Ardmore Strip Mall For
For Sale
Contact for pricing
301 I Street NW, Ardmore, OK 73401
Strip mall in Ardmore with long-term tenants and growth potential.
Property Size3,880 SF
Price / SF$103.07
Days on Market156
Property Features for 301 I Street NW
General Information
Standard status
Active
Size
3,880 SF
Property subtype
Mixed Use
Building Details
Year Built
1970
Listing Agency:
Turn Key Real Estate
Listed By:
Peggie Simpler · License #30974
Source:
Crexi
Added: Mar 6
Changed: Aug 8
Last Checked: Jul 13 at 9:07AM
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 Turn Key Real Estate
Investment Insights
Based on property information with market context.
This strip mall is situated in the center of Ardmore, offering visibility and access. Ardmore is a regional hub with approximately 25,000 residents and a retail trade area encompassing over 350,000 people within a 50-mile radius. The property includes 5 rental spaces. Two long-term tenants have operated at this location for over 20 years. These tenants are currently on month-to-month leases, providing flexibility for rental adjustments or redevelopment. The property size is 3,880 square feet. This property may suit investors seeking stable income with long-term tenants and potential for growth.
Key Highlights
- Excellent visibility and access in the center of Ardmore.
- Located in a regional hub with a large retail trade area (350,000+ people).
- Features 5 rental spaces.
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
$31,549
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
7.89%
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%
$630,980
$631.0K
Cap Rate 7%
$450,700
$450.7K
Cap Rate 9%
$350,544
$350.5K
Market Conditions
NOI Build-Up for 3,880 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
$51.2K $13.20/SF
− Vacancy
−$6.1K −$1.58/SF
EGI
$45.1K $11.62/SF
− OpEx
−$13.5K −$3.48/SF
NOI
$31.5K $8.13/SF
Area
Carter County, OK
Vacancy
12.00%
Lease Rate
$13.20 /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%
$630,980
Cap Rate 7%
$450,700
Cap Rate 9%
$350,544
Alternative Uses
Best Use
Retail
$450.7K
$394.4K – $525.8K
NOI $31,549 @ 7.0% cap · market cap 7.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$995.1K
$870.7K – $1.16M
NOI $69,654 @ 7.0% cap · market cap 17.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,296
Businesses Nearby
Explore this area
Business Placement
Demographics for 73401, OK
36,744
Population
16,349
Households
2.2
Avg Household Size
41
Median Age
23%
College-Educated
88%
High-School Grad
351.5 sq mi
ZIP Area
105
Density / Sq Mi
$60,288
Median Household Income
$39,005
Median Earnings
$960
Median Rent
$174,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Strip mall in Ardmore with long-term tenants and growth potential.
Where is this strip mall located?
The property is located at 301 I Street NW Ardmore, OK.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Excellent visibility and access in the center of Ardmore.; Located in a regional hub with a large retail trade area (350,000+ people).; Features 5 rental spaces.
