Retail Space with Operating
For Sale
$1,200,000
A-3637 N Pennsylvania Ave, Oklahoma City, OK 73107
Includes an established liquor store and a second retail area leased on a month-to-month basis.
Property Size3,700 SF
Lot Size0.45 Acres
Price / SF$324.32
Days on Market155
Property Features for A-3637 N Pennsylvania Ave
General Information
Standard status
Active
Size
3,700 SF
Lot size
0.45 Acres
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$7,300
Building Details
Tenancy
Multi
Listing Agency:
Realty One Group Dreamers
(918) 638-6989
Listed By:
Mary Benway · License #205479
(918) 638-6989
Source:
Exprealty
Added: Mar 31
Changed: Aug 30
Last Checked: Aug 31 at 6:04PM
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 Realty One Group Dreamers
Investment Insights
Based on property information with market context.
This Oklahoma City retail property includes approximately 3,700 SF on 0.45 acres, along with the real estate and an operating liquor store. The offering also contains additional retail space occupied by a separate tenant under a month-to-month arrangement.
The property is positioned along N Pennsylvania Ave with visibility from a high-traffic corridor. The existing configuration may accommodate either continued business operations or an owner-user approach, subject to buyer due diligence. Inventory is included according to seller-provided estimates, while financial information and prior operating history have not been independently verified.
The property is positioned along N Pennsylvania Ave with visibility from a high-traffic corridor. The existing configuration may accommodate either continued business operations or an owner-user approach, subject to buyer due diligence. Inventory is included according to seller-provided estimates, while financial information and prior operating history have not been independently verified.
Key Highlights
- Approximately 3,700 SF on 0.45 acres
- Established liquor store included with the real estate
- Additional retail space leased month to month
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
$73,038
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
6.09%
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%
$1,460,760
$1.5M
Cap Rate 7%
$1,043,400
$1.0M
Cap Rate 9%
$811,533
$811.5K
Market Conditions
NOI Build-Up for 3,700 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
$111.0K $30.00/SF
− Vacancy
−$6.7K −$1.80/SF
EGI
$104.3K $28.20/SF
− OpEx
−$31.3K −$8.46/SF
NOI
$73.0K $19.74/SF
Area
Oklahoma City, OK
Vacancy
6.00%
Lease Rate
$30.00 /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%
$1,460,760
Cap Rate 7%
$1,043,400
Cap Rate 9%
$811,533
Alternative Uses
Best Use
Retail
$1.04M
$913.0K – $1.22M
NOI $73,038 @ 7.0% cap · market cap 6.09%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.27M
$1.11M – $1.48M
NOI $88,578 @ 7.0% cap · market cap 7.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
367
Businesses Nearby
Explore this area
Business Placement
Demographics for 73107, OK
26,318
Population
12,621
Households
2.1
Avg Household Size
34
Median Age
31%
College-Educated
80%
High-School Grad
7.6 sq mi
ZIP Area
3,463
Density / Sq Mi
$58,428
Median Household Income
$38,753
Median Earnings
$1,014
Median Rent
$143,000
Median Home Value
Market
Vacancy Rate% for Retail in Oklahoma City, OK
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Includes an established liquor store and a second retail area leased on a month-to-month basis.
Where is this retail space located?
The property is located at A-3637 N Pennsylvania Ave Oklahoma City, OK.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Approximately 3,700 SF on 0.45 acres; Established liquor store included with the real estate; Additional retail space leased month to month
