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    Prime I-35 Commercial Site Title is generated by Realmo AI

    I-35 Exit 29 Prime Commercial Development Opportunity FOR SALE, Ardmore, OK 73401

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    Claim this Listing
    For Sale
    $8,500,000

    Vacant Land - Ardmore, OK

    Lot size:
    10.50 Acres
    Added:
    Sep 16, 2024
    Days on Market:
    625
    Last Refresh:
    Jun 2 at 12:06 pm

    Property Features for I-35 Exit 29 Prime Commercial Development Opportunity FOR SALE

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    200
    Parking features
    Garage
    Standard status
    Active
    Lot size
    10.50 Acres

    Taxes and HOA fees

    Tax Annual Amount
    495

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Thomas Bryant

    Listing agent Thomas Bryant

    Listing office Turner Land Company LLC PO Box 320 Ringling Oklahoma, Ringling, OK

    Listing date Sep 16, 2024

    MLS# 11343446 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

    • Prime I‑35 Frontage: Benefit from high visibility and accessibility at Exit 29, the gateway to Ardmore, OK, with 35,000+ vehicles per day.
    • Ideal for Hospitality Development: Suited for hotel, travel plaza, or entertainment use.
    • Strategic Location: Positioned between Oklahoma City and Dallas, attracting tourism and thru‑traffic.
    • Adjacent to Lakecrest Casino Resort (Coming Soon): Great potential for increased traffic and business.
    • Flexible Acreage: Seller is negotiable on parcel size.
    • Zoned Commercial with Utilities: Ready for development with city water and tri‑wire commercial electric.

    Overview

    This commercial property is located off Interstate 35 Exit 29 in Ardmore, OK. Positioned at the first northbound exit and last southbound exit on I-35 in Ardmore, the site is suitable for hotel, convenience store, travel plaza, or entertainment development. The property is zoned commercial and features direct I-35 and Hwy 70 frontage. It benefits from traffic of over 35,000 vehicles per day, city water, and tri-wire commercial electric. The acreage is flexible, and the seller is negotiable. The location is adjacent to the upcoming Lakecrest Casino Resort, 2 miles from Ardmore Airport, 2.5 miles from Lake Murray State Park, 14 miles from Lake Murray Lodge, 5 minutes from Broadway St., and 7 minutes from Downtown Ardmore. Situated between Oklahoma City and Dallas, both 90 miles away, the area attracts tourism and thru-traffic. The property is 1.8 miles south of Plainview Public Schools and 1.2 miles west of South Commerce. It is tailored for a hotel, travel plaza, or hospitality use.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Ardmore
    County
    Carter
    State
    Oklahoma
    Longitude
    -97.173354
    Latitude
    34.172006

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    FAQs

    What type of property is this?
    Commercial land - High-exposure commercial property ideal for hotel or travel plaza.
    Where is this commercial land located?
    The property is located at I-35 Exit 29 Prime Commercial Development Opportunity FOR SALE Ardmore, OK.
    What is the asking price?
    The asking price for this property is $8,500,000.
    What are key features of this property?
    This property features: Prime I‑35 Frontage: Benefit from high visibility and accessibility at Exit 29, the gateway to Ardmore, OK, with 35,000+ vehicles per day.; Ideal for Hospitality Development: Suited for hotel, travel plaza, or entertainment use.; Strategic Location: Positioned between Oklahoma City and Dallas, attracting tourism and thru‑traffic.
    (580) 465-9851
    We can help!
    Listing Contact
    Thomas Bryant
    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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