Multi-Building Flex
For Sale
$635,000
302 E Main Street, Cushing, OK 74023
Commercial, Cushing, OK
Property Size2,148 SF
Lot Size0.96 Acres
Price / SF$295.62
Days on Market94
Property Features for 302 E Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
UC
Parking features
Carport
Interior features
Public Restrooms
Exterior features
Door Sign, Dumpster, Pole Sign, Storage
Elementary school district
Cushing - Sch Dist (P1)
Middle school district
Cushing - Sch Dist (P1)
High school district
Cushing - Sch Dist (P1)
Directions
Main St and Little head west on Main street half a block property is on the right side of the road.
Standard status
Active
APN
600012203
Size
2,148 SF
Lot size
0.96 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
ORIG TOWN CUSHING BLK 2 LOTS 1-12
Tax Annual Amount
5942
Legal Description
ORIG TOWN CUSHING BLK 2 LOTS 1-12
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
break room
Building Details
Year built
2020
Flooring type
Concrete
Building materials
Frame
Roof type
Metal
Additional Structures
Storage
Listing Agency:
Epique Realty
(888) 893-3537
Listed By:
Jewell Jackson · License #200597
(918) 399-5277
Added: Jun 12
Changed: Sep 7
Last Checked: Sep 13 at 12:06AM
MLS# 2621732
Copyright © 2026 MLS Technology, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex property includes three primary buildings plus a separate rear storage structure on 0.964 acres. The front building provides a showroom or reception area, office, storage room, bathroom, and break room. A second building contains a shop with a compressed air system, 1-ton overhead crane, upstairs offices or rooms, restrooms, and utilities in place. The third building adds office space, a large shop, four front-facing bays, side semi-truck bay doors, storage, a restroom, and upstairs storage. The rear building contributes seven additional storage bays.
The property is located on E Main Street in Cushing, Oklahoma, along a busy main roadway. Site features include a pole sign, door sign, concrete flooring, central heating and cooling, metal roofing, frame construction, and carport parking. Zoning is UC, and the property was built in 2020. The configuration supports industrial, manufacturing, service, construction, trucking, and storage uses identified in the property information.
The property is located on E Main Street in Cushing, Oklahoma, along a busy main roadway. Site features include a pole sign, door sign, concrete flooring, central heating and cooling, metal roofing, frame construction, and carport parking. Zoning is UC, and the property was built in 2020. The configuration supports industrial, manufacturing, service, construction, trucking, and storage uses identified in the property information.
Key Highlights
- Three primary buildings plus a separate rear storage building on 0.964 acres
- Second building includes a compressed air system and 1‑ton overhead crane
- Third building has four front‑facing bays and side semi‑truck bay doors
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
$36,725
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
5.78%
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%
$734,500
$734.5K
Cap Rate 7%
$524,643
$524.6K
Cap Rate 9%
$408,056
$408.1K
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
−$6.5K −$3.02/SF
NOI
$36.7K $17.10/SF
Area
Payne County, OK
Vacancy
5.30%
Lease Rate
$21.24 /SF/Yr
Expense Ratio
15.00%
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%
$734,500
Cap Rate 7%
$524,643
Cap Rate 9%
$408,056
Alternative Uses
Best Use
Warehouse
$524.6K
$459.1K – $612.1K
NOI $36,725 @ 7.0% cap · market cap 5.78%
Second Best
Industrial
$432.1K
$378.1K – $504.1K
NOI $30,244 @ 7.0% cap · market cap 4.76%
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
Lease Details
Yes
Paved road access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flexible commercial layout combining showroom, offices, shops, equipment storage, and vehicle service bays.
Where is this flex space located?
The property is located at 302 E Main Street 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: Three primary buildings plus a separate rear storage building on 0.964 acres; Second building includes a compressed air system and 1‑ton overhead crane; Third building has four front‑facing bays and side semi‑truck bay doors
