Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Downtown Watonga Mixed-Use Building Title is generated by Realmo AI

    121 E Main St, Watonga, OK 73772

    View on Map
    Claim this Listing
    For Sale
    $65,000

    COMMERCIAL - Watonga, OK

    Property size:
    750 SF
    Lot size:
    0.08 Acres
    Price / SF:
    $86/SF
    Added:
    Jan 11, 2023
    Days on Market:
    1235
    Last Refresh:
    May 30 at 3:06 am

    Property Features for 121 E Main St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Size
    750 SF
    Lot size
    0.08 Acres

    Taxes and HOA fees

    Tax Annual Amount
    479

    Utilities

    Heating system
    Central, Natural Gas
    Cooling system
    Gas (Cooling), Central Air

    Building Details

    Year built
    1958
    Floors in Building
    2
    Roof type
    Flat

    We can help!

    Listing Contact
    Andrea Lauminick
    Andrea Lauminick

    Listing agent Andrea Lauminick License #158816

    Listing office Stewart Real Estate LLC 100 E Main Brokerage #144311, Watonga, OK

    Listing date Jan 11, 2023

    MLS# 20230048

    Copyright © 2026 Northwest Oklahoma Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Mixed‑use property ideal for business and residential use in Downtown Watonga
    • Downstairs retail space (approx. 750 sq ft) with bathroom, shower room, and kitchen sink area
    • Upstairs living quarters (approx. 750 sq ft) with kitchen, bathroom, living area, and bedroom, plus rooftop access
    • Large storage area (approx. 1000 sq ft) with overhead garage door accessible from the alley
    • Recent updates include central heat & air, hot water tank, and some electrical/plumbing work
    • Unique bathroom featuring a 'quirky barn tin shower'

    Overview

    Located in Downtown Watonga, this mixed-use building presents an opportunity for starting a business with rental income potential or private living space. The property currently houses Big Bobbins. The downstairs area features approximately 750 square feet of front retail space, a bathroom, a separate room with a walk-in shower, and a kitchen sink area. The back half of the building provides approximately 1000 square feet of storage space, accessible via an overhead garage door and a regular metal door from the alley. Upstairs, there are approximately 750 square feet of living quarters, including a kitchen with access to the rooftop, a bathroom with a barn tin shower, a living area, and a bedroom. Updates within the past 10 years include a central heat and air unit, a hot water tank, and some electrical and plumbing work. The lot size is 0.08 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lauminick's Heat & Air Hardware & Home Improvement Oasis Church Church

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Similar Places Nearby

    • Watonga Floral & Gifts — 108 W Main St, Watonga, OK 73772
    • Plant Place — 301 Russworm Dr, Watonga, OK 73772

    Location Insight

    • Map
    • Local Demand
    City
    Watonga
    County
    Blaine
    State
    Oklahoma
    Longitude
    -98.412057
    Latitude
    35.844682

    Nearby Similar for Sale

    • $350,000
      1,878 SF

      Turnkey Restaurant with Highway Frontage

      Fully equipped restaurant ready for your next business venture.
      421 W Russworm Dr, Watonga, OK 73772
      View Details
    • $100,000
      1,900 SF

      Highway Commercial Building in Watonga

      Commercial building on highway with potential for various businesses.
      405 W Russworm Dr, Watonga, OK 73772
      View Details
    • $130,000

      Storage Units in Watonga, OK

      44 storage units with highway frontage in Watonga, Oklahoma.
      401 W Russworm, Watonga, OK 73772
      View Details
    • $155,000

      Watonga Multifamily Investment Opportunity

      Four-unit multifamily property in Watonga, Oklahoma with rental income.
      114 N Leach, Watonga, OK 73772
      View Details
    • $130,000

      Storage Units on State Highway

      44 storage units with state highway frontage.
      401 W Russworm, Watonga, OK 73772
      View Details
    • $95,000
      7,100 SF

      Downtown Watonga Mixed-Use Opportunity

      Two buildings in downtown Watonga, Oklahoma, with retail and office potential.
      211 E Main St, Watonga, OK
      View Details
    • $45,000
      565 SF

      Historic Watonga Commercial Property

      Prime real estate suitable for small business or investment.
      308 W Russworm Drive, Watonga, OK 73772
      View Details

    FAQs

    What type of property is this?
    Storefront property - Mixed-use building with retail, storage, and living quarters.
    Where is this storefront property located?
    The property is located at 121 E Main St Watonga, OK.
    What is the asking price?
    The asking price for this property is $65,000.
    What are key features of this property?
    This property features: Mixed‑use property ideal for business and residential use in Downtown Watonga; Downstairs retail space (approx. 750 sq ft) with bathroom, shower room, and kitchen sink area; Upstairs living quarters (approx. 750 sq ft) with kitchen, bathroom, living area, and bedroom, plus rooftop access
    (580) 623-1217
    We can help!
    Listing Contact
    Andrea Lauminick
    Andrea Lauminick
    Real Estate License ID: 158816
    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

    Thank You for Inquiry
    121 E Main St, Watonga, OK 73772
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!