Insulated Flex
For Sale
$112,000
Pending
620 E Broadway, Enid, OK 73701
COMMERCIAL - Enid, OK
Property Size1,200 SF
Lot Size0.17 Acres
Days on Market109
Property Features for 620 E Broadway
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot
Subdivision
Enid Original
Lot features
Freestanding
Standard status
Pending
Lot size
0.17 Acres
Amenities
half bath
utility sink
washing machine hookup
floor drain
concrete pad
Building Details
Year built
2015
Floors in Building
1
Flooring type
Concrete
Roof type
Metal
Listing Agency:
Coldwell Banker Realty III, LLC · Coldwell Banker Real Estate
(580) 233-8833
Listed By:
Susan Root · License #OK134268
(580) 747-0079
Added: May 13
Changed: Aug 4
Last Checked: Aug 29 at 8:06AM
MLS# 20260612
Copyright © 2026 Northwest Oklahoma Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2015, this insulated flex space includes a 30 x 40 shop with 14' sidewalls, concrete flooring, and a half bath. The building has a 200 amp electrical service, metal roof, utility sink, washing machine hookup, and floor drain. A 16'2" x 12" garage door with opener provides shop access.
The 0.17-acre property includes a large concrete pad and front parking lot. Alley access is possible, adding another point of entry to the site. C-3 zoning supports its commercial classification.
The 0.17-acre property includes a large concrete pad and front parking lot. Alley access is possible, adding another point of entry to the site. C-3 zoning supports its commercial classification.
Key Highlights
- 30 x 40 insulated shop with 14' sidewalls
- 200 amp electrical service
- 16'2" x 12" garage door with opener
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
$7,422
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
6.63%
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%
$148,440
$148.4K
Cap Rate 7%
$106,029
$106.0K
Cap Rate 9%
$82,467
$82.5K
Market Conditions
NOI Build-Up for 1,200 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
$11.4K $9.48/SF
− Vacancy
−$774 −$0.64/SF
EGI
$10.6K $8.84/SF
− OpEx
−$3.2K −$2.65/SF
NOI
$7.4K $6.18/SF
Area
Garfield County, OK
Vacancy
6.80%
Lease Rate
$9.48 /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%
$148,440
Cap Rate 7%
$106,029
Cap Rate 9%
$82,467
Alternative Uses
Best Use
Industrial
$106.0K
$92.8K – $123.7K
NOI $7,422 @ 7.0% cap · market cap 6.63%
Second Best
Flex RnD
$99.5K
$87.1K – $116.1K
NOI $6,964 @ 7.0% cap · market cap 6.22%
Theoretical Best
Office A
$330.5K
$289.2K – $385.6K
NOI $23,133 @ 7.0% cap · market cap 20.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
1,235
Businesses Nearby
Under-served
Demand for This Use
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 Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Flex space - C-3-zoned property with a half bath, utility sink, and large front concrete parking area.
Where is this flex space located?
The property is located at 620 E Broadway Enid, OK.
What is the asking price?
The asking price for this property is $112,000.
What are key features of this property?
This property features: 30 x 40 insulated shop with 14' sidewalls; 200 amp electrical service; 16'2" x 12" garage door with opener
