Two Rented Retail
For Sale
$1,200,000
4707 E Highway 37, Tuttle, OK 73089
Two retail buildings on a property with 199 feet of highway frontage, each with a separate mailing address.
Property Size4,800 SF
Price / SF$250
Days on Market339
Property Features for 4707 E Highway 37
General Information
Standard status
Active
Size
4,800 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Listing Agency:
Whittington Realty
(405) 703-4100
Listed By:
Jennifer J Bullard · License #119283
(405) 408-2613
Source:
Exprealty
Added: Oct 2, 2025
Changed: Aug 31
Last Checked: Sep 5 at 12:39PM
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 Whittington Realty
Investment Insights
Based on property information with market context.
The property includes two separate retail buildings on one tract, with two different mailing addresses: 4707 E Highway 37 and 4709 E Highway 37. Both properties are currently rented to businesses. The listing notes 199 feet of highway frontage.
The buildings are approximately 1/4 mile from the stoplight at Highway 4 (Mustang Rd) and Highway 37. The remarks also state that the neighboring property to the west (4705 E Highway 37) is for sale, which could provide additional highway frontage if combined.
Additional land is described as being available for purchase north of the property. The remarks note 2.12 acres north of the site may be purchased in combination with 4705 E Highway 37 and/or 4707 & 4709 E Highway 37.
The buildings are approximately 1/4 mile from the stoplight at Highway 4 (Mustang Rd) and Highway 37. The remarks also state that the neighboring property to the west (4705 E Highway 37) is for sale, which could provide additional highway frontage if combined.
Additional land is described as being available for purchase north of the property. The remarks note 2.12 acres north of the site may be purchased in combination with 4705 E Highway 37 and/or 4707 & 4709 E Highway 37.
Key Highlights
- Two retail buildings on one property with 199' of highway frontage
- Separate mailing addresses: 4707 E Highway 37 and 4709 E Highway 37
- Both buildings are currently rented to businesses
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
$47,880
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
3.99%
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%
$957,600
$957.6K
Cap Rate 7%
$684,000
$684.0K
Cap Rate 9%
$532,000
$532.0K
Market Conditions
NOI Build-Up for 4,800 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
$72.0K $15.00/SF
− Vacancy
−$3.6K −$0.75/SF
EGI
$68.4K $14.25/SF
− OpEx
−$20.5K −$4.27/SF
NOI
$47.9K $9.98/SF
Area
Grady County, OK
Vacancy
5.00%
Lease Rate
$15.00 /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%
$957,600
Cap Rate 7%
$684,000
Cap Rate 9%
$532,000
Alternative Uses
Best Use
Retail
$684.0K
$598.5K – $798.0K
NOI $47,880 @ 7.0% cap · market cap 3.99%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.16M
$1.02M – $1.35M
NOI $81,216 @ 7.0% cap · market cap 6.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
Explore this area
Business Placement
Demographics for 73089, OK
13,696
Population
5,040
Households
2.7
Avg Household Size
41
Median Age
26%
College-Educated
93%
High-School Grad
106.8 sq mi
ZIP Area
128
Density / Sq Mi
$101,205
Median Household Income
$52,277
Median Earnings
$912
Median Rent
$264,200
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?
Retail space - Two retail buildings on a property with 199 feet of highway frontage, each with a separate mailing address.
Where is this retail space located?
The property is located at 4707 E Highway 37 Tuttle, 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: Two retail buildings on one property with 199' of highway frontage; Separate mailing addresses: 4707 E Highway 37 and 4709 E Highway 37; Both buildings are currently rented to businesses
