Two-Tenant Storefront
New
For Sale
$750,000
6503 S Elm Pl, Broken Arrow, OK 74011
Single-building retail asset with on-site parking and flexible month-to-month occupancy.
Property Size2,760 SF
Price / SF$271.74
Days on Market2
Property Features for 6503 S Elm Pl
General Information
Standard status
Active
Size
2,760 SF
Amenities
ample on-site parking
Building Details
Year Built
1982
Buildings
1
Tenancy
Multi
Listing Agency:
Cochran & Co Realtors
Listed By:
Austin Cochran · License #159008
(918) 697-3889
Source:
Cheathamrealty
Added: Sep 11
Last Checked: Sep 11 at 2:45PM
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 Cochran & Co Realtors
Investment Insights
Based on property information with market context.
Located at 6503 S Elm Pl in Broken Arrow, Oklahoma, this 2,760-square-foot storefront property was built in 1982. The single-building layout is occupied by two separate businesses, with each tenancy structured on a month-to-month basis.
The property includes on-site parking and road frontage, supporting convenient customer access. Its existing multi-tenant configuration provides an operating commercial asset with flexibility in future occupancy planning.
The property includes on-site parking and road frontage, supporting convenient customer access. Its existing multi-tenant configuration provides an operating commercial asset with flexibility in future occupancy planning.
Key Highlights
- 2,760‑square‑foot storefront property
- Two separate businesses currently occupy the building
- Both tenancies are month‑to‑month
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
$28,214
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
3.76%
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%
$564,280
$564.3K
Cap Rate 7%
$403,057
$403.1K
Cap Rate 9%
$313,489
$313.5K
Market Conditions
NOI Build-Up for 2,760 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
$44.0K $15.96/SF
− Vacancy
−$3.7K −$1.36/SF
EGI
$40.3K $14.60/SF
− OpEx
−$12.1K −$4.38/SF
NOI
$28.2K $10.22/SF
Area
Broken Arrow, OK
Vacancy
8.50%
Lease Rate
$15.96 /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%
$564,280
Cap Rate 7%
$403,057
Cap Rate 9%
$313,489
Alternative Uses
Best Use
Retail
$403.1K
$352.7K – $470.2K
NOI $28,214 @ 7.0% cap · market cap 3.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$645.6K
$564.9K – $753.2K
NOI $45,192 @ 7.0% cap · market cap 6.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
206
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 74011, OK
31,803
Population
12,898
Households
2.5
Avg Household Size
39
Median Age
41%
College-Educated
96%
High-School Grad
23.8 sq mi
ZIP Area
1,336
Density / Sq Mi
$95,643
Median Household Income
$50,906
Median Earnings
$1,303
Median Rent
$244,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Storefront property - Single-building retail asset with on-site parking and flexible month-to-month occupancy.
Where is this storefront property located?
The property is located at 6503 S Elm Pl Broken Arrow, OK.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 2,760‑square‑foot storefront property; Two separate businesses currently occupy the building; Both tenancies are month‑to‑month
