Stillwater Retail and Restaurant
For Sale
Contact for pricing
601 W 6th Ave., Stillwater, OK 74074
Retail and restaurant spaces near Oklahoma State University.
Property Size4,066 SF
Price / SF$244.71
Days on Market103
Property Features for 601 W 6th Ave.
General Information
Standard status
Active
Size
4,066 SF
Property subtype
Retail
Building Details
Year Built
1972
Year Renovated
1997
Listing Agency:
Newmark Robinson Park
(405) 840-1500
Listed By:
Michael Almaraz · License #OK
Source:
Crexi
Added: May 22
Changed: Aug 14
Last Checked: Aug 30 at 4:34PM
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 Newmark Robinson Park
Investment Insights
Based on property information with market context.
The property, located at 601 & 607 W 6th Ave in Stillwater, OK, offers an opportunity to purchase a retail space and a former restaurant. Positioned on a hard corner parcel three blocks from Oklahoma State University, the property features 140 feet of street frontage along 6th Avenue/Highway 51. The location provides great visibility and ample parking. The small outparcel building is suitable for retail use, while the former restaurant is suitable for continued restaurant use or conversion.
Key Highlights
- Hard corner location just 3 blocks from Oklahoma State University.
- 140 feet of street frontage on 6th Avenue/Highway 51.
- Great visibility.
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
$54,662
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
5.49%
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%
$1,093,240
$1.1M
Cap Rate 7%
$780,886
$780.9K
Cap Rate 9%
$607,356
$607.4K
Market Conditions
NOI Build-Up for 4,066 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
$82.5K $20.28/SF
− Vacancy
−$4.4K −$1.07/SF
EGI
$78.1K $19.21/SF
− OpEx
−$23.4K −$5.76/SF
NOI
$54.7K $13.44/SF
Area
Payne County, OK
Vacancy
5.30%
Lease Rate
$20.28 /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%
$1,093,240
Cap Rate 7%
$780,886
Cap Rate 9%
$607,356
Alternative Uses
Best Use
Retail
$780.9K
$683.3K – $911.0K
NOI $54,662 @ 7.0% cap · market cap 5.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$999.9K
$874.9K – $1.17M
NOI $69,991 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,915
Businesses Nearby
126k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 71%
Groceries 14%
Shops & Services 12%
Beauty & Spa 2%
McDonald's
Dining
29,974 visits/mo
0.3 miles
Sprouts Farmers Market
Groceries
17,594 visits/mo
0.3 miles
Fuzzy's Taco Shop
Dining
10,214 visits/mo
0.3 miles
Wendy's
Dining
10,135 visits/mo
0.2 miles
KFC
Dining
7,920 visits/mo
0.2 miles
Demographics for 74074, OK
32,326
Population
14,328
Households
2.3
Avg Household Size
29
Median Age
51%
College-Educated
96%
High-School Grad
127.4 sq mi
ZIP Area
254
Density / Sq Mi
$50,245
Median Household Income
$26,971
Median Earnings
$965
Median Rent
$247,300
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?
Retail space - Retail and restaurant spaces near Oklahoma State University.
Where is this retail space located?
The property is located at 601 W 6th Ave. Stillwater, OK.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Hard corner location just 3 blocks from Oklahoma State University.; 140 feet of street frontage on 6th Avenue/Highway 51.; Great visibility.
