Retail Space with Movable Interior
For Sale
Contact for pricing
3218 W Broadway Street, Ardmore, OK 73401
Single-story retail space offers slab flooring, ample front parking, and covered patios with on-site storage units.
Property Size3,160 SF
Price / SF$142.41
Days on Market15
Property Features for 3218 W Broadway Street
General Information
Standard status
Active
Size
3,160 SF
Property subtype
Retail
Zoning
COMMERCIAL CORRIDOR
Additional Details
Highway Access
Yes
Amenities
5 corrugated metal storage units with shelving
2 covered patios
two restrooms
office
dressing rooms
several open sheds
Building Details
Year Built
1957
Listing Agency:
Claudia & Carolyn Realty Group
(580) 220-9800
Listed By:
Claudia Kittrell · License #058493
Source:
Crexi
Added: Jul 26
Changed: Aug 8
Last Checked: Aug 7 at 11:04AM
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 Claudia & Carolyn Realty Group
Investment Insights
Based on property information with market context.
This retail space includes slab flooring, with most interior walls able to be moved to accommodate a range of business layouts. The property provides two restrooms, an office area, and dressing rooms, along with five corrugated metal storage units with shelving. Additional outdoor storage is available through open sheds for lawn equipment or building supplies, plus two covered patios in the back.
There is ample parking in front of the building, and the property highlights I-35 visibility. Built in 1957, the site is zoned for a variety of uses, including restaurant, retail sales, offices, religious institutions, telecommunication facility, day care, real estate offices, and medical clinics. Please double-check permitted uses with the city planner.
The flexible interior configuration and supporting onsite storage make the space practical for retail-oriented users seeking a more adaptable footprint. The listing notes that the listing associate must accompany for showings.
There is ample parking in front of the building, and the property highlights I-35 visibility. Built in 1957, the site is zoned for a variety of uses, including restaurant, retail sales, offices, religious institutions, telecommunication facility, day care, real estate offices, and medical clinics. Please double-check permitted uses with the city planner.
The flexible interior configuration and supporting onsite storage make the space practical for retail-oriented users seeking a more adaptable footprint. The listing notes that the listing associate must accompany for showings.
Key Highlights
- 3,160 SF retail space built in 1957
- Ample parking in front of the building
- Five corrugated metal storage units with shelving
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
$25,695
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
5.71%
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%
$513,900
$513.9K
Cap Rate 7%
$367,071
$367.1K
Cap Rate 9%
$285,500
$285.5K
Market Conditions
NOI Build-Up for 3,160 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
$41.7K $13.20/SF
− Vacancy
−$5.0K −$1.58/SF
EGI
$36.7K $11.62/SF
− OpEx
−$11.0K −$3.48/SF
NOI
$25.7K $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%
$513,900
Cap Rate 7%
$367,071
Cap Rate 9%
$285,500
Alternative Uses
Best Use
Retail
$367.1K
$321.2K – $428.3K
NOI $25,695 @ 7.0% cap · market cap 5.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$810.4K
$709.1K – $945.5K
NOI $56,728 @ 7.0% cap · market cap 12.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,318
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?
Retail space - Single-story retail space offers slab flooring, ample front parking, and covered patios with on-site storage units.
Where is this retail space located?
The property is located at 3218 W Broadway Street Ardmore, OK.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 3,160 SF retail space built in 1957; Ample parking in front of the building; Five corrugated metal storage units with shelving
