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    Cherokee Restaurant Property For Sale Title is generated by Realmo AI

    1710 S Grand Ave., Cherokee, OK 73728

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    For Sale
    $100,000

    Commercial - Cherokee, OK

    Property size:
    3,678 SF
    Price / SF:
    $27/SF
    Added:
    Jan 6, 2026
    Days on Market:
    128
    Last Refresh:
    May 14 at 6:06 am

    Property Features for 1710 S Grand Ave.

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    200
    Parking features
    Garage
    Standard status
    Active
    Size
    3,678 SF

    Taxes and HOA fees

    Tax Annual Amount
    0

    Building Details

    Year built
    1963
    Year renovated
    1963
    Flooring type
    Carpet, Tile
    Building materials
    Vinyl Siding
    Architectural style
    Other

    We can help!

    Listing Contact
    Aleta Kohlrus
    Aleta Kohlrus

    Listing agent Aleta Kohlrus

    Listing office Kohlrus Real Estate LLC 412 Flynn Street, Alva, OK

    Listing date Jan 6, 2026

    MLS# 11644201 Listing URL

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

    HighLights

    • Established Restaurant Location: Long‑time family‑owned commercial property with a strong local reputation.
    • Ample Parking: Large rocked lot with ample customer and semi‑truck parking.
    • Restaurant Equipment Included: Sale includes most existing restaurant equipment, decor, tables, and settings.
    • Potential for Drive‑Up Window: Space available to accommodate a future drive‑up window.
    • Recent Roof Replacement: Flat roof replaced approximately one year ago.
    • Clear Title: Property is in good standing, fully owned, and a clear title will be provided at closing.

    Overview

    The Cherokee Station is a long-time, family-owned commercial property located at 1710 S. Grand Ave. This established location has a strong local reputation for food, service, and hospitality. The building, originally built in 1963, offers approximately 3,678 square feet and features vinyl siding with a flat roof replaced approximately one year ago. The interior includes a service and dining area that previously seated approximately 75 guests. The property sits on a rocked lot with customer parking, semi-truck parking, and space that could accommodate a future drive-up window. A rear carport, added in 2015, provides additional covered functionality. The sale includes most existing restaurant equipment, decor, tables, and settings. The property has been closed for approximately five years and is being sold AS IS, WHERE IS. The commercial-zoned property presents an opportunity for investors or entrepreneurs looking to restore or repurpose a local establishment.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Turn key restaurants

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Cherokee
    County
    Alfalfa
    State
    Oklahoma
    Longitude
    -98.35969
    Latitude
    36.741577

    Nearby Similar for Sale

    • $440,000

      Prime Farmland Near Cherokee, OK

      160 acres of prime farmland with Class I & II soils.
      E0200 Rd & N2600 Rd, Cherokee, OK 73728
      View Details
    • $100,000
      22,216 SF

      Established Restaurant Property For Sale

      Long-time family-owned restaurant with strong local reputation.
      1710 S. Grand Ave., Cherokee, OK 73728
      View Details

    FAQs

    What type of property is this?
    Restaurant - Established restaurant property with equipment included, sold as-is.
    Where is this restaurant located?
    The property is located at 1710 S Grand Ave. Cherokee, OK.
    What is the asking price?
    The asking price for this property is $100,000.
    What are key features of this property?
    This property features: Established Restaurant Location: Long‑time family‑owned commercial property with a strong local reputation.; Ample Parking: Large rocked lot with ample customer and semi‑truck parking.; Restaurant Equipment Included: Sale includes most existing restaurant equipment, decor, tables, and settings.
    (580) 829-1056
    We can help!
    Listing Contact
    Aleta Kohlrus
    Aleta Kohlrus
    Real Estate License ID: 130923
    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.

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