Former Bank Retail
For Sale
$750,000
400 N Mission St, Sapulpa, OK 74066
Former bank space offering approximately 4,400 SF of retail use in Sapulpa, OK.
Property Size4,400 SF
Price / SF$170.45
Days on Market73
Property Features for 400 N Mission St
General Information
Standard status
Active
Size
4,400 SF
Property subtype
Retail
Building Details
Building Size
4,400 SF
Year Built
1983
Listing Agency:
McGraw Commercial Properties | Tulsa
Listed By:
Drew Dossey, CCIM · License ##174020
(918) 740-7707
Source:
Mcgrawcp
Added: Jun 25
Changed: Sep 4
Last Checked: Sep 5 at 5:15AM
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 McGraw Commercial Properties | Tulsa
Investment Insights
Based on property information with market context.
This property is a former bank building currently marketed as retail space. The offering includes approximately 4,400 SF, providing a ready-to-lease or repositioned footprint for a commercial user.
The site is located at 400 N Mission St in Sapulpa, Oklahoma, where it can serve as a storefront-type location for retail operations.
As a single property sale, it presents an opportunity to acquire a bank-to-retail conversion asset with a defined, existing interior layout and retail-oriented address.
The site is located at 400 N Mission St in Sapulpa, Oklahoma, where it can serve as a storefront-type location for retail operations.
As a single property sale, it presents an opportunity to acquire a bank-to-retail conversion asset with a defined, existing interior layout and retail-oriented address.
Key Highlights
- Year built: 1983
- Former bank space with approximately 4,400 SF of retail use
- Sapulpa, OK retail property
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
$57,618
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
7.68%
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%
$1,152,360
$1.2M
Cap Rate 7%
$823,114
$823.1K
Cap Rate 9%
$640,200
$640.2K
Market Conditions
NOI Build-Up for 4,400 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
$79.2K $18.00/SF
− Vacancy
−$2.4K −$0.54/SF
EGI
$76.8K $17.46/SF
− OpEx
−$19.2K −$4.37/SF
NOI
$57.6K $13.10/SF
Area
Creek County, OK
Vacancy
3.00%
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%
$1,152,360
Cap Rate 7%
$823,114
Cap Rate 9%
$640,200
Alternative Uses
Best Use
Specialty Retail
$823.1K
$720.2K – $960.3K
NOI $57,618 @ 7.0% cap · market cap 7.68%
Second Best
Retail
$193.7K
$169.5K – $226.0K
NOI $13,557 @ 7.0% cap · market cap 1.81%
Theoretical Best
Office A
$1.08M
$946.8K – $1.26M
NOI $75,741 @ 7.0% cap · market cap 10.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
633
Businesses Nearby
109k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 50%
Shops & Services 48%
Home Improvements & Furnishings 1%
Electronics 1%
QuikTrip
Shops & Services
38,543 visits/mo
0.4 miles
SONIC Drive In
Dining
14,034 visits/mo
0.4 miles
Taco Bell
Dining
12,455 visits/mo
0.4 miles
Arby's
Dining
10,820 visits/mo
0.4 miles
Dollar General
Shops & Services
9,326 visits/mo
0.5 miles
Demographics for 74066, OK
31,255
Population
13,736
Households
2.3
Avg Household Size
41
Median Age
19%
College-Educated
91%
High-School Grad
123.6 sq mi
ZIP Area
253
Density / Sq Mi
$64,351
Median Household Income
$41,245
Median Earnings
$1,000
Median Rent
$168,300
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?
Bank - Former bank space offering approximately 4,400 SF of retail use in Sapulpa, OK.
Where is this bank located?
The property is located at 400 N Mission St Sapulpa, 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: Year built: 1983; Former bank space with approximately 4,400 SF of retail use; Sapulpa, OK retail property
