New Duplexes on Moore
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615 W Moore Ave, Enid, OK 73701
Planned duplex development with the initial homes scheduled for rental readiness in 2026.
Property Size2,420 SF
Price / SF$169.42
Days on Market148
Property Features for 615 W Moore Ave
General Information
Standard status
Active
Size
2,420 SF
Property subtype
Multifamily
Building Details
Year Built
2026
Listing Agency:
Cummins-Setters Commercial Partners
Listed By:
Kip Cummins · License #OK176412
Source:
Crexi
Added: Apr 8
Changed: Aug 30
Last Checked: Sep 2 at 7:30AM
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 Cummins-Setters Commercial Partners
Investment Insights
Based on property information with market context.
This offering consists of newly constructed duplex residences totaling 2,420 square feet per property, with construction identified for 2026. The initial phase includes five duplexes scheduled for completion and rental readiness as of March 1, 2026.
The property is located at 615 W Moore Ave in Enid, Oklahoma, providing a defined residential address for the planned duplex development.
The property is located at 615 W Moore Ave in Enid, Oklahoma, providing a defined residential address for the planned duplex development.
Key Highlights
- Five duplexes scheduled for completion and rental readiness as of March 1, 2026
- 2,420 square feet per duplex
- Year built: 2026
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
$12,650
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
3.09%
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%
$253,000
$253.0K
Cap Rate 7%
$180,714
$180.7K
Cap Rate 9%
$140,556
$140.6K
Market Conditions
NOI Build-Up for 2,420 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
$19.5K $8.04/SF
− Vacancy
−$1.4K −$0.57/SF
EGI
$18.1K $7.47/SF
− OpEx
−$5.4K −$2.24/SF
NOI
$12.7K $5.23/SF
Area
Garfield County, OK
Vacancy
7.12%
Lease Rate
$8.04 /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%
$253,000
Cap Rate 7%
$180,714
Cap Rate 9%
$140,556
Alternative Uses
Best Use
Multifamily LT 5
$180.7K
$158.1K – $210.8K
NOI $12,650 @ 7.0% cap · market cap 3.09%
Second Best
Apartment 5plus
$166.7K
$145.9K – $194.5K
NOI $11,672 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$666.5K
$583.2K – $777.5K
NOI $46,652 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
17
Businesses Nearby
Explore this area
Business Placement
Demographics for 73701, OK
24,744
Population
10,924
Households
2.3
Avg Household Size
34
Median Age
13%
College-Educated
80%
High-School Grad
145.2 sq mi
ZIP Area
170
Density / Sq Mi
$51,497
Median Household Income
$31,495
Median Earnings
$788
Median Rent
$99,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Planned duplex development with the initial homes scheduled for rental readiness in 2026.
Where is this duplex located?
The property is located at 615 W Moore Ave Enid, OK.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Five duplexes scheduled for completion and rental readiness as of March 1, 2026; 2,420 square feet per duplex; Year built: 2026
