Building Details

Year Built 1972

Listing Agency: I Sell Houses Real Estate Co

Listed By: Emily King · License #183227 Show Phone

Source: Initialpointrealtyok

Added: May 8 Changed: Oct 5 Last Checked: Oct 7 at 3:27PM

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Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This for-sale property includes two separate buildings with two addresses. The main building was most recently used as a dispensary, and the sale includes existing items, fixtures, and equipment. The secondary building has separate utilities, offering flexibility in how the spaces can be operated.

The property is described as having highway frontage and is zoned Light Industrial.

With two buildings and separate utilities for the secondary structure, the site supports arrangements for one business or multiple operations under the existing zoning.

Key Highlights

• Two separate buildings with two addresses and highway frontage
• Zoned Light Industrial
• Main building most recently used as a dispensary

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$17,506

Cap Rate

5.47%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$350,120 $350.1K

Cap Rate 7%

$250,086 $250.1K

Cap Rate 9%

$194,511 $194.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,153 SF

Gross rent

$28.4K $13.20/SF

− Vacancy

−$3.4K −$1.58/SF

EGI

$25.0K $11.62/SF

− OpEx

−$7.5K −$3.48/SF

NOI

$17.5K $8.13/SF

Area

Carter County, OK

Vacancy

12.00%

Lease Rate

$13.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$350,120

Cap Rate 7%

$250,086

Cap Rate 9%

$194,511

Alternative Uses

Best Use

Retail

$250.1K

$218.8K – $291.8K (±1% cap)

NOI $17,506 @ 7.0% cap · market cap 5.47%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$552.2K

$483.1K – $644.2K (±1% cap)

NOI $38,651 @ 7.0% cap · market cap 12.08%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Retail space

Suggested Use

Top Pick Dental Office Storage Facility Big Box & Wholesale Store Pharmacy Cafe & Coffee Shop Daycare Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

13

Businesses Nearby

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

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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Frequently Asked Questions

What type of property is this?

Retail space - Two-building property with highway frontage and separate addresses, zoned Light Industrial, with dispensary fixtures included.

Where is this retail space located?

The property is located at 5625 W Broadway St Ardmore, OK.

What is the asking price?

The asking price for this property is $320,000.

What are key features of this property?

This property features: Two separate buildings with two addresses and highway frontage; Zoned Light Industrial; Main building most recently used as a dispensary