Mixed-Use Property with
New
For Sale
$1,100,000
6300 E Reno Ave, Midwest City, OK 73110
Multi-business commercial property with retail operations, dedicated service space, and recent building-system upgrades.
Property Size8,091 SF
Lot Size0.48 Acres
Price / SF$135.95
Days on Market6
Property Features for 6300 E Reno Ave
General Information
Standard status
Active
Size
8,091 SF
Total Parking Spaces
23
Lot size
0.48 Acres
Property subtype
Commercial Building
Additional Details
Business Included
Yes
Sprinkler System
Yes
Amenities
Lot Size Acres: 0.48
Sewer Type: Municipal
Percentage of Tax that is Deductable: 0
Tile Floor
Garage Type: Attached, 3 Garage Spaces
Has Central AC: 1
Forced Air Heating, Gas Heat Fuel
Laundry
Sale, Sale Type: Foreclosure, Availability Date: 2026-08-05
Driveway
Built in 1973, Renovation Year: 2024, Community Laundry, Community Storage, Ground Floor
Neighborhood Name: Midwest City, Subdivision Name: Midwest City
Property Zone Type: 200, Above Area Square Feet: 8091, City View, Corner Lot
Water Source: Municipal, Natural Gas Available, Utilities: 1
Construction Type: Frame
Corner Unit
Aluminum Siding
Building Details
Year Built
1973
Listing Agency:
KirkAngel LLC
(405) 208-7802
Listed By:
Robert Angelo · License #158664
(405) 208-7802
Source:
Doyle-realty
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 9 at 5:07PM
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 KirkAngel LLC
Investment Insights
Based on property information with market context.
This mixed-use commercial property at 6300 E Reno Ave in Midwest City combines an established laundromat, convenience store, and smoke shop within an 8,091-square-foot building on a 20,825 SF lot. The laundromat includes 40 Dexter washers and 20 dryers. The property also offers 23 parking spaces, updated electrical service, separate interior and exterior breakers, accessible lint filtration and drainage systems, a hot water heater and boiler, exterior ventilation, and a reinforced metal safe room.
Recent capital work includes a 2024 roof, 2024 fire suppression system, new HVAC, and full spray foam insulation installed in 2024. The garage and service area feature approximately 20-foot ceilings and three overhead doors, creating additional functional space for storage or service operations. Additional area may accommodate dry-cleaning services or complementary retail uses. The property is surrounded by established neighborhoods and fully occupied apartment communities, with an illuminated roadside sign supporting visibility for the retail businesses.
Recent capital work includes a 2024 roof, 2024 fire suppression system, new HVAC, and full spray foam insulation installed in 2024. The garage and service area feature approximately 20-foot ceilings and three overhead doors, creating additional functional space for storage or service operations. Additional area may accommodate dry-cleaning services or complementary retail uses. The property is surrounded by established neighborhoods and fully occupied apartment communities, with an illuminated roadside sign supporting visibility for the retail businesses.
Key Highlights
- 8,091 SF building on a 20,825 SF lot with 23 parking spaces
- Established laundromat with 40 Dexter washers and 20 dryers
- Convenience store and smoke shop operate within the property
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
$85,401
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
7.76%
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%
$1,708,020
$1.7M
Cap Rate 7%
$1,220,014
$1.2M
Cap Rate 9%
$948,900
$948.9K
Market Conditions
NOI Build-Up for 8,091 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
$135.0K $16.68/SF
− Vacancy
−$13.0K −$1.60/SF
EGI
$122.0K $15.08/SF
− OpEx
−$36.6K −$4.52/SF
NOI
$85.4K $10.56/SF
Area
Oklahoma County, OK
Vacancy
9.60%
Lease Rate
$16.68 /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%
$1,708,020
Cap Rate 7%
$1,220,014
Cap Rate 9%
$948,900
Alternative Uses
Best Use
Retail
$1.22M
$1.07M – $1.42M
NOI $85,401 @ 7.0% cap · market cap 7.76%
Second Best
Specialty Retail
$1.22M
$1.06M – $1.42M
NOI $85,107 @ 7.0% cap · market cap 7.74%
Theoretical Best
Office A
$1.69M
$1.47M – $1.97M
NOI $117,964 @ 7.0% cap · market cap 10.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
511
Businesses Nearby
22k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 43%
Shops & Services 38%
Dining 19%
Goodwill
Apparel
9,574 visits/mo
0.4 miles
Family Dollar
Shops & Services
6,117 visits/mo
0.0 miles
Arby's
Dining
4,288 visits/mo
0.2 miles
Cash America
Shops & Services
2,478 visits/mo
0.5 miles
Demographics for 73110, OK
33,156
Population
15,826
Households
2.1
Avg Household Size
35
Median Age
20%
College-Educated
91%
High-School Grad
15.5 sq mi
ZIP Area
2,139
Density / Sq Mi
$50,436
Median Household Income
$35,043
Median Earnings
$1,007
Median Rent
$119,900
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?
Mixed-use property - Multi-business commercial property with retail operations, dedicated service space, and recent building-system upgrades.
Where is this mixed-use property located?
The property is located at 6300 E Reno Ave Midwest City, OK.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 8,091 SF building on a 20,825 SF lot with 23 parking spaces; Established laundromat with 40 Dexter washers and 20 dryers; Convenience store and smoke shop operate within the property
