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

    Oklahoma 37 Newcastle, OK

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Two acres of commercial land at Highway 37 and Rockwell.

    Type:RETAIL
    Lot size:
    2.50 Acres
    Added:
    May 3, 2024
    Days on Market:
    722
    Last Refresh:
    Apr 5 at 8:39 pm

    Property Features for Oklahoma 37

    General Information

    Standard status
    Active
    Lot size
    2.50 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Lesli Crofford

    Listing agent Lesli Crofford

    Listing office Oklahoma Department of Commerce

    Listing date May 3, 2024

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Oklahoma Department of Commerce

    Overview

    Commercial Land in Newcastle, OK

    Two acres of commercial land are available in Newcastle, Oklahoma, situated at the corner of Highway 37 and N Rockwell Ave. The location is in one of the top three fastest-growing cities in Oklahoma. Neighboring businesses and organizations include Farmers Insurance, Sign It Up Sign Shop, Lakeview Baptist Church, TriCity Trailers, B-Ray’s BBQ, Auto Zone, Domino C-Store, McDonald’s, Walmart Supercenter, and Braums. The property is intended for retail use.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Newcastle
    County
    McClain
    State
    Oklahoma
    Longitude
    -97.5897
    Latitude
    35.2621

    Nearby Similar for Sale

    • $95,000

      Waterfront Acre in Newcastle, OK

      Premier 1-acre lot with waterfront access and utilities on-site.
      4101 S Pennsylvania Avenue, Newcastle, OK 73065
      View Details
    • $5,950,000
      52,025 SF

      Newcastle Mixed-Use Development For Sale

      New mixed-use property with retail and self-storage in Newcastle, OK.
      550 NE 24th Street, Newcastle, OK 73065
      View Details
    • $224,900

      Prime Land in Gated Community

      5 acre lot in exclusive gated community near Newcastle, OK.
      11 Southwinds Lane, Newcastle, OK 73065
      View Details
    • $935,000

      Commercial Office Building on 2.37 Acres

      Office building with three suites on 2.37 acres.
      2830 Nw 32nd St, Newcastle, OK, 73065-6606
      View Details
    • $1,750,000

      160 Acres of Prime Land

      Agricultural land near Newcastle, OK, ideal for development and farming.
      2111 NE 16th Street, Newcastle, OK 73065
      View Details
    • $250,000

      Commercial Land on Highway 37

      1.5 acres of commercial land with high visibility.
      2608 NW 32nd Street, Newcastle, OK 73065
      View Details
    • $72,500

      One Acre Residential Lot

      One acre residential lot in Newcastle, Oklahoma.
      Hilltop TER Tract 4, Newcastle, OK 73065
      View Details
    • $189,000

      Land with Barndominium Pad

      Residential land with shop building and utilities in Newcastle, OK.
      3240 N Council Street, Newcastle, OK 73065
      View Details
    • $5,950,000
      52,025 SF

      Mixed-Use Retail and Storage Space

      New mixed-use development with retail and self-storage space for sale.
      550 NE 24th St, Newcastle, OK
      View Details
    • $50,000

      One Acre Residential Lot

      One acre lot in a peaceful Newcastle location.
      none Road, Newcastle, OK 73065
      View Details
    • $275,000

      Commercial Land on Highway 37

      Commercial property with utilities and highway visibility in Newcastle, OK.
      2300 NW HI-37 Highway, Newcastle, OK 73065
      View Details
    • $72,500

      Land For Sale

      Land available in Newcastle, Oklahoma.
      00 Hilltop TER Tract 4, Newcastle, OK 73065
      View Details

    FAQs

    What type of property is this?
    Commercial land - Two acres of commercial land at Highway 37 and Rockwell.
    Where is this commercial land located?
    The property is located at Oklahoma 37 Newcastle, OK.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: Located in one of the top 3 fastest growing cities in Oklahoma.; Prime corner location at Highway 37 and N Rockwell Ave.; **2 acres of commercial land available.**
    (405) 642-4610 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Lesli Crofford
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!