Retail Property with Route 66
428 N Dogwood St Luther, OK 73054
428 N Dogwood St, Luther, OK, 73054
$209,900
For Sale
$209,900
Well-maintained retail building plus two additional structures, with updated main space and Route 66 frontage in downtown Luther.
Property Size1,465 SF
Price / SF$143.28
Days on Market80
Property Features for 428 N Dogwood St
General Information
- Standard status
- Active
- Size
- 1,465 SF
Listing agency
Game Changer Real Estate
(405) 623-8836
Listed by
Regina Thompson
(405) 623-8836
Source
Exprealty
Added: May 3 Updated: Jul 20 at 4:26PM Checked: Jul 20 at 4:26PM
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 Game Changer Real Estate
Investment Insights
Based on property information with market context.
Located at 428 N Dogwood St in downtown Luther, this commercial property offers three separate structures designed for flexible use. The main building (approximately 780 sq. ft.) has been updated with septic, electrical, and plumbing improvements, and it features a reception area, two spacious rooms, and a private restroom.
To the west is an additional 300 sq. ft. building that previously operated as a barber shop. It includes its own private bathroom, along with electrical and water hookups, and is ready for HVAC installation. Behind the main building, a third structure (approximately 385 sq. ft.) provides further room for expansion, workspace, or additional income opportunities; it is also equipped with electric and water and ready for HVAC.
The property’s configuration and existing utilities make it well-suited to a range of storefront, office, or specialty uses, anchored by prominent Route 66 frontage.
To the west is an additional 300 sq. ft. building that previously operated as a barber shop. It includes its own private bathroom, along with electrical and water hookups, and is ready for HVAC installation. Behind the main building, a third structure (approximately 385 sq. ft.) provides further room for expansion, workspace, or additional income opportunities; it is also equipped with electric and water and ready for HVAC.
The property’s configuration and existing utilities make it well-suited to a range of storefront, office, or specialty uses, anchored by prominent Route 66 frontage.
Key Highlights
- Commercial property in downtown Luther with Route 66 frontage
- Main building is approx. 780 SF with reception area, two rooms, and a private restroom
- Main building has updated septic plus electrical and plumbing improvements
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $24.4k | $16.68 |
| − Vacancy | −$2.3k | −$1.60 |
| EGI | $22.1k | $15.08 |
| − OpEx | −$5.5k | −$3.77 |
| NOI | $16.6k | $11.31 |
1,465 SF · lease $16.68/SF/yr · vacancy 9.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$236.7K
$207.1K – $276.1K
NOI $16,568 @ 7.0% cap · market cap 7.89%
Second Best
Retail
$220.9K
$193.3K – $257.7K
NOI $15,463 @ 7.0% cap · market cap 7.37%
Theoretical Best
Office A
$305.1K
$267.0K – $356.0K
NOI $21,359 @ 7.0% cap · market cap 10.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Rock'n Vapes
(Bike/Boat/Book/etc) Store
FAQs
What type of property is this?
Storefront property - Well-maintained retail building plus two additional structures, with updated main space and Route 66 frontage in downtown Luther.
Where is this storefront property located?
The property is located at 428 N Dogwood St Luther, OK.
What is the asking price?
The asking price for this property is $209,900.
What are key features of this property?
This property features: Commercial property in downtown Luther with Route 66 frontage; Main building is approx. 780 SF with reception area, two rooms, and a private restroom; Main building has updated septic plus electrical and plumbing improvements
