Flex Building with Overhead
For Sale
$184,900
26229 180th Street, Purcell, OK 73080
Commercially zoned property with retail, office, storage, and service-oriented functionality.
Property Size900 SF
Days on Market110
Property Features for 26229 180th Street
General Information
Standard status
Active
Size
900 SF
Property subtype
Commercial
Zoning
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$1,775
Amenities
four overhead doors
full concrete floors
covered front porch
mini-split
window unit
three exterior water spigots
Building Details
Building Size
900 SF
Year Built
2018
Stories
1
Construction
metal building
Listing Agency:
CENTURY 21 Judge Fite Company
(405) 650-0091
Listed By:
Damon Duck · License #141218
(405) 650-0091
Source:
Jarmanrealtyok
Added: May 14
Changed: Aug 30
Last Checked: Aug 30 at 3:40PM
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 CENTURY 21 Judge Fite Company
Investment Insights
Based on property information with market context.
This 2018 flex building combines approximately 900 square feet of retail or office area with a lean-to and supplemental office space. The improvements include concrete flooring throughout, four overhead doors—two measuring 8 feet and two measuring 12 feet—and a covered front porch measuring 12' x 30'. A mini-split serves the main bay, while the office area has a window unit.
The property is located at State Highway 74 and 180th Street, south of Purcell and outside the Purcell city limits. Utilities include city water, aerobic septic, OEC fiber, and OGE electric. The site also provides parking and three exterior water spigots. Prior uses have included a produce stand and car lot, supporting the building’s documented retail and service flexibility.
The property is located at State Highway 74 and 180th Street, south of Purcell and outside the Purcell city limits. Utilities include city water, aerobic septic, OEC fiber, and OGE electric. The site also provides parking and three exterior water spigots. Prior uses have included a produce stand and car lot, supporting the building’s documented retail and service flexibility.
Key Highlights
- Approximately 900 SF of retail or office space with lean‑to and additional office area
- Four overhead doors: two 8‑foot doors and two 12‑foot doors
- 12' x 30' covered front porch plus full concrete floors
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
$11,179
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
6.05%
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%
$223,580
$223.6K
Cap Rate 7%
$159,700
$159.7K
Cap Rate 9%
$124,211
$124.2K
Market Conditions
NOI Build-Up for 900 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
$18.9K $21.00/SF
− Vacancy
−$1.7K −$1.89/SF
EGI
$17.2K $19.11/SF
− OpEx
−$6.0K −$6.69/SF
NOI
$11.2K $12.42/SF
Area
McClain County, OK
Vacancy
9.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
35.00%
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%
$223,580
Cap Rate 7%
$159,700
Cap Rate 9%
$124,211
Alternative Uses
Best Use
Flex RnD
$159.7K
$139.7K – $186.3K
NOI $11,179 @ 7.0% cap · market cap 6.05%
Second Best
Retail
$128.3K
$112.2K – $149.6K
NOI $8,978 @ 7.0% cap · market cap 4.86%
Theoretical Best
Specialty Retail
$217.5K
$190.4K – $253.8K
NOI $15,228 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
28
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 73080, OK
10,108
Population
4,007
Households
2.5
Avg Household Size
39
Median Age
23%
College-Educated
81%
High-School Grad
100.1 sq mi
ZIP Area
101
Density / Sq Mi
$71,535
Median Household Income
$42,128
Median Earnings
$881
Median Rent
$206,700
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.
Frequently Asked Questions
What type of property is this?
Flex space - Commercially zoned property with retail, office, storage, and service-oriented functionality.
Where is this flex space located?
The property is located at 26229 180th Street Purcell, OK.
What is the asking price?
The asking price for this property is $184,900.
What are key features of this property?
This property features: Approximately 900 SF of retail or office space with lean‑to and additional office area; Four overhead doors: two 8‑foot doors and two 12‑foot doors; 12' x 30' covered front porch plus full concrete floors
