Restaurant with Large Parking
6616 N Western Ave Oklahoma City, OK
6616 N Western Ave, Oklahoma City, OK, 00000
Contact for pricing
For Sale
Contact for pricing
Single tenant restaurant with ample parking in Nichols Hills.
Property Size6,035 SF
Lot Size2.16 Acres
Price / SF$347.97
Days on Market1454
Property Features for 6616 N Western Ave
General Information
- Standard status
- Active
- Size
- 6,035 SF
- Lot size
- 2.16 Acres
- Property subtype
- RETAIL
Listing Agency
Price Edwards and Company - Oklahoma City
(405) 226-5467
Listed by
Paul Ravencraft · License #OK 078872
(405) 226-5467
Source
Moodyscre
Added: Jul 27, 2022 Checked: Jul 19 at 2:24 am
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 Price Edwards and Company - Oklahoma City
Investment Insights
Based on property information with market context.
This single-tenant restaurant property includes a 32,025 square foot (MOL) parking lot, offering a parking ratio of 14 per 1000. It is situated in Nichols Hills, benefiting from traffic counts of 19,603 cars per day on Western Avenue and 14,325 cars per day on NW 63rd Street. The property is located one mile from Interstate 77 and Interstate 44 and is surrounded by multiple retailers. The building size is 6,035 square feet.
Key Highlights
- Single tenant restaurant property
- Large 32,025 sf (mol) parking lot
- Located in nichols hills
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $202.8k | $33.60 |
| − Vacancy | −$10.1k | −$1.68 |
| EGI | $192.6k | $31.92 |
| − OpEx | −$48.2k | −$7.98 |
| NOI | $144.5k | $23.94 |
6,035 SF · lease $33.60/SF/yr · vacancy 5.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.06M
$1.81M – $2.41M
NOI $144,478 @ 7.0% cap · market cap 6.88%
Second Best
Retail
$1.70M
$1.49M – $1.99M
NOI $119,131 @ 7.0% cap · market cap 5.67%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Ramina Golshani, DDS
Dental Office
Oklahoma City Dental
Dental Office
Colin Young
Dental Office
Jae Woo Choi
Dental Office
Geoffreysouthern Cameron Sloat
Dental Office
Similar For Sale Nearby
FAQs
What type of property is this?
Restaurant - Single tenant restaurant with ample parking in Nichols Hills.
Where is this restaurant located?
The property is located at 6616 N Western Ave Oklahoma City, OK.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Single tenant restaurant property; Large 32,025 sf (mol) parking lot; Located in nichols hills
