Historic Mixed-Use
For Sale
$665,000
9 W Main St, Ardmore, OK 73401
Remodeled office space is paired with an upper-level apartment for a live-work configuration.
Property Size4,201 SF
Price / SF$158.30
Days on Market43
Property Features for 9 W Main St
General Information
Standard status
Active
Size
4,201 SF
Building Details
Year Built
1920
Listing Agency:
RE/MAX Lake Country
(580) 221-1733
Listed By:
Georganne Westfall · License #146961
Source:
Cheathamrealty
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 30 at 7:19PM
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.
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 = 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
$55,806
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%
$1,116,120
$1.1M
Cap Rate 7%
$797,229
$797.2K
Cap Rate 9%
$620,067
$620.1K
Market Conditions
NOI Build-Up for 4,201 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
$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 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%
$1,116,120
Cap Rate 7%
$797,229
Cap Rate 9%
$620,067
Alternative Uses
Best Use
Office B
$797.2K
$697.6K – $930.1K
NOI $55,806 @ 7.0% cap · market cap 8.39%
Second Best
Mixed Use
$714.6K
$625.3K – $833.7K
NOI $50,024 @ 7.0% cap · market cap 7.52%
Theoretical Best
Office A
$1.08M
$942.7K – $1.26M
NOI $75,416 @ 7.0% cap · market cap 11.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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 $665,000.
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
