Former Grocery/Retail Space
For Sale
Contact for pricing
7201 NW 23rd St, Bethany, OK 73008
8,505 SF former grocery/retail space for sale.
Property Size8,505 SF
Price / SF$141.45
Days on Market192
Property Features for 7201 NW 23rd St
General Information
Standard status
Active
Size
8,505 SF
Property subtype
Retail
Zoning
C-3
Lease Type
NNN
Building Details
Year Built
2014
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
NAI Red
(405) 840-0600
Listed By:
David Hartnack · License #OK 152924
Source:
Crexi
Added: Jan 29
Changed: Aug 8
Last Checked: Aug 8 at 6:33AM
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 NAI Red
Investment Insights
Based on property information with market context.
This property, formerly a grocery and retail space (previously a Family Dollar), offers 8,505 square feet of commercial real estate. It is located at 7201 NW 23rd St, Bethany, OK 73008.
Key Highlights
- Built in 2014
- Former Grocery/Retail Space
- Previously used as Family Dollar
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
$89,771
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
7.46%
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%
$1,795,420
$1.8M
Cap Rate 7%
$1,282,443
$1.3M
Cap Rate 9%
$997,456
$997.5K
Market Conditions
NOI Build-Up for 8,505 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
$141.9K $16.68/SF
− Vacancy
−$13.6K −$1.60/SF
EGI
$128.2K $15.08/SF
− OpEx
−$38.5K −$4.52/SF
NOI
$89.8K $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%
$1,795,420
Cap Rate 7%
$1,282,443
Cap Rate 9%
$997,456
Alternative Uses
Best Use
Retail
$1.28M
$1.12M – $1.50M
NOI $89,771 @ 7.0% cap · market cap 7.46%
Second Best
Specialty Retail
$1.28M
$1.12M – $1.49M
NOI $89,462 @ 7.0% cap · market cap 7.44%
Theoretical Best
Office A
$1.77M
$1.55M – $2.07M
NOI $124,000 @ 7.0% cap · market cap 10.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
596
Businesses Nearby
51k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 43%
Dining 29%
Groceries 28%
7-Eleven
Shops & Services
20,471 visits/mo
0.5 miles
Aldi
Groceries
14,200 visits/mo
0.2 miles
Braum's Ice Cream & Dairy Stores
Dining
13,031 visits/mo
0.4 miles
Pizza Hut
Dining
1,973 visits/mo
0.4 miles
U-Haul Moving & Storage Of Bethany
Shops & Services
1,454 visits/mo
0.4 miles
Demographics for 73008, OK
21,592
Population
8,774
Households
2.5
Avg Household Size
35
Median Age
23%
College-Educated
86%
High-School Grad
7.5 sq mi
ZIP Area
2,879
Density / Sq Mi
$55,981
Median Household Income
$35,320
Median Earnings
$1,072
Median Rent
$163,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Star Super Market — 6712 NW 23rd St, Bethany, OK 73008
- Star Super Market Indian African Groceries — 6714 NW 23rd St, Oklahoma City, OK 73141
- Cash Saver — 7101 NW 23rd St, Bethany, OK 73008
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - 8,505 SF former grocery/retail space for sale.
Where is this grocery and convenience store located?
The property is located at 7201 NW 23rd St Bethany, OK.
What is the asking price?
The asking price for this property is $1,203,000.
What are key features of this property?
This property features: Built in 2014; Former Grocery/Retail Space; Previously used as Family Dollar
