Concrete Storefront with Display
For Sale
$699,000
321 S Lynn Riggs Boulevard, Claremore, OK 74017
Commercial, Claremore, OK
Property Size3,200 SF
Lot Size0.93 Acres
Price / SF$218.44
Days on Market92
Property Features for 321 S Lynn Riggs Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Retail
Parking features
Garage, Off Street
Security features
Security System
Interior features
9' Ceiling Height, Display Window, High Speed Internet, Security System-Owned, Smoke Detector, Suspended Ceiling, Vaulted Ceiling
Exterior features
Door Sign, Lighting, Pole Sign, Sidewalk, Storage
Subdivision
CLAREMORE OT
Elementary school district
Claremore - Sch Dist (20)
Middle school district
Claremore - Sch Dist (20)
High school district
Claremore - Sch Dist (20)
Directions
From Downtown Claremore Highway 66 and 20, go south on Highway 66 2 blocks, see sign on Right.
Standard status
Active
APN
660007110
Size
3,200 SF
Lot size
0.93 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lot 4 Block 135 Claremore OT Less the North 5' Thereof. 21N-16E-08 Rogers County
Tax Annual Amount
1735
Legal Description
Lot 4 Block 135 Claremore OT Less the North 5' Thereof. 21N-16E-08 Rogers County
Utilities
Utilities
Cable Available
Heating system
Central
Cooling system
Zoned, Central Air
Building Details
Year built
1960
Floors in Building
1
Flooring type
Vinyl, Concrete
Building materials
Concrete
Additional Structures
Storage
Listing Agency:
Keller Williams Premier · Keller Williams Realty
(918) 283-2252
Listed By:
Dawna Barnes · License #148516
(918) 906-7906
Added: Jun 4
Changed: Aug 19
Last Checked: Sep 3 at 6:06PM
MLS# 2620430
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 3,200-square-foot concrete storefront property, built in 1960, is configured for retail or office use. The interior includes a reception area, four-plus offices, a separate entrance serving the office area, and a rear expansion area. Display windows, suspended and vaulted ceilings, vinyl and concrete flooring, central air, zoned cooling, and central heating are among the existing features. The building includes 1.5 baths, a garage, and off-street parking.
Located at 321 S Lynn Riggs Boulevard in Claremore, the property fronts Route 66 within the downtown area. The 0.93-acre site also includes sidewalk access, exterior lighting, a pole sign, storage, and cable availability. Retail zoning supports the property’s storefront-oriented configuration.
Located at 321 S Lynn Riggs Boulevard in Claremore, the property fronts Route 66 within the downtown area. The 0.93-acre site also includes sidewalk access, exterior lighting, a pole sign, storage, and cable availability. Retail zoning supports the property’s storefront-oriented configuration.
Key Highlights
- 3,200 square feet on a 0.93‑acre site
- Retail zoning with storefront‑oriented layout
- Display windows and exterior pole sign
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
$44,913
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
6.43%
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%
$898,260
$898.3K
Cap Rate 7%
$641,614
$641.6K
Cap Rate 9%
$499,033
$499.0K
Market Conditions
NOI Build-Up for 3,200 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
$68.0K $21.24/SF
− Vacancy
−$3.8K −$1.19/SF
EGI
$64.2K $20.05/SF
− OpEx
−$19.2K −$6.02/SF
NOI
$44.9K $14.04/SF
Area
Rogers County, OK
Vacancy
5.60%
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%
$898,260
Cap Rate 7%
$641,614
Cap Rate 9%
$499,033
Alternative Uses
Best Use
Retail
$641.6K
$561.4K – $748.6K
NOI $44,913 @ 7.0% cap · market cap 6.43%
Second Best
Office B
$602.9K
$527.5K – $703.4K
NOI $42,203 @ 7.0% cap · market cap 6.04%
Theoretical Best
Specialty Retail
$801.5K
$701.3K – $935.0K
NOI $56,102 @ 7.0% cap · market cap 8.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,235
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 74017, OK
29,083
Population
12,038
Households
2.4
Avg Household Size
40
Median Age
23%
College-Educated
92%
High-School Grad
140.5 sq mi
ZIP Area
207
Density / Sq Mi
$65,519
Median Household Income
$38,165
Median Earnings
$1,015
Median Rent
$184,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Florists Choice — 316 N Missouri Ave, Claremore, OK 74017
Frequently Asked Questions
What type of property is this?
Storefront property - Retail-zoned building with reception space, multiple offices, rear expansion area, and off-street parking.
Where is this storefront property located?
The property is located at 321 S Lynn Riggs Boulevard Claremore, OK.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 3,200 square feet on a 0.93‑acre site; Retail zoning with storefront‑oriented layout; Display windows and exterior pole sign
