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    108 W 12th Street Elk City, OK 73644

    View on Map
    For Lease
    $2,750 /Mo

    COMMERCIAL - Elk City, OK

    Property size:
    5,000 SF
    Lot size:
    1.97 Acres
    Added:
    Jan 9, 2025
    Days on Market:
    447
    Last Refresh:
    Apr 1 at 9:06 pm

    Property Features for 108 W 12th Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Bathrooms
    3
    Rooms
    Bathroom 2, Bathroom 1, Bathroom 3
    Standard status
    Active
    APN
    108W12th73644
    Size
    5,000 SF
    Lot size
    1.97 Acres

    Utilities

    Heating system
    Central, Natural Gas
    Cooling system
    Central Air, Electric

    Building Details

    Year built
    1982
    Building materials
    Metal
    Roof type
    Metal

    We can help!

    Listing Contact
    David Osterloh

    Listing agent David Osterloh License #206502

    Listing office Western Oklahoma Realty LLC 602 WEST 3RD STREET, Elk City, OK

    Listing date Jan 9, 2025

    MLS# 1150190 Listing URL

    Copyright © 2026 MLSOK, 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

    Elk City Office Space Available

    This stand-alone office space is available for rent and contains 19 offices, a large reception area, 3 bathrooms, and a kitchen area. There is also a mechanical area suitable for computer hardware or file storage. The building has been updated with new paint inside and out, as well as all new windows. The hallways and reception area feature new LVP flooring, and one office has new carpet. The remaining spaces are slated to receive new flooring based on the needs of the next occupant, who can choose new commercial carpet, new LVP, or a combination of the two. Additionally, a 50x50 building with 3 overhead doors directly west of this office space is also available to rent. This building includes a conference room, a restroom, and a large safe room. Occupants of both buildings will have access to the safe room. The property is located in Elk City, OK, and has a lot size of 1.9704 acres. The office space encompasses 5000 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Sooner Rubber Products ... Factory

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Elk City
    County
    Beckham
    State
    Oklahoma
    Longitude
    -99.405127
    Latitude
    35.401863

    Nearby Similar for Lease

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      Restaurant Building For Lease

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      Elk City Office Space Available

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      Restaurant Building with Drive Thru

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    FAQs

    What type of property is this?
    Office units - Stand-alone office space with multiple offices, reception, and kitchen.
    Where is this office units located?
    The property is located at 108 W 12th Street Elk City, OK.
    What is the lease rate?
    The lease rate is $2,750 /Mo.
    What are key features of this property?
    This property features: Stand‑alone office building featuring 19 offices, large reception area, 3 bathrooms, and kitchen.; Option for new flooring (commercial carpet, LVP, or combination) tailored to occupant's needs in most offices.; Additional 50x50 building available for rent with conference room, restroom, and large safe room.
    (580) 821-2601
    We can help!
    Listing Contact
    David Osterloh
    Real Estate License ID: 206502
    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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