Auto Shop With Living
For Sale
$360,000
417 W Ash St, Lexington, OK 73051
Two-level commercial property combines automotive service space with adaptable rooms for office or residential use.
Property Size2,400 SF
Price / SF$150
Days on Market27
Property Features for 417 W Ash St
General Information
Standard status
Active
Size
2,400 SF
Additional Details
Drive-In Doors
3
Amenities
drive-through access
three garage doors
office area
bathroom
waiting room
kitchenette
dining area
lounge
five rooms
Building Details
Stories
2
Listing Agency:
Musgrave Real Estate
(405) 201-6823
Listed By:
Leanne Heck
(405) 201-6823
Source:
Exprealty
Added: Jul 28
Changed: Aug 21
Last Checked: Aug 23 at 5:28AM
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 Musgrave Real Estate
Investment Insights
Based on property information with market context.
This 2,400-square-foot auto shop includes a functional lower level arranged for automotive service operations. The main work area has three garage doors with drive-through access, along with an office, restroom, and customer waiting room.
The second level adds a separate flexible area that can support office functions or living use. Its layout includes a kitchenette, dining space, lounge, and five additional rooms suitable for private offices, meetings, or residential rooms. The combination of service space and upper-level accommodations creates a distinct two-level configuration for an owner-operator or other commercial user. Business equipment is reserved by the seller, with some items open for negotiation.
The second level adds a separate flexible area that can support office functions or living use. Its layout includes a kitchenette, dining space, lounge, and five additional rooms suitable for private offices, meetings, or residential rooms. The combination of service space and upper-level accommodations creates a distinct two-level configuration for an owner-operator or other commercial user. Business equipment is reserved by the seller, with some items open for negotiation.
Key Highlights
- 2,400 SF automotive property with upper‑level flexible space
- Three garage doors provide drive‑through access
- Lower level includes office, bathroom, and waiting room
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
$31,652
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
8.79%
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%
$633,040
$633.0K
Cap Rate 7%
$452,171
$452.2K
Cap Rate 9%
$351,689
$351.7K
Market Conditions
NOI Build-Up for 2,400 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
$46.9K $19.56/SF
− Vacancy
−$4.7K −$1.98/SF
EGI
$42.2K $17.58/SF
− OpEx
−$10.6K −$4.40/SF
NOI
$31.7K $13.19/SF
Area
Cleveland County, OK
Vacancy
10.10%
Lease Rate
$19.56 /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%
$633,040
Cap Rate 7%
$452,171
Cap Rate 9%
$351,689
Alternative Uses
Best Use
Office B
$452.2K
$395.7K – $527.5K
NOI $31,652 @ 7.0% cap · market cap 8.79%
Second Best
Flex RnD
$427.0K
$373.6K – $498.2K
NOI $29,889 @ 7.0% cap · market cap 8.30%
Theoretical Best
Office A
$590.2K
$516.4K – $688.6K
NOI $41,313 @ 7.0% cap · market cap 11.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Drive-in doors
Location Intelligence
Trade Area within ½ mile
99
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 73051, OK
9,541
Population
3,210
Households
3
Avg Household Size
42
Median Age
12%
College-Educated
83%
High-School Grad
126.7 sq mi
ZIP Area
75
Density / Sq Mi
$65,074
Median Household Income
$37,857
Median Earnings
$934
Median Rent
$152,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Davis Automotive/ Sarah’s Auto Detailing — 122 NE 3rd St, Lexington, OK 73051
- LOS BROTHERS NEW AND USED TIRES — 417 W Ash St, Lexington, OK 73051
- Lexington Salvage & Wrecker Sv — 821 N Main St, Lexington, OK 73051
- Dat Muffler Shop — 202 W Broadway St, Lexington, OK 73051
- Herb Engdahl Motor Co — 114 E Ash St, Lexington, OK 73051
Frequently Asked Questions
What type of property is this?
Auto shop - Two-level commercial property combines automotive service space with adaptable rooms for office or residential use.
Where is this auto shop located?
The property is located at 417 W Ash St Lexington, OK.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: 2,400 SF automotive property with upper‑level flexible space; Three garage doors provide drive‑through access; Lower level includes office, bathroom, and waiting room
