Building Details

Building Size 2,726 SF

Year Built 1993

Units 1

Listing Agency: Fleske Commercial Group

Listed By: Kendra Streeter · License ##182589 Show Phone

Source: Commercialcafe

Added: Jul 20 Changed: Oct 15 Last Checked: Oct 16 at 6:09AM

Report an Issue

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 Fleske Commercial Group

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 1993 commercial building contains 2,726 SF on a 2.19-acre corner site in Lexington. The interior includes an open retail area, office, storage, kitchenette, and paved parking, while an existing drive-through adds another operational feature. Excess land remains available for future expansion or redevelopment.

The property fronts E. Broadway at State Highway 39 and is positioned near I-35. Its configuration supports a range of retail, restaurant, medical, and service-oriented uses, with the building and site providing both existing improvements and additional land area.

Key Highlights

• 2,726 SF commercial building constructed in 1993
• 2.19‑acre corner site with excess land for expansion or redevelopment
• Existing drive‑through and paved parking

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$39,172

Cap Rate

8.90%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$783,440 $783.4K

Cap Rate 7%

$559,600 $559.6K

Cap Rate 9%

$435,244 $435.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,726 SF

Gross rent

$58.2K $21.36/SF

− Vacancy

−$6.0K −$2.20/SF

EGI

$52.2K $19.16/SF

− OpEx

−$13.1K −$4.79/SF

NOI

$39.2K $14.37/SF

Area

Cleveland County, OK

Vacancy

10.30%

Lease Rate

$21.36 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$783,440

Cap Rate 7%

$559,600

Cap Rate 9%

$435,244

Alternative Uses

Best Use

Specialty Retail

$559.6K

$489.7K – $652.9K (±1% cap)

NOI $39,172 @ 7.0% cap · market cap 8.90%

Second Best

Retail

$388.5K

$339.9K – $453.2K (±1% cap)

NOI $27,192 @ 7.0% cap · market cap 6.18%

Theoretical Best

Office A

$670.4K

$586.6K – $782.1K (±1% cap)

NOI $46,925 @ 7.0% cap · market cap 10.66%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Drug stores

Suggested Use

Top Pick Big Box & Wholesale Store Furniture & Home Goods Kitchen & Bath Showroom Storage Facility Hair Salon HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

110

Businesses Nearby

18k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 58% Dining 42%

SONIC Drive In Dining

7,473 visits/mo 0.2 miles

Dollar General Shops & Services

6,568 visits/mo 0.1 miles

Valero Energy Shops & Services

3,715 visits/mo 0.0 miles

Demographics for 73051, OK

9,541

Population

3,210

Households

3

Avg Household Size

42

Median Age

12%

College-Educated

83%

High-School Grad

126.7 sq mi

ZIP Area

75

Density / Sq Mi

$65,074

Median Household Income

$37,857

Median Earnings

$934

Median Rent

$152,900

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Similar For Sale Nearby

See more

15-Unit Self-Storage Facility

230 Us Highway 77, Lexington, OK 73051

$275,000

3,675 SF

View details

Restaurant Building with Covered Porches

10520 Us Highway 77, Lexington, OK 73051

$250,000

3,567 SF

View details

Cannabis Grow Facility with Live-Work

18851 Deercreek Rd, Lexington, OK 73051

$399,950

7,056 SF

View details

Climatized Industrial Facility

700 N Main St, Lexington, OK 73051

Contact for pricing

13,715 SF

View details

Frequently Asked Questions

What type of property is this?

Drug store - Corner commercial building with paved parking, support areas, and additional land for expansion or redevelopment.

Where is this drug store located?

The property is located at 700 E Broadway St Lexington, OK.

What is the asking price?

The asking price for this property is $440,000.

What are key features of this property?

This property features: 2,726 SF commercial building constructed in 1993; 2.19‑acre corner site with excess land for expansion or redevelopment; Existing drive‑through and paved parking