Flexible Retail
For Sale
Contact for pricing
2731 W Owen K Garriott Rd, Enid, OK 73703
3,573-square-foot retail building on a 0.8-acre lot, offering flexible space for a variety of businesses.
Property Size3,573 SF
Lot Size0.80 Acres
Price / SF$153.93
Days on Market188
Property Features for 2731 W Owen K Garriott Rd
General Information
Standard status
Active
Size
3,573 SF
Lot size
0.80 Acres
Property subtype
RETAIL
Listing Agency:
Nicholas Commercial
(580) 234-7200
Listed By:
Nick Nicholas · License #161046
(580) 234-7000
Source:
Moodyscre
Added: Mar 9
Changed: Aug 8
Last Checked: Sep 12 at 9:27AM
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 Nicholas Commercial
Investment Insights
Based on property information with market context.
This for-sale retail building is situated on a 0.8-acre lot and offers 3,573 square feet of space designed to support a variety of business needs. The property’s size and layout provide flexibility for tenants or owners looking for a dedicated retail facility.
Located at 2731 W Owen K Garriott Rd in Enid, OK, the building is positioned on its own lot, allowing straightforward site use consistent with small commercial operations.
Located at 2731 W Owen K Garriott Rd in Enid, OK, the building is positioned on its own lot, allowing straightforward site use consistent with small commercial operations.
Key Highlights
- 3,573‑square‑foot retail building
- Set on a 0.8‑acre lot
- Flexible space layout suitable for a variety of businesses
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
$36,228
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
6.59%
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%
$724,560
$724.6K
Cap Rate 7%
$517,543
$517.5K
Cap Rate 9%
$402,533
$402.5K
Market Conditions
NOI Build-Up for 3,573 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
$54.0K $15.12/SF
− Vacancy
−$2.3K −$0.64/SF
EGI
$51.8K $14.48/SF
− OpEx
−$15.5K −$4.35/SF
NOI
$36.2K $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%
$724,560
Cap Rate 7%
$517,543
Cap Rate 9%
$402,533
Alternative Uses
Best Use
Retail
$517.5K
$452.9K – $603.8K
NOI $36,228 @ 7.0% cap · market cap 6.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$984.0K
$861.0K – $1.15M
NOI $68,879 @ 7.0% cap · market cap 12.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
451
Businesses Nearby
203k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 33%
Apparel 28%
Dining 25%
Electronics 7%
Hobby Lobby
Shops & Services
34,042 visits/mo
0.3 miles
Ross Dress for Less
Apparel
29,542 visits/mo
0.2 miles
Starbucks
Dining
16,535 visits/mo
0.3 miles
Hideaway Pizza
Dining
15,199 visits/mo
0.4 miles
Colton's Steak House & Grill
Dining
10,772 visits/mo
0.3 miles
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
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
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Frequently Asked Questions
What type of property is this?
Retail space - 3,573-square-foot retail building on a 0.8-acre lot, offering flexible space for a variety of businesses.
Where is this retail space located?
The property is located at 2731 W Owen K Garriott Rd Enid, OK.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 3,573‑square‑foot retail building; Set on a 0.8‑acre lot; Flexible space layout suitable for a variety of businesses
