Two-Story Retail Building with Service
Medicine Park, OK 73557 Medicine Park, OK 73557
New
Medicine Park, OK, 73557
$725,000
For Sale
$725,000
COMMERCIAL - Medicine Park, OK
Property Size3,500 SF
Price / SF$207.14
Days on Market6
Property Features
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Bathrooms
- 2
- Standard status
- Active
- Size
- 3,500 SF
Building Details
- Year built
- 1999
Listing agency
NextHome Tri-Covenant Realty
(580) 512-0591
Listed by
Brenda Spencer-Ragland · License #183998,PersonLicenseNumber
(580) 699-7653
Added: Jul 16 Updated: Jul 20 at 3:59PM Checked: Jul 21 at 8:06PM
MLS# 170669
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Investment Insights
Based on property information with market context.
This two-story retail building offers approximately 3,500 square feet of flexible commercial space. The main level includes a versatile retail area and two customer restrooms. Toward the rear, there is a potential kitchen or service area equipped with a three-compartment sink, providing additional utility for a range of retail concepts. The second level includes potential living space or additional workspace, with 3/4 bathrooms and an additional kitchen sink, cabinets, and a refrigerator.
The exterior features a cobblestone exterior with vinyl siding, and the building is topped with a durable metal roof.
The property has been home to a successful retail business for over 23 years and is presented as a continued retail and possible mixed-use opportunity.
The exterior features a cobblestone exterior with vinyl siding, and the building is topped with a durable metal roof.
The property has been home to a successful retail business for over 23 years and is presented as a continued retail and possible mixed-use opportunity.
Key Highlights
- Approximately 3,500 SF retail building built in 1999 at 181 Forest Avenue in Medicine Park, OK
- Main level includes two customer restrooms and a versatile retail space for retail or specialty use
- Rear portion offers a potential kitchen/service area with a three‑compartment sink for added functionality
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $74.3k | $21.24 |
| − Vacancy | −$7.7k | −$2.19 |
| EGI | $66.7k | $19.05 |
| − OpEx | −$20.0k | −$5.72 |
| NOI | $46.7k | $13.34 |
3,500 SF · lease $21.24/SF/yr · vacancy 10.30% · expense 30.00%
Alternative Uses
Best Use
Retail
$666.8K
$583.5K – $778.0K
NOI $46,678 @ 7.0% cap · market cap 6.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$860.7K
$753.1K – $1.00M
NOI $60,248 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Two-story retail building with durable metal roof, cobblestone exterior, and a rear service area plus potential upper living space.
Where is this retail space located?
The property is located at Medicine Park, OK.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Approximately 3,500 SF retail building built in 1999 at 181 Forest Avenue in Medicine Park, OK; Main level includes two customer restrooms and a versatile retail space for retail or specialty use; Rear portion offers a potential kitchen/service area with a three‑compartment sink for added functionality
