Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    23948 197Th St Spiro, OK 74959

    Sponsored
    For Sale
    Under Contract
    Contact for pricing

    Lots - Spiro, OK

    Lot size:
    0.52 Acres
    Days on Market:
    8
    Last Refresh:
    Jan 21 at 12:06 am

    Property Features for 23948 197Th St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active Under Contract
    APN
    0000-21-09N-25E-0-016-00
    Lot size
    0.52 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Amy Hall

    Keller Williams Platinum Realty (479) 434-3000 [email protected]

    Listing agent Amy Hall (479) 434-3000

    Listing date Jan 14, 2026

    MLS# 1084332 Listing URL

    Copyright © 2026 Western River Valley 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.

    Learn more

    Property Insight Report

    Overview

    Prime Corner Commercial Lot Opportunity

    This 0.52-acre mixed-use/commercial lot is located on a corner in Spiro, OK. The level terrain is suitable for various business ventures, including a retail store, office space, or a service-oriented establishment. The location benefits from high visibility and an approximate traffic count of 8,000 vehicles per day. It is located 27 minutes from Fort Smith, AR, 28 minutes from Sallisaw, OK (I-40), and 20 minutes from Poteau, OK, providing access to major thoroughfares. The surrounding area includes a convenience store and RV parks across the street.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Building Supply Wholesale Shop Hair Salon Hotel & Motel Food Market Storage Facility Discount Store Convenience Store Bed & Breakfast

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

    Location Insight

    • Map
    • Local Demand
    City
    Spiro
    County
    Le Flore
    State
    Oklahoma
    Longitude
    -94.670977
    Latitude
    35.235695

    Nearby Similar for Sale

    • $400,000
      9.26 Acres

      Spiro Mixed-Use Development Opportunity

      Corner lot suitable for residential or commercial development in Spiro.
      Tbd Hwy 271, Spiro, OK 74959
      View Details
    • New
      $119,000
      1,200 SF

      Metal Shop with Stunning Views

      30x40 metal shop on 2 acres near Ft Smith, AR.
      23062 Race Track Rd, Spiro, OK 74959
      View Details
    • $179,000
      1,840 SF

      Auto Service Garage on 1.77 Acres

      Auto repair shop on 1.77 acres with highway frontage.
      1000 W Broadway Ave, Spiro, OK 74959
      View Details
    • $275,000
      78.00 Acres

      78 Acres of Pasture Land

      Improved pasture land with utilities, ponds, and county road access.
      Cowshed Crossing Rd, Spiro, OK 74959
      View Details
    • $275,000
      78.00 Acres

      78 Acres of Pasture Land

      78 acres of pasture land, ideal for cattle operation.
      Tbd Cowshed Xing, Spiro, OK 74959
      View Details
    • $800,000
      2,808 SF

      Motel & RV Park Investment

      Multi-income property with motel, mobile homes, and RV park.
      22192 Us Highway 271, Spiro, OK 74959
      View Details
    • $800,000
      2,808 SF

      Motel & RV Park Investment

      Multi-investment property with motel, mobile homes, and RV park.
      22192 Us Highway 271, Spiro, OK 74959
      View Details
    • $150,000
      4,384 SF

      Highway Frontage Retail Opportunity

      Highway frontage property suitable for business or redevelopment.
      300 E Broadway St, Spiro, OK 74959
      View Details
    • $89,000
      3.00 Acres

      Spiro OK RV Park Potential

      3 acres with highway frontage and RV park potential.
      22375 Highway 271, Spiro, OK 74959
      View Details
    • $310,000
      2,100 SF

      Retail Space on Highway Frontage

      Retail space on 4.73 acres with highway frontage.
      19416 Highway 271, Spiro, OK 74959
      View Details
    • $179,000
      1.77 Acres

      Spiro Commercial Property - Hwy 271

      High-traffic commercial lot, excellent visibility.
      1000 Broadway Ave, Spiro, OK 74959
      View Details
    • $52,500
      0.08 Acres

      Spiro Office Building - Great Potential

      Versatile Office Space, Updated Systems
      200 Main St, Spiro, OK 74959
      View Details

    FAQs

    What type of property is this?
    Commercial land - 0.52-acre mixed-use/commercial lot in Spiro, OK, high visibility.
    Where is this commercial land located?
    The property is located at 23948 197Th St Spiro, OK.
    What is the asking price?
    The asking price for this property is $23,500.
    What are key features of this property?
    This property features: - High-visibility corner lot with approximately 8,000 vehicles per day traffic count.; - Strategically located 27 minutes from Fort Smith, AR, 28 minutes from Sallisaw, OK (I-40), and 20 minutes from Poteau, OK.; - Ideal .52-acre level lot suitable for various business ventures (retail, office, service).
    (479) 434-3000
    Request Owner's contact information
    23948 197Th St Spiro, OK 74959
    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.
    23948 197Th St
    Spiro, OK 74959
    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
    23948 197Th St Spiro, OK 74959
    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

    We can help!
    Listing Contact
    Amy Hall
    (479) 434-3000
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.