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    116 S 2Nd St Guthrie, OK 73044
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    116 S 2Nd St Guthrie, OK 73044

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    • Apartment buildings
    For Sale
    $650,000
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    Historic Guthrie 5-Plex Investment Opportunity For Sale
    $650,000
    6,500 SF

    Historic Guthrie 5-Plex Investment Opportunity

    Well-maintained 5-plex in Guthrie's historic district with stable income.

    116 S 2nd St |, Guthrie, OK 73044
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    Property ID
    US69-1137485
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Horizon Jiu-Jitsu / Gym & Fitness Center

    Property Details for 116 S 2Nd St

    Year built
    1890
    Property type
    Apartment buildings

    Description

    Rare investment opportunity in the heart of Guthrie, Oklahoma's historic district! This well-maintained commercial 5-plex offers a unique chance to own a piece of Guthrie's thriving commercial real estate/multi-family market. Located on the east side of S 2nd St between W Oklahoma Ave & W Harrison Ave, in downtown Guthrie, OK Location: Situated in downtown Guthrie, offering high visibility and easy access for tenants and customers alike with direct street to door parking Building Size: Approximately 6,500 square feet of versatile space spanned across two stores Unit Configuration: Five apartments, one ground floor Historic Charm: Preserving the charm of Guthrie's historic architecture while featuring modern amenities and updates, built in 1890, renovated in 2001 Parking: Convenient off-street parking for tenants and visitors Stable Income Potential Upside Potential: Opportunity for rent increases in alignment with market trends Low Maintenance: Well-maintained property with minimal upkeep required Proximity to Amenities: Close to local shops, restaurants, and attractions, enhancing tenant appeal NDA Required

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Guthrie
    County
    Logan
    State
    Oklahoma
    Longitude
    -97.427501
    Latitude
    35.877838

    Comparable in this City

    • $1,475,000

      Historic Guthrie Mixed-Use Landmark

      Iconic 1902 building with retail space and income-producing units.
      117 West Harrison Ave, Guthrie, OK 73044
      View Details
    • $495,000
      3,376 SF

      Downtown Guthrie Commercial Duplex

      New construction duplex with income potential in downtown Guthrie.
      211 E Cleveland Ave, Guthrie, OK 73044
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    • $375,000
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      Highway 77 Commercial Corner Land

      7.73 acre commercial land with highway frontage in Guthrie, OK.
      0001 SW Hwy 77/ Pr Grv, Guthrie, OK 73044
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    • $49,500
      1.00 Acre

      Land Near Guthrie, Oklahoma

      One-acre commercial land parcel outside Guthrie city limits.
      S Westminster Rd, Guthrie, OK 73044
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    • $195,000
      7.21 Acres

      Guthrie Land with Water Access

      7.21-acre residential land with water access.
      7200 Old Oak Trl, Guthrie, OK 73044
      View Details

    Similar Nearby for Sale

    • $495,000
      3,376 SF

      Downtown Guthrie Commercial Duplex

      New construction duplex with income potential in downtown Guthrie.
      211 E Cleveland Ave, Guthrie, OK 73044
      View Details
    • $1,475,000

      Historic Guthrie Mixed-Use Landmark

      Iconic 1902 building with retail space and income-producing units.
      117 West Harrison Ave, Guthrie, OK 73044
      View Details
    • $375,000
      7.73 Acres

      Highway 77 Commercial Corner Land

      7.73 acre commercial land with highway frontage in Guthrie, OK.
      0001 SW Hwy 77/ Pr Grv, Guthrie, OK 73044
      View Details
    • $49,500
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      Land Near Guthrie, Oklahoma

      One-acre commercial land parcel outside Guthrie city limits.
      S Westminster Rd, Guthrie, OK 73044
      View Details
    • $195,000
      7.21 Acres

      Guthrie Land with Water Access

      7.21-acre residential land with water access.
      7200 Old Oak Trl, Guthrie, OK 73044
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr

      Guthrie Mixed-Use Warehouse Space

      Conveniently located mixed-use warehouse space with office and shop areas.
      410 Sigma Pl, Guthrie, OK 73044
      View Details
    • $12 SF/Yr
      20,640 SF

      Retail Space Near Walmart

      Retail space available in well-maintained shopping center with ample parking.
      1726 S Division St, Guthrie, OK 73044
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    • $12 SF/Yr
      3,200 SF

      Guthrie Flex Space For Rent

      Flex space featuring office, bathroom, shop area, and overhead door.
      410 Sigma Pl, Guthrie, OK 73044
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    • $9 SF/Yr

      Industrial Shop Building For Rent

      Industrial shop building with fenced yard, multiple doors, and offices.
      2024 Ruhl Dr, Guthrie, OK 73044
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    • $12 SF/Yr
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      Retail Space Near Walmart

      Retail space available in well-maintained shopping center.
      1700-1726 S Division St, Guthrie, OK 73044
      View Details
    • Contact for pricing
      7,000 SF

      Retail Suites in Guthrie, OK

      Retail/office suites available in high-traffic Guthrie location.
      2108 S Division St, Guthrie, OK 73044
      View Details
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    Guthrie, OK 73044
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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