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    The Largest CRE Database in the US with Over 1 Million Listings

    1206 S Main St Elk City, OK 73644

    Sponsored
    For Sale
    $1,400,000

    MULTI_FAMILY - Elk City, OK

    Property size:
    9,528 SF
    Lot size:
    2.53 Acres
    Days on Market:
    20
    Last Refresh:
    Jan 28 at 10:06 pm

    Property Features for 1206 S Main St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Commercial
    APN
    1206SMain73644
    Size
    9,528 SF
    Lot size
    2.53 Acres

    Building Details

    Year built
    1981

    We can help!

    Listing Contact
    Payton Hamm

    Exploration Realty (405) 802-2616

    Listing agent Payton Hamm (405) 802-2616

    Listing date Jan 9, 2026

    MLS# 1207816

    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.

    Learn more

    Property Insight Report

    Overview

    Versatile Commercial Property on South Main

    Located on South Main Street in Elk City, Oklahoma, this commercial property offers exposure and flexibility for business or investment uses. The site, situated on over 2.53 acres, includes improvements and yard space, suitable for retail, service, storage, logistics, or owner-operator opportunities in Beckham County. The property features a metal retail building totaling approximately 4,776 square feet, constructed in 1981, with warmed and cooled air, gable metal roofing, and metal siding. An additional 4,752 square foot metal warehouse offers open storage space with radiant space heaters and overhead and walk through doors. There is a ample amount of storage including a second story with easy staircase access. A loading dock enhances functionality for deliveries and distribution, while a general-purpose lean-to barn provides added utility for storage or light industrial use. The expansive lot allows for access, parking, and outdoor storage, with visibility from a well-traveled Elk City corridor. The property offers potential for commercial users, investors, or business owners seeking a centrally located site with multiple structures and flexible use potential. Easy access is available to I-40 and Rt. 66 Business loop. The 2.53 Acres is primarily land located to the East of the Commercial building. Room for expansion and multi-use opportunities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Elk City Pools ... Swimming Pool Supply Store Red Hot Steamers ... Oilfield Reynolds Alvin Heating Contractor

    Suggested Use

    Restaurant Realty agency Law Firm Dental Office Building Supply Spa & Massage Wholesale Shop Hair Salon Auto Repair Shop Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Elk City
    County
    Beckham
    State
    Oklahoma
    Longitude
    -99.40443
    Latitude
    35.397837

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    FAQs

    What type of property is this?
    Retail space - Commercial property with retail, warehouse, and expansion potential in Elk City.
    Where is this retail space located?
    The property is located at 1206 S Main St Elk City, OK.
    What is the asking price?
    The asking price for this property is $1,400,000.
    What are key features of this property?
    This property features: - Strategically located on South Main Street in Elk City with exceptional exposure and easy access to I-40 and Rt. 66 Business loop.; - Versatile commercial property on over 35 acres with multiple improvements and ample yard space.; - Includes a **4,776 sq ft metal retail building (warmed/cooled)** and a **4,752 sq ft metal warehouse with radiant heaters and overhead doors**.
    (405) 802-2616
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    1206 S Main St Elk City, OK 73644
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    Elk City, OK 73644
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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
    1206 S Main St Elk City, OK 73644
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    We can help!
    Listing Contact
    Payton Hamm
    Real Estate License ID: 155953
    (405) 802-2616
    Learn more
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