Established Italian
For Sale
$750,000
4 South Commerce Street, Ardmore, OK 73401
Operating restaurant with commercial kitchen, dining furnishings, and the underlying real estate included.
Property Size2,436 SF
Lot Size0.28 Acres
Price / SF$307.88
Days on Market11
Property Features for 4 South Commerce Street
General Information
Standard status
Active
Size
2,436 SF
Lot size
0.28 Acres
Property subtype
BO
Zoning
Commercial
Financials
Asking Price
$750,000
Business Included
Yes
Restaurant
Seating Capacity
60
Equipment Included
Yes
Additional Details
Furnished
Yes
Building Details
Building Size
2,436 SF
Year Built
1972
Buildings
1
Stories
1
Listing Agency:
Keller Williams North Country
Listed By:
Cami Hobbs Riley · License #0459845
(940) 243-5478
Source:
Realnex
Added: Aug 28
Changed: Sep 6
Last Checked: Sep 7 at 4:30AM
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 Keller Williams North Country
Investment Insights
Based on property information with market context.
The offering combines an operating Italian restaurant with its underlying property. The 2,436-square-foot building was constructed in 1972 on approximately 0.28 acres and provides dining space for approximately 40–60 guests. A commercial kitchen, furnishings, fixtures, and equipment remain in place for continued restaurant operations. The property is zoned Commercial.
The business has operated for approximately 12 years and is supported by a 7-person staff. Ownership is currently structured around semi-absentee oversight, with the owner focused primarily on supervision rather than daily operations. The sale includes both the restaurant business and real estate, with the existing physical setup and operating personnel in place.
The business has operated for approximately 12 years and is supported by a 7-person staff. Ownership is currently structured around semi-absentee oversight, with the owner focused primarily on supervision rather than daily operations. The sale includes both the restaurant business and real estate, with the existing physical setup and operating personnel in place.
Key Highlights
- 2,436 SF restaurant building on approximately 0.28 acres
- Operating history of approximately 12 years
- Dining capacity for approximately 40–60 guests
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
$30,156
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
4.02%
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%
$603,120
$603.1K
Cap Rate 7%
$430,800
$430.8K
Cap Rate 9%
$335,067
$335.1K
Market Conditions
NOI Build-Up for 2,436 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
$43.8K $18.00/SF
− Vacancy
−$3.6K −$1.49/SF
EGI
$40.2K $16.51/SF
− OpEx
−$10.1K −$4.13/SF
NOI
$30.2K $12.38/SF
Area
Carter County, OK
Vacancy
8.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$603,120
Cap Rate 7%
$430,800
Cap Rate 9%
$335,067
Alternative Uses
Best Use
Specialty Retail
$430.8K
$377.0K – $502.6K
NOI $30,156 @ 7.0% cap · market cap 4.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$624.7K
$546.6K – $728.9K
NOI $43,731 @ 7.0% cap · market cap 5.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
913
Businesses Nearby
Under-served
Demand for This Use
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?
Conventional restaurant - Operating restaurant with commercial kitchen, dining furnishings, and the underlying real estate included.
Where is this conventional restaurant located?
The property is located at 4 South Commerce Street Ardmore, OK.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 2,436 SF restaurant building on approximately 0.28 acres; Operating history of approximately 12 years; Dining capacity for approximately 40–60 guests
