tract and 9400 sq. ft. improvment in Enid's A++ area.
Where is this flex space located?
The property is located at 2610 Owen K. Garriott Rd Enid, OK.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Easy to reconfigure for multiple tenants or one single tenant, 2 bonus buildings not counted in square footage, impossible to find tract for this size and value.
