Retail Space with Operating Liquor
For Sale
$1,200,000
3637 N Pennsylvania, Oklahoma City, OK 73112
COMMERCIAL - Oklahoma City, OK
Property Size3,700 SF
Lot Size0.45 Acres
Price / SF$324.32
Days on Market139
Property Features for 3637 N Pennsylvania
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
C-1/O-2
Security features
Security System
Interior features
Display Window, High Speed Internet, Public Restrooms, Security System-Leased, Smoke Detector, Suspended Ceiling
Exterior features
Door Sign, Lighting, Pole Sign, Professional Landscaped, Sidewalk
Fencing
Privacy
Elementary school district
Oklahoma City (X1)
Middle school district
Oklahoma City (X1)
High school district
Oklahoma City (X1)
Directions
From I-44 (Will Rogers Expressway): Exit at NW 36th Street, head east to N Pennsylvania Avenue, then turn north. Property will be on the west side of N Pennsylvania Ave. From NW Expressway (OK-3): Travel east or west to N Pennsylvania Avenue, then go south. Property will be on the west side of the street just north of NW 36th Street. From I-235 (Broadway Extension): Exit at NW 36th Street and head west to N Pennsylvania Avenue, then turn north. Property will be on the west side of N Pennsylvania Ave. Centrally located with convenient access to I-44, I-235, and NW Expressway.
Standard status
Active
APN
053250025
Size
3,700 SF
Lot size
0.45 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
WEST POINT AMD E2 001 000 W20FT OF LOT 1 EX A TRI TR IN NE/C BEING 10FT ON N & 15FT ON E & ALL LOTS 2 THRU 4 PLUS ALL LOT 47 & W20FT LOT 48
Tax Annual Amount
7300
Legal Description
WEST POINT AMD E2 001 000 W20FT OF LOT 1 EX A TRI TR IN NE/C BEING 10FT ON N & 15FT ON E & ALL LOTS 2 THRU 4 PLUS ALL LOT 47 & W20FT LOT 48
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
2001
Flooring type
Tile, Concrete
Building materials
Brick
Listing Agency:
Realty One Group Dreamers
(539) 367-1555
Listed By:
Mary Benway
(918) 638-6989
Added: Mar 31
Changed: Aug 4
Last Checked: Aug 16 at 2:06PM
MLS# 2611387
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 retail space includes an operating liquor store plus additional retail space. The property is approximately 3,700 SF on 0.45 acres and is served by central heating and central air, with a brick exterior and a construction built in 2001. Interior features include a display window, suspended ceiling, concrete and tile flooring, public restrooms, and a security system that is leased, along with smoke detectors. Exterior improvements include door signage, lighting, a pole sign, professional landscaping, sidewalk, and privacy fencing.
The property is located at 3637 N Pennsylvania in Oklahoma City, Oklahoma (73112). It is positioned for strong visibility along a high-traffic corridor, and zoning is C-1/O-2.
In addition to the liquor store operations included with the offering, the additional retail space is currently leased on a month-to-month basis, providing flexibility for future lease negotiations or tenant changes, subject to buyer due diligence. Buyer to verify all information.
The property is located at 3637 N Pennsylvania in Oklahoma City, Oklahoma (73112). It is positioned for strong visibility along a high-traffic corridor, and zoning is C-1/O-2.
In addition to the liquor store operations included with the offering, the additional retail space is currently leased on a month-to-month basis, providing flexibility for future lease negotiations or tenant changes, subject to buyer due diligence. Buyer to verify all information.
Key Highlights
- Approximately 3,700 SF retail property on 0.45 acres
- Established liquor store plus additional retail space
- Zoned C‑1/O‑2
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
$73,038
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
6.09%
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%
$1,460,760
$1.5M
Cap Rate 7%
$1,043,400
$1.0M
Cap Rate 9%
$811,533
$811.5K
Market Conditions
NOI Build-Up for 3,700 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
$111.0K $30.00/SF
− Vacancy
−$6.7K −$1.80/SF
EGI
$104.3K $28.20/SF
− OpEx
−$31.3K −$8.46/SF
NOI
$73.0K $19.74/SF
Area
Oklahoma City, OK
Vacancy
6.00%
Lease Rate
$30.00 /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%
$1,460,760
Cap Rate 7%
$1,043,400
Cap Rate 9%
$811,533
Alternative Uses
Best Use
Retail
$1.04M
$913.0K – $1.22M
NOI $73,038 @ 7.0% cap · market cap 6.09%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.27M
$1.11M – $1.48M
NOI $88,578 @ 7.0% cap · market cap 7.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,459
Businesses Nearby
245k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 59%
Dining 28%
Shops & Services 12%
Home Improvements & Furnishings 1%
Dillard's
Apparel
136,824 visits/mo
0.4 miles
Whiskey Cake
Dining
28,239 visits/mo
0.5 miles
Olive Garden
Dining
20,942 visits/mo
0.4 miles
Braum's Ice Cream & Dairy Stores
Dining
20,619 visits/mo
0.5 miles
Oklahoma City18
Shops & Services
13,076 visits/mo
0.5 miles
Demographics for 73112, OK
31,113
Population
16,413
Households
1.9
Avg Household Size
37
Median Age
35%
College-Educated
91%
High-School Grad
7.6 sq mi
ZIP Area
4,094
Density / Sq Mi
$57,833
Median Household Income
$39,641
Median Earnings
$1,030
Median Rent
$173,100
Median Home Value
Market
Vacancy Rate% for Retail in Oklahoma City, OK
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Retail property in C-1/O-2 with an established liquor store and additional retail tenant on month-to-month lease terms.
Where is this retail space located?
The property is located at 3637 N Pennsylvania Oklahoma City, OK.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Approximately 3,700 SF retail property on 0.45 acres; Established liquor store plus additional retail space; Zoned C‑1/O‑2
