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    230 E Lake Dr Medicine Park, OK 73557

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    Claim this Listing
    For Sale
    $950,000

    RESTAURANT - Medicine Park, OK

    Property size:
    1,044 SF
    Lot size:
    1.25 Acres
    Price / SF:
    $909/SF
    Added:
    Aug 27, 2025
    Days on Market:
    252
    Last Refresh:
    May 5 at 4:06 pm

    Property Features for 230 E Lake Dr

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Interior features
    Smoke/Heat Alarm
    Appliances
    Other
    Standard status
    Active
    Size
    1,044 SF
    Lot size
    1.25 Acres

    Taxes and HOA fees

    Tax Annual Amount
    2024

    Utilities

    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air, Electric

    Building Details

    Floors in Building
    1
    Flooring type
    Concrete, Hardwood
    Building materials
    Frame
    Roof type
    Composition
    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 Aug 27, 2025

    MLS# 169517 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.

    Overview

    Restaurant Opportunity in Medicine Park

    This property presents an opportunity in Medicine Park, Oklahoma. Previously operating as a bar and grill, the property includes the building, all equipment, and a span of 9 lots totaling approximately 1.25 acres. The property size is 1044 square feet. The business name is also included, if desired. The property is located in Comanche County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bars & Pubs

    Suggested Use

    Food Market Hair Salon Clothing & Fashion Store Bakery (Bike/Boat/Book/etc) Store Wine and Liquor Store Nail Salon Arcade & Gaming Center Restaurant Farmer's Market

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

    Similar Places Nearby

    • Nice Ice Baby Medicine Park — 148 E Lake Dr, Medicine Park, OK 73557
    • Refuge Ale House — 216 E Lake Dr, Medicine Park, OK 73557
    • Park Tavern — 198 E Lake Dr, Medicine Park, OK 73557

    Location Insight

    • Map
    • Local Demand
    City
    Medicine Park
    County
    Comanche
    State
    Oklahoma
    Longitude
    -98.503349
    Latitude
    34.728656

    Nearby Similar for Sale

    • $725,000
      3,500 SF

      Medicine Park Retail Opportunity

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      181 Forest Ave, Medicine Park, OK 73557
      View Details
    • $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
    • $873,000

      Medicine Park Triplex/Fourplex Opportunity

      Triplex/Fourplex in Medicine Park, Oklahoma, suitable for Airbnb or rental.
      115 Sheridan, Medicine Park, OK 73557
      View Details

    FAQs

    What type of property is this?
    Bar & Pub - Restaurant with equipment on 1.25 acres in Medicine Park.
    Where is this bar & pub located?
    The property is located at 230 E Lake Dr Medicine Park, OK.
    What is the asking price?
    The asking price for this property is $950,000.
    What are key features of this property?
    This property features: Prime commercial opportunity in Medicine Park, ready for immediate operation.; Includes building and all equipment (inside and out). Business name optional.; Large lot size: approximately 1.25 acres spanning 9 lots.
    (580) 678-3774
    We can help!
    Listing Contact
    LISA EAKINS
    Real Estate License ID: 205363
    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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