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    607 S Lake Murray Drive Ardmore, OK 73401

    View on Map
    For Sale
    $675,000

    COMMERCIAL - Ardmore, OK

    Property size:
    5,920 SF
    Lot size:
    0.78 Acres
    Added:
    Oct 29, 2025
    Days on Market:
    156
    Last Refresh:
    Apr 2 at 1:06 pm

    Property Features for 607 S Lake Murray Drive

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Exterior features
    Dumpster, Lighting, Sidewalk
    Fencing
    Privacy
    Standard status
    Active
    APN
    0010-00-505-006-0-001-00
    Size
    5,920 SF
    Lot size
    0.78 Acres

    Taxes and HOA fees

    TaxYear
    2024
    TaxDescription
    ARDMORE LOTS & BLKS, BLK 505 LOT 6(197X177X186.1X177.2)
    TaxAnnualAmount
    7785

    Building Details

    Year built
    2020
    Building materials
    Steel
    Roof type
    Metal

    We can help!

    Listing Contact
    Jeremiah McMahan
    Jeremiah McMahan

    Listing agent Jeremiah McMahan License #180385

    Listing office Ardmore Realty, Inc 208 S Commerce St, Ardmore, OK

    Listing date Oct 29, 2025

    MLS# 2545204

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

    Overview

    Versatile Commercial Complex in Ardmore

    This commercial complex, constructed in 2020, presents an opportunity for a large company seeking space for operations, parking, and equipment storage. The property has been utilized as a multi-tenant commercial rental for small businesses, generating a gross monthly income of $4,350 at 60% occupancy. The property features two steel buildings, each measuring 5,920 square feet. The property could be reconfigured for a single large operation or continue as multiple smaller units. Each space includes a climate-controlled office, storage closet, and bathroom, with the majority of the square footage dedicated to open warehouse space suitable for inventory, vehicles, or equipment, or convertible to additional office or production areas. A concrete parking lot between the two buildings provides space for employees, customers, and trailers. The location offers access to Downtown Ardmore, Ardmore Municipal Airport, Lake Murray State Park, Lakecrest Hotel & Casino, and the I-35 corridor. Located across from Hardy Murphy Coliseum, the property benefits from visibility and exposure to visitors drawn to year-round events.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    High Maintenence Connection ... Big Box & Wholesale Store Titan Pest Solutions Garden Center No Doubt Window ... Interior Design TNP Construction LLC Construction Company

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Ardmore
    County
    Carter
    State
    Oklahoma
    Longitude
    -97.1237096
    Latitude
    34.1632919

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    FAQs

    What type of property is this?
    Mixed-use property - Multi-tenant commercial property with income potential and convenient location.
    Where is this mixed-use property located?
    The property is located at 607 S Lake Murray Drive Ardmore, OK.
    What is the asking price?
    The asking price for this property is $675,000.
    What are key features of this property?
    This property features: Built in 2020: Modern construction.; Two steel buildings totaling 11,840 sq ft: Ample space.; Large concrete parking lot: Accommodates employees, customers, and trailers.
    (580) 226-4200
    We can help!
    Listing Contact
    Jeremiah McMahan
    Jeremiah McMahan
    Real Estate License ID: 180385
    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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