Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Medicine Park Multi-Use Double Lot Title is generated by Realmo AI

    121 Merry Circle Dr, Medicine Park, OK 73557

    View on Map
    Claim this Listing
    For Sale
    $150,000

    RESIDENTIAL - Medicine Park, OK

    Type:Single Family Residence
    Added:
    Jul 10, 2025
    Days on Market:
    321
    Last Refresh:
    May 26 at 1:06 am

    Property Features for 121 Merry Circle Dr

    General Information

    Property type
    Land
    Property subtype
    Single Family Residence
    Exterior features
    None
    Standard status
    Active

    Taxes and HOA fees

    Tax Annual Amount
    28.69

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    LISA EAKINS

    Listing agent LISA EAKINS

    Listing office ELGIN REALTY 7727 US HIGHWAY 277, SUITE 1, Elgin, OK

    Listing date Jul 10, 2025

    MLS# 169207 Listing URL

    Copyright © 2026 Lawton Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Double lot size (100 x 100)
    • Zoned for both residential and commercial use
    • Multi‑use potential
    • Suited for mountain get‑away
    • Ideal for snack shop (hikers & bikers)
    • Potential for Airbnb

    Overview

    This multi-use double lot is located in Medicine Park, Oklahoma. Zoned for both residential and commercial use, the 100 x 100 lot presents various possibilities. It could accommodate a mountain get-away, a snack shop catering to hikers and bikers, or an Airbnb rental.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Medicine Park
    County
    Comanche
    State
    Oklahoma
    Longitude
    -98.5024
    Latitude
    34.7292

    Nearby Similar for Sale

    • $899,000

      Medicine Park Bar & Grill

      Bar and grill with equipment on 1.25 acres.
      230 East Lake Dr, Medicine Park, OK 73557
      View Details
    • $950,000
      1,044 SF

      Restaurant Opportunity in Medicine Park

      Restaurant with equipment on 1.25 acres in Medicine Park.
      230 E Lake Dr, Medicine Park, OK 73557
      View Details
    • $725,000
      3,500 SF

      Medicine Park Retail Opportunity

      3,500 sq ft retail building in tourist destination.
      181 Forest Ave, Medicine Park, OK 73557
      View Details
    • $55,000

      Residential Lot in Medicine Park

      Lot in historic Medicine Park, build your home away from home.
      124 Lawton Ave, Medicine Park, OK 73557
      View Details
    • $27,500

      Residential Lot with Mountain Views

      Residential lot near Medicine Park amenities with mountain views.
      117 Observation Rd, Medicine Park, OK 73557
      View Details
    • $55,000

      Residential Lot in Tourist Destination

      Vacant lot in Medicine Park, Oklahoma, near Wichita Mountains.
      122 Lawton Ave, Medicine Park, OK 73557
      View Details
    • $40,000

      Medicine Park Residential Lot

      Residential lot with panoramic mountain and lake views.
      202 Observation Rd, Medicine Park, OK 73557
      View Details
    • $225,000

      Medicine Park Triple Lot

      Triple lot with commercial or residential possibilities in Medicine Park.
      136 Merry Circle Dr, Medicine Park, OK 73557
      View Details
    • $99,900

      Medicine Park Building Site

      Residential building site near downtown, Bath Lake, and the dam.
      73 E Boundary Rd, Medicine Park, OK 73557
      View Details

    FAQs

    What type of property is this?
    Commercial land - Double lot in Medicine Park, OK, zoned for residential/commercial use.
    Where is this commercial land located?
    The property is located at 121 Merry Circle Dr Medicine Park, OK.
    What is the asking price?
    The asking price for this property is $150,000.
    What are key features of this property?
    This property features: Double lot size (100 x 100); Zoned for both residential and commercial use; Multi‑use potential
    (580) 678-3774
    We can help!
    Listing Contact
    LISA EAKINS
    Real Estate License ID: 205363
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    121 Merry Circle Dr, Medicine Park, OK 73557
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!