Multi-Building Flex Industrial
For Sale
$635,000
302 E Main St, Cushing, OK 74023
Three connected buildings with office, shop, and multiple bays provide flexible space for industrial and service tenants.
Property Size2,148 SF
Price / SF$295.62
Days on Market98
Property Features for 302 E Main St
General Information
Standard status
Active
Size
2,148 SF
Building Details
Year Built
2020
Listing Agency:
Epique Realty
Listed By:
Jewell Jackson
Source:
Alloverok
Added: Jun 17
Changed: Sep 8
Last Checked: Sep 21 at 12:41PM
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 Epique Realty
Investment Insights
Based on property information with market context.
This exceptional multi-building commercial property includes three separate primary buildings plus a separate rear storage building with seven additional bays. The front building is configured with a showroom/reception area, office, storage room, bathroom, and break room. The second building is a fully equipped shop offering a compressed air system, a 1-ton overhead crane, upstairs offices/rooms, restrooms, and utilities already in place. The third building provides additional office space, a large shop with four front-facing bays, side semi-truck bay doors, a storage room, restroom, and upstairs storage. Rounding out the site, the rear storage building adds seven bays suitable for equipment, inventory, or other storage needs.
The property is located on a busy main roadway with visibility and access designed for commercial operations. The overall layout supports businesses that need a combination of customer-facing space, administrative areas, and functional shop or warehouse work areas.
With showroom/reception, office, shop, overhead crane capability, semi-truck loading, and multiple bay doors across the buildings, the configuration is well-suited to industrial, manufacturing, service, construction, trucking, or other operations requiring both workspace and supporting offices. If you need a setup that can accommodate different functions under one ownership, this property’s multi-building design is built around that flexibility.
The property is located on a busy main roadway with visibility and access designed for commercial operations. The overall layout supports businesses that need a combination of customer-facing space, administrative areas, and functional shop or warehouse work areas.
With showroom/reception, office, shop, overhead crane capability, semi-truck loading, and multiple bay doors across the buildings, the configuration is well-suited to industrial, manufacturing, service, construction, trucking, or other operations requiring both workspace and supporting offices. If you need a setup that can accommodate different functions under one ownership, this property’s multi-building design is built around that flexibility.
Key Highlights
- Year built 2020 commercial property with three separate connected buildings for multiple business uses
- Front building includes showroom/reception, office, storage, bathroom, and break room
- Second building is a fully equipped shop with compressed air system, 1‑ton overhead crane, upstairs offices/rooms, restrooms, and utilities
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
$30,244
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
4.76%
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%
$604,880
$604.9K
Cap Rate 7%
$432,057
$432.1K
Cap Rate 9%
$336,044
$336.0K
Market Conditions
NOI Build-Up for 2,148 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
$45.6K $21.24/SF
− Vacancy
−$2.4K −$1.13/SF
EGI
$43.2K $20.11/SF
− OpEx
−$13.0K −$6.03/SF
NOI
$30.2K $14.08/SF
Area
Payne County, OK
Vacancy
5.30%
Lease Rate
$21.24 /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%
$604,880
Cap Rate 7%
$432,057
Cap Rate 9%
$336,044
Alternative Uses
Best Use
Industrial
$432.1K
$378.1K – $504.1K
NOI $30,244 @ 7.0% cap · market cap 4.76%
Second Best
Office B
$404.7K
$354.1K – $472.2K
NOI $28,329 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$528.2K
$462.2K – $616.3K
NOI $36,975 @ 7.0% cap · market cap 5.82%
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
419
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 74023, OK
12,117
Population
5,474
Households
2.2
Avg Household Size
38
Median Age
16%
College-Educated
88%
High-School Grad
173.1 sq mi
ZIP Area
70
Density / Sq Mi
$48,859
Median Household Income
$34,202
Median Earnings
$759
Median Rent
$134,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Three connected buildings with office, shop, and multiple bays provide flexible space for industrial and service tenants.
Where is this flex space located?
The property is located at 302 E Main St Cushing, OK.
What is the asking price?
The asking price for this property is $635,000.
What are key features of this property?
This property features: Year built 2020 commercial property with three separate connected buildings for multiple business uses; Front building includes showroom/reception, office, storage, bathroom, and break room; Second building is a fully equipped shop with compressed air system, 1‑ton overhead crane, upstairs offices/rooms, restrooms, and utilities
