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    Turnkey Restaurant with Owner Financing Title is generated by Realmo AI

    117 S Franklin Street, Colbert, OK 74733

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    Claim this Listing
    For Sale
    $299,000

    COMMERCIAL - Colbert, OK

    Property size:
    2,160 SF
    Lot size:
    0.40 Acres
    Price / SF:
    $138/SF
    Added:
    Nov 29, 2025
    Days on Market:
    168
    Last Refresh:
    May 16 at 2:06 pm

    Property Features for 117 S Franklin Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    COM
    Interior features
    9' Ceiling Height, Display Window, Public Restrooms, Smoke Detector
    Exterior features
    Door Sign, Dumpster, Lighting, Roof Sign, Storage
    Fencing
    Privacy
    Standard status
    Active
    APN
    N001-00-030-017-0-000-00
    Size
    2,160 SF
    Lot size
    0.40 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    N001-00-030-017-0-000-00 - LTS 17-19 BLK 30 COLBERT
    Tax Annual Amount
    653

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1946
    Flooring type
    Vinyl, Wood
    Building materials
    Frame
    Roof type
    Metal
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Wil Montgomery
    Wil Montgomery

    Listing agent Wil Montgomery License #180150

    Listing office Epique Realty 8211 E Regal Pl, Tulsa, OK

    Listing date Nov 29, 2025

    MLS# 2548582

    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.

    HighLights

    • Turnkey restaurant space with all equipment, inventory, and beer/wine license included.
    • Includes a 2‑bedroom/1‑bathroom home, currently rented for $800/month, suitable for employee housing, owner‑operators, or rental income.
    • Features a large shop ideal for storage, catering, or a secondary business.
    • Prime location on Highway 69/75 with excellent visibility and easy access, minutes from Durant, Choctaw Casino, Denison/Sherman, and the Texas border.
    • Spacious dining area and fantastic outdoor space suitable for outdoor dining, live music, food truck events, or community gatherings.
    • Established reputation as a beloved local dining destination with steady traffic.

    Overview

    Located in Colbert, this commercial property, known as The Farmstead, presents an opportunity for restaurateurs and investors. The property features a spacious dining area suitable for family dinners and community events. It is fully equipped with all equipment and inventory included, plus a beer and wine license. There is also an outdoor space suitable for outdoor dining, live music, food truck events, or community gatherings. In addition to the restaurant, the property includes a large shop and a 2-bedroom, 1-bathroom home. The shop is suitable for storage or catering operations. The home is currently rented for $800 a month and can be used for employee housing, owner-operators, or as a rental for additional income. The property benefits from visibility and traffic due to its location on Highway 69/75. It also has ample parking and easy access for guests and staff. The location is near Durant, Choctaw Casino, Denison/Sherman, and the Texas border. The property is suitable for a restaurant, brewery, coffee shop, event venue, or bakery. The property size is 2,160 square feet on a lot of 0.397 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Farmstead Restaurant

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Pharmacy Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Colbert
    County
    Bryan
    State
    Oklahoma
    Longitude
    -96.501768
    Latitude
    33.853833

    Nearby Similar for Sale

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      Hwy 69-75, Colbert, OK 74733
      View Details
    • Contact for pricing
      37,823 SF

      Colbert Warehouse with Fenced Storage

      Warehouse with great visibility and easy access from U.S. 69.
      2405 S Franklin Dr , Colbert, OK
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    • $184,420
      3,800 SF

      High-Traffic Retail Property For Sale

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      View Details

    FAQs

    What type of property is this?
    Conventional restaurant - Established restaurant with equipment, shop, and residential unit.
    Where is this conventional restaurant located?
    The property is located at 117 S Franklin Street Colbert, OK.
    What is the asking price?
    The asking price for this property is $299,000.
    What are key features of this property?
    This property features: Turnkey restaurant space with all equipment, inventory, and beer/wine license included.; Includes a 2‑bedroom/1‑bathroom home, currently rented for $800/month, suitable for employee housing, owner‑operators, or rental income.; Features a large shop ideal for storage, catering, or a secondary business.
    (888) 893-3537
    We can help!
    Listing Contact
    Wil Montgomery
    Wil Montgomery
    Real Estate License ID: 180150
    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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