Brick Storefront with Expansion
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For Sale
Contact for pricing
362 E Willow Rd, Enid, OK 73701
Brick commercial building with an open layout, storage, washroom, and adjoining land for potential expansion.
Property Size576 SF
Lot Size0.33 Acres
Price / SF$189.24
Days on Market7
Property Features for 362 E Willow Rd
General Information
Standard status
Active
Size
576 SF
Lot size
0.33 Acres
Property subtype
RETAIL
Zoning
industrial
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Additional Details
Land Use
retail
Amenities
good storage
1 washroom
CH&A
Building Details
Buildings
1
Construction
brick
Listing Agency:
Nicholas Commercial
(580) 484-8401
Listed By:
Cole Ream · License #OK124769
(580) 484-8401
Source:
Moodyscre
Added: Aug 26
Changed: Aug 30
Last Checked: Aug 31 at 1:21AM
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 Nicholas Commercial
Investment Insights
Based on property information with market context.
This 576-square-foot brick storefront has an open interior arrangement, dedicated storage, one washroom, and CH&A. The building has recently operated as a retail establishment and has also been used as a hair salon. Additional land extends behind and west of the building, forming an approximately one-third+/- acre tract.
The property includes public utilities and paved parking and is zoned for industrial use. It is situated in north central Enid, OK, just off Highway Business 64, also identified as N. 4th St., near the E. Willow, N. 4th, and Rock Island streets. The combination of an existing commercial building and adjoining land provides a compact property configuration with multiple documented use histories.
The property includes public utilities and paved parking and is zoned for industrial use. It is situated in north central Enid, OK, just off Highway Business 64, also identified as N. 4th St., near the E. Willow, N. 4th, and Rock Island streets. The combination of an existing commercial building and adjoining land provides a compact property configuration with multiple documented use histories.
Key Highlights
- 576 square foot brick building with an open floor plan
- Additional land behind and west of the building, approximately one‑third+/- acre tract
- Public utilities and paved parking
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
$5,840
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
5.36%
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%
$116,800
$116.8K
Cap Rate 7%
$83,429
$83.4K
Cap Rate 9%
$64,889
$64.9K
Market Conditions
NOI Build-Up for 576 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
$8.7K $15.12/SF
− Vacancy
−$366 −$0.64/SF
EGI
$8.3K $14.48/SF
− OpEx
−$2.5K −$4.35/SF
NOI
$5.8K $10.14/SF
Area
Garfield County, OK
Vacancy
4.20%
Lease Rate
$15.12 /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%
$116,800
Cap Rate 7%
$83,429
Cap Rate 9%
$64,889
Alternative Uses
Best Use
Retail
$83.4K
$73.0K – $97.3K
NOI $5,840 @ 7.0% cap · market cap 5.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$158.6K
$138.8K – $185.1K
NOI $11,104 @ 7.0% cap · market cap 10.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
242
Businesses Nearby
6k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 93%
Home Improvements & Furnishings 7%
Shell
Shops & Services
3,348 visits/mo
0.5 miles
O'Reilly Auto Parts
Shops & Services
2,583 visits/mo
0.4 miles
Airgas
Home Improvements & Furnishings
462 visits/mo
0.1 miles
Demographics for 73701, OK
24,744
Population
10,924
Households
2.3
Avg Household Size
34
Median Age
13%
College-Educated
80%
High-School Grad
145.2 sq mi
ZIP Area
170
Density / Sq Mi
$51,497
Median Household Income
$31,495
Median Earnings
$788
Median Rent
$99,500
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?
Storefront property - Brick commercial building with an open layout, storage, washroom, and adjoining land for potential expansion.
Where is this storefront property located?
The property is located at 362 E Willow Rd Enid, OK.
What is the asking price?
The asking price for this property is $109,000.
What are key features of this property?
This property features: 576 square foot brick building with an open floor plan; Additional land behind and west of the building, approximately one‑third+/- acre tract; Public utilities and paved parking
