Church Facility with Daycare
For Sale
$325,000
823 S 3rd Ave, Stroud, OK 74079
Flexible interior includes worship, classroom, office, and meeting areas.
Property Size2,243 SF
Price / SF$144.90
Days on Market44
Property Features for 823 S 3rd Ave
General Information
Standard status
Active
Size
2,243 SF
Amenities
storm shelter
playground
Building Details
Year Built
1992
Buildings
1
Listing Agency:
LIME Realty
(704) 609-1395
Listed By:
Robert Lester · License #182628
Source:
Alloverok
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 30 at 9:00PM
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 LIME Realty
Investment Insights
Based on property information with market context.
Located at 823 S 3rd Ave in Stroud, Oklahoma, this church facility was built in 1992 and includes multiple rooms arranged for varied community and operational functions. The interior provides space for worship services, classrooms, offices, and meetings, along with a fully functional kitchen and two bathrooms.
Part of the building is currently used for a daycare business, with access to an on-site playground. A storm shelter is also included, along with ample parking. The property offers a combination of religious, childcare, and community-oriented features within one facility, with access to local amenities and major roadways.
Part of the building is currently used for a daycare business, with access to an on-site playground. A storm shelter is also included, along with ample parking. The property offers a combination of religious, childcare, and community-oriented features within one facility, with access to local amenities and major roadways.
Key Highlights
- Church facility at 823 S 3rd Ave, Stroud, OK 74079
- Built in 1992 with multiple flexible‑use rooms
- Two bathrooms and a fully functional kitchen
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
$27,252
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
8.39%
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%
$545,040
$545.0K
Cap Rate 7%
$389,314
$389.3K
Cap Rate 9%
$302,800
$302.8K
Market Conditions
NOI Build-Up for 2,243 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
$48.4K $21.60/SF
− Vacancy
−$4.8K −$2.16/SF
EGI
$43.6K $19.44/SF
− OpEx
−$16.4K −$7.29/SF
NOI
$27.3K $12.15/SF
Area
Lincoln County, OK
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$545,040
Cap Rate 7%
$389,314
Cap Rate 9%
$302,800
Alternative Uses
Best Use
Mixed Use
$389.3K
$340.7K – $454.2K
NOI $27,252 @ 7.0% cap · market cap 8.39%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$542.2K
$474.4K – $632.5K
NOI $37,952 @ 7.0% cap · market cap 11.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
47
Businesses Nearby
Explore this area
Business Placement
Demographics for 74079, OK
4,532
Population
2,036
Households
2.2
Avg Household Size
41
Median Age
19%
College-Educated
92%
High-School Grad
186.8 sq mi
ZIP Area
24
Density / Sq Mi
$65,000
Median Household Income
$40,789
Median Earnings
$732
Median Rent
$162,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Church & religious facility - Flexible interior includes worship, classroom, office, and meeting areas.
Where is this church & religious facility located?
The property is located at 823 S 3rd Ave Stroud, OK.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Church facility at 823 S 3rd Ave, Stroud, OK 74079; Built in 1992 with multiple flexible‑use rooms; Two bathrooms and a fully functional kitchen
