Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    701 E Illinois Ave Vinita, OK 74301

    View on Map
    Sponsored
    Pending
    $250,000

    COMMERCIAL - Vinita, OK

    Property size:
    3,752 SF
    Lot size:
    0.69 Acres
    Days on Market:
    118
    Last Refresh:
    Mar 11 at 6:06 pm

    Property Features for 701 E Illinois Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Pending
    Zoning
    Urban Comm
    APN
    1999-00-007-017-0-001-00
    Size
    3,752 SF
    Lot size
    0.69 Acres

    Building Details

    Year built
    1990
    Building materials
    Brick
    Roof type
    Metal

    We can help!

    Listing Contact
    Sheila Anderson Lalicker

    Solid Rock, Realtors (918) 637-3415

    Listing agent Sheila Anderson Lalicker (918) 244-1231

    Listing date Nov 13, 2025

    MLS# 2525093

    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.

    Learn more

    Property Insight Report

    Overview

    Route 66 Commercial Land

    This commercial property is located in Vinita, OK, on Route 66. The property, situated on approximately 0.69 acres, offers a high-visibility location. The property is zoned Urban Comm and has redevelopment potential. The existing structure encompasses 3,752 square feet. The value is in the land, presenting an opportunity for a new business venture.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    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
    Vinita
    County
    Craig
    State
    Oklahoma
    Longitude
    -95.163114
    Latitude
    36.641946

    Nearby Similar for Sale

    • $400,000
      3,000 SF

      Versatile Vinita Land with Buildings

      40 acres with multiple buildings suitable for various uses.
      21456 S 4440 Rd, Vinita, OK 74301
      View Details
    • $40,000
      Pending

      Vinita, OK Land with Shop

      Three-acre property featuring a shop, house, and utilities.
      33548 S 4480 Rd, Vinita, OK 74301
      View Details
    • $779,000
      1,791 SF

      Vinita Ranch with Highway Frontage

      77+ acre ranch near Grand Lake and Route 66.
      28502 Highway 82 S, Vinita, OK 74301
      View Details
    • $159,900
      3,040 SF

      Vinita Commercial Property For Sale

      Income-producing commercial property in the heart of South Grand Lake.
      324 W Ketchum Ave, Vinita, OK 74301
      View Details
    • $365,000
      42.00 Acres

      Vinita, OK Land Investment Opportunity

      42.4 acre property near Vinita, OK in opportunity zone.
      441775 E 260 Rd, Vinita, OK 74301
      View Details
    • $400,000
      3,000 SF

      Vinita Land with Multiple Buildings

      40 acres with multiple buildings suitable for various uses.
      21456 S 4440 Rd, Vinita, OK 74301
      View Details
    • $350,000
      2,040 SF

      Commercial Property on Historic Route 66

      Commercial property on Route 66 with endless potential.
      426 S Wilson St, Vinita, OK 74301
      View Details
    • $129,000
      2,444 SF

      Route 66 Retail Space - Vinita, OK

      Iconic Route 66 storefront, versatile space, turnkey ready.
      130 Wilson St, Vinita, OK 74301
      View Details
    • $500,000
      80,000 SF

      Vinita, OK Mixed-Use Property

      10-Acre Commercial Compound, Huge Potential
      23106 4390 Rd, Vinita, OK 74301
      View Details
    • $64,900
      960 SF

      Vinita Shop Near Grand Lake

      Well-built shop on spacious lot near Grand Lake.
      454 W Lakeview Ave, Vinita, OK 74301
      View Details
    • $480,000
      80.06 Acres

      80 Acres Near Vinita, OK

      80-acre property with pasture, water, woods near Vinita, OK.
      4440 S 4440 Rd, Vinita, OK 74301
      View Details
    • $159,900
      3,040 SF

      Vinita Commercial Property For Sale

      Income-producing commercial property in the heart of South Grand Lake.
      324 W Ketchum Ave, Vinita, OK 74301
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land on Route 66 with redevelopment potential.
    Where is this commercial land located?
    The property is located at 701 E Illinois Ave Vinita, OK.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: - Prime commercial property on Route 66; - High-visibility location; - Strong potential for redevelopment
    (918) 244-1231
    Request Owner's contact information
    701 E Illinois Ave Vinita, OK 74301
    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.
    701 E Illinois Ave
    Vinita, OK 74301
    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
    701 E Illinois Ave Vinita, OK 74301
    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
    Sheila Anderson Lalicker
    Real Estate License ID: 155166
    (918) 244-1231 (918) 256-7625 (918) 637-3415
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!