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    103 NE 2nd Street Adair, OK 74330

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    Claim this Listing
    For Sale
    $405,000

    COMMERCIAL - Adair, OK

    Property size:
    9,591 SF
    Lot size:
    0.67 Acres
    Price / SF:
    $42/SF
    Added:
    May 13, 2025
    Days on Market:
    352
    Last Refresh:
    Apr 29 at 7:06 am

    Property Features for 103 NE 2nd Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Security features
    Security System
    Interior features
    Display Window, High Speed Internet, Public Restrooms, Security System-Owned
    Exterior features
    Lighting, Storage
    Fencing
    Fenced
    Standard status
    Active
    Size
    9,591 SF
    Lot size
    0.67 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    Adair Original 1260/37 Blk 17 Lots 2-3-4
    Tax Annual Amount
    3381

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    2004
    Floors in Building
    1
    Flooring type
    Concrete
    Building materials
    Frame
    Roof type
    Metal
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Tara Hargrove
    Tara Hargrove

    Listing agent Tara Hargrove License #173305

    Listing office Keller Williams Premier 2002 S Hwy 66, Claremore, OK

    Listing date May 13, 2025

    MLS# 2520836

    Copyright © 2026 MLS Technology, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Adair Commercial Property on Highway

    This commercial property in Adair, Oklahoma, is suitable for industrial showroom, retail, or warehouse use. The building is located approximately 15 minutes from Mid-America Industrial Park, 36 minutes from the Port of Catoosa, and 10 minutes from the Will Rogers Turnpike. Constructed with 26-gauge steel and metal rafters, the wood and metal building includes a retail/main building with heating and air conditioning. The interior features three bathrooms and office space, and the layout allows for easy division and rental. The property includes a paved lot and benefits from high traffic volume on Highway 69 in northeast Oklahoma, with a significant presence of large trucks. The property is sold AS-IS.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Full Gospel Native ... Association Or Organization 5 Golden Stars ... Factory

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Gym & Fitness Center Accounting Firm Discount Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Adair
    County
    Mayes
    State
    Oklahoma
    Longitude
    -95.271791
    Latitude
    36.439155

    Nearby Similar for Sale

    • $175,000
      1,200 SF

      Adair Diner Opportunity

      Diner opportunity in high-traffic area of Adair, Oklahoma.
      305 W Main Street, Adair, OK 74330
      View Details
    • Contact for pricing
      9,000 SF

      Highway 69 Frontage Commercial Property

      Two buildings on 2 acres with high-visibility highway frontage.
      1178 W 410 Rd, Adair, OK
      View Details

    FAQs

    What type of property is this?
    Warehouse - Versatile commercial building near industrial park and major transportation routes.
    Where is this warehouse located?
    The property is located at 103 NE 2nd Street Adair, OK.
    What is the asking price?
    The asking price for this property is $405,000.
    What are key features of this property?
    This property features: Prime location on major Highway 69 with high traffic volume.; Versatile building suitable for showroom, retail, or warehouse use.; Strategic location: 15 mins from Mid‑America Industrial Park, 36 mins from Port of Catoosa.
    (918) 283-2252
    We can help!
    Listing Contact
    Tara Hargrove
    Tara Hargrove
    Real Estate License ID: 173305
    Learn More
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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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