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Building Details

Year Built 1920

Listing Agency: RE/MAX Lake Country

Listed By: Georganne Westfall · License #146961 Show Phone

Source: Cheathamrealty

Added: Jul 20 Changed: Sep 14 Last Checked: Oct 7 at 3:55PM

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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 RE/MAX Lake Country

Investment Insights

Based on property information with market context.

Built in 1920, this downtown mixed-use property combines a remodeled office component with a residential apartment above. The ground floor includes a reception area, commons area, and two restrooms, creating a functional office layout within a historic building.

The upper level features a 2-bedroom, 2-bath apartment with an open living area, modern kitchen, wood floors, stained-glass windows, a skylight, high ceilings, a loft, and a reading nook. The property is located at 9 W Main St in downtown Ardmore, near dining, shopping, and entertainment. Its office-and-apartment configuration supports a live-work arrangement or separate use of the residential space.

Key Highlights

• Mixed‑use building constructed in 1920
• Remodeled ground‑floor office space
• Office layout includes reception, commons area, and two restrooms

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$55,806

Cap Rate

9.15%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,116,120 $1.1M

Cap Rate 7%

$797,229 $797.2K

Cap Rate 9%

$620,067 $620.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,201 SF

Gross rent

$90.7K $21.60/SF

− Vacancy

−$16.3K −$3.89/SF

EGI

$74.4K $17.71/SF

− OpEx

−$18.6K −$4.43/SF

NOI

$55.8K $13.28/SF

Area

Carter County, OK

Vacancy

18.00%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,116,120

Cap Rate 7%

$797,229

Cap Rate 9%

$620,067

Alternative Uses

Best Use

Office B

$797.2K

$697.6K – $930.1K (±1% cap)

NOI $55,806 @ 7.0% cap · market cap 9.15%

Second Best

Mixed Use

$714.6K

$625.3K – $833.7K (±1% cap)

NOI $50,024 @ 7.0% cap · market cap 8.20%

Theoretical Best

Office A

$1.08M

$942.7K – $1.26M (±1% cap)

NOI $75,416 @ 7.0% cap · market cap 12.36%

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

Property Analytics

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Open Analytics

Current Use

Jason D. May, ... Law Firm Blake Bush Family ... Physician Kelsey Crawford Physician Kelsey Rae Crawford Physician Justin Ramsey - Ameriprise ... Financial Advisor

Suggested Use

Top Pick Dental Office Storage Facility Parking Lot & Garage Big Box & Wholesale Store Grocery & Convenience Store Hotel & Motel

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

Location Intelligence

Trade Area within ½ mile

989

Businesses Nearby

Explore this area Business Placement

Demographics for 73401, OK

36,744

Population

16,349

Households

2.2

Avg Household Size

41

Median Age

23%

College-Educated

88%

High-School Grad

351.5 sq mi

ZIP Area

105

Density / Sq Mi

$60,288

Median Household Income

$39,005

Median Earnings

$960

Median Rent

$174,700

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Remodeled office space is paired with an upper-level apartment for a live-work configuration.

Where is this mixed-use property located?

The property is located at 9 W Main St Ardmore, OK.

What is the asking price?

The asking price for this property is $610,000.

What are key features of this property?

This property features: Mixed‑use building constructed in 1920; Remodeled ground‑floor office space; Office layout includes reception, commons area, and two restrooms