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

    18613 Reno Ave Choctaw, OK 73020

    Sponsored
    For Sale
    $1,650,000

    High-traffic location, 6.8 acres total.

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    352
    This exceptional commercial property, encompassing a combined 6.8 acres, presents a remarkable development opportunity. Situated at the northeast corner of the Kickapoo Turnpike exit ramp and E Reno Avenue in Choctaw, Oklahoma, this 2.07-acre parcel benefits from unparalleled visibility and accessibility. Its strategic location ensures high traffic volume, making it ideal for a wide range of commercial ventures. The property's potential is further enhanced by the adjacent residential property, which the City of Harrah will rezone for commercial use upon the owner's departure. This presents a unique chance to acquire a substantial land holding with immediate development potential and the added benefit of future expansion possibilities. The combined acreage offers ample space for large-scale projects, allowing for flexibility in design and functionality. This is a rare opportunity to secure a prime commercial location with significant growth potential in a thriving area. The property is being sold in conjunction with MLS 1120960, located at 18645 E Reno Ave, expanding the total acreage to 6.8 acres. More photos will be available soon. The asking price is $1,650,000.

    Property Features for 18613 Reno Ave

    General Information

    Property type
    Other commercial real estate
    Lot Size
    90,169 SF

    Building Details

    Year Built
    2018

    We can help!

    Listing Contact
    Gaydonne Nusz

    Learn more

    Property Insight Report
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Building Supply Wholesale Shop Hair Salon Department Store Kitchen & Bath Food Market Grocery Store Garden Center Discount Store Bakery

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

    Location Insight

    • Map
    • Local Demand
    City
    Choctaw
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.20158
    Latitude
    35.4645

    Nearby Similar for Sale

    • $225,000
      1,543 SF

      Office Building on NE 23rd Street

      Office building with multiple configurations and convenient location in Choctaw, OK.
      16446 NE 23Rd St, Choctaw, OK 73020
      View Details
    • $850,000
      2,942 SF

      Former Bank Building on Corner Lot

      Commercial property with bank features on a busy corner.
      14900 SE 29Th St, Choctaw, OK 73020
      View Details
    • $185,000
      1,200 SF

      Choctaw Commercial Property For Sale

      Multi-use commercial property on approximately 1/3 acre in Choctaw, OK.
      13523 NE 23Rd St, Choctaw, OK 73020
      View Details
    • New
      $499,900
      2,478 SF

      Choctaw Office Building For Sale

      2,478 SF office building on 0.51 acres in Choctaw, OK.
      1917 Commerce St, Choctaw, OK 73020
      View Details
    • $565,000
      Pending

      Choctaw Fourplex with Long-Term Tenants

      Well-maintained fourplex in Choctaw, OK, fully occupied with long-term tenants.
      2520 Hawkin St, Choctaw, OK 73020
      View Details
    • $1,100,000
      13,000 SF

      Warehouse with Expansion Potential

      13,000 SF warehouse on 1.75 acres with expansion land.
      11035 NE 23Rd St, Choctaw, OK 73020
      View Details
    • $199,000
      1,426 SF

      Choctaw Office Building For Sale

      1,426 SF office building with additional lots included.
      11508 NE 23Rd St, Choctaw, OK 73020
      View Details
    • $799,999
      1,500 SF

      Choctaw Cannabis Cultivation Facility

      Turnkey 5-Acre Cannabis Operation in Choctaw, OK
      3309 Henney Rd, Choctaw, OK 73020
      View Details
    • $549,900
      3,212 SF

      Choctaw Office Building - Prime Location

      Modern Office Space, High Visibility, Great Location
      14617 20Th St, Choctaw, OK 73020
      View Details
    • $235,000
      2.89 Acres

      Choctaw Commercial Land - 2.89 Acres

      Prime Choctaw location, ready for development.
      Industrial Dr, Choctaw, OK 73020
      View Details
    • $249,900
      1,849 SF

      Choctaw Office Building - Great Location

      Spacious Office w/ Warehouse & Yard
      13307 23Rd St, Choctaw, OK 73020
      View Details
    • $499,000
      5.80 Acres

      Choctaw Commercial Land Opportunity

      5.8 Acres, Zoned Commercial, High Potential
      14255 29Th St, Choctaw, OK 73020
      View Details

    FAQs

    What type of property is this?
    Commercial real estate - High-traffic location, 6.8 acres total.
    Where is this commercial real estate located?
    The property is located at 18613 Reno Ave Choctaw, OK.
    What is the asking price?
    The asking price for this property is $1,650,000.
    (405) 355-2489
    Request Owner's contact information
    18613 Reno Ave Choctaw, OK 73020
    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.
    18613 Reno Ave
    Choctaw, OK 73020
    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
    18613 Reno Ave Choctaw, OK 73020
    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
    Gaydonne Nusz
    (405) 355-2489
    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.