Freestanding Spa & Wellness
New
For Sale
Contact for pricing
91 MONROE AVE NE, Piedmont, OK 73078
Salon-ready commercial building with private offices, client amenities, dedicated parking, and a separate boutique area with drive-through access.
Property Size3,150 SF
Price / SF$198.41
Days on Market7
Property Features for 91 MONROE AVE NE
General Information
Standard status
Active
Size
3,150 SF
Class
A
Total Parking Spaces
12
Property subtype
Retail, Special Purpose
Zoning
C3
Building Details
Year Built
2007
Year Renovated
2018
Buildings
1
Stories
1
Units
1
Listing Agency:
CENTURY 21 Goodyear Green
Listed By:
Tami ZumMallen · License #OK 175626
(405) 426-2206
Source:
Crexi
Added: Aug 28
Changed: Sep 1
Last Checked: Sep 1 at 9:04PM
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 CENTURY 21 Goodyear Green
Investment Insights
Based on property information with market context.
This freestanding spa and wellness property offers 3,150 square feet of commercial space in a 2007 building zoned C3. The interior includes nine equipped styling stations, three wash stations, two additional wash stations for specialized services, three private offices, a kitchenette, and two restrooms. Exposed ceilings with visible ductwork, recessed LED lighting, a 200-amp electrical panel, a 5-ton package HVAC unit, two hot water tanks, and a rear entrance support the existing configuration.
A separate 450-square-foot boutique shop includes a drive-through window and can function as an additional commercial component. The property also provides 11 dedicated parking spaces, including one ADA-compliant space, along with semi-private alley parking. The rocked alley and wall packs are located on the north side of the property at 91 Monroe Ave NE in Piedmont, Oklahoma.
A separate 450-square-foot boutique shop includes a drive-through window and can function as an additional commercial component. The property also provides 11 dedicated parking spaces, including one ADA-compliant space, along with semi-private alley parking. The rocked alley and wall packs are located on the north side of the property at 91 Monroe Ave NE in Piedmont, Oklahoma.
Key Highlights
- 3,150‑square‑foot freestanding commercial building constructed in 2007
- Nine equipped styling stations, three wash stations, and two additional wash stations
- Three private offices, kitchenette, two restrooms, and a rear entrance
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
$30,418
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
4.87%
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%
$608,360
$608.4K
Cap Rate 7%
$434,543
$434.5K
Cap Rate 9%
$337,978
$338.0K
Market Conditions
NOI Build-Up for 3,150 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
$45.4K $14.40/SF
− Vacancy
−$1.9K −$0.60/SF
EGI
$43.5K $13.80/SF
− OpEx
−$13.0K −$4.14/SF
NOI
$30.4K $9.66/SF
Area
Canadian County, OK
Vacancy
4.20%
Lease Rate
$14.40 /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%
$608,360
Cap Rate 7%
$434,543
Cap Rate 9%
$337,978
Alternative Uses
Best Use
Retail
$434.5K
$380.2K – $507.0K
NOI $30,418 @ 7.0% cap · market cap 4.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$685.9K
$600.2K – $800.2K
NOI $48,012 @ 7.0% cap · market cap 7.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
174
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 73078, OK
12,069
Population
4,683
Households
2.6
Avg Household Size
35
Median Age
35%
College-Educated
92%
High-School Grad
64.9 sq mi
ZIP Area
186
Density / Sq Mi
$97,197
Median Household Income
$54,181
Median Earnings
$1,657
Median Rent
$288,800
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
- VENTURIS CHIROPRACTIC & PROLOTHERAPY — 111 Monroe Ave NW, Piedmont, OK 73078
Frequently Asked Questions
What type of property is this?
Spa & wellness property - Salon-ready commercial building with private offices, client amenities, dedicated parking, and a separate boutique area with drive-through access.
Where is this spa & wellness property located?
The property is located at 91 MONROE AVE NE Piedmont, OK.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 3,150‑square‑foot freestanding commercial building constructed in 2007; Nine equipped styling stations, three wash stations, and two additional wash stations; Three private offices, kitchenette, two restrooms, and a rear entrance
