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

    621 E Broadway St Altus, OK 73521

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $251,928

    20,994 SF corner lot ideal for retail/commercial use.

    Lot size:
    20.00 Acres

    Property Features for 621 E Broadway St

    General Information

    Lot size
    20.00 Acres

    Building Details

    Year built
    1960

    We can help!

    Listing Contact
    Paul Ravencraft
    Paul Ravencraft
    Source: Tcnworldwide

    Listing Agency: Price Edwards and Company - Oklahoma City Listing Agent: Paul Ravencraft

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

    Learn more

    Overview

    Corner Lot on Broadway

    The property is a 20,994 square foot site with a 2016 square foot home. Located at the corner of Broadway and Navajoe Street in Altus, OK, the site is situated on a hard corner lot. Broadway, also known as Highway 62, is one of two main highways in Altus. The highest and best use is most likely for retail or commercial purposes, and it is ideal for national fast food.
    Location Intelligence

    Current Use by Public Records

    White Swan Laundromat (Bike/Boat/Book/etc) Store Chicken express Restaurant

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Altus
    County
    Jackson
    State
    Oklahoma
    Longitude
    -99.326718
    Latitude
    34.638177

    Nearby Similar for Sale

    • $349,000
      3,780 SF

      Versatile Business Complex on Broadway

      Multi-faceted business complex with three storefronts in Altus, Oklahoma.
      2300 E Broadway St, Altus, OK 73521
      View Details
    • $1,250,000
      7,540 SF

      Established Automotive Business with Real Estate

      Long-standing Altus business with inventory, assets, and real estate for sale.
      1420 W Broadway St, Altus, OK 73521
      View Details
    • $225,000
      2,940 SF

      Altus Restaurant or Retail Opportunity

      Versatile commercial property suitable for restaurant, retail, or office use.
      114 E Cypress St, Altus, OK 73521
      View Details
    • $349,000
      3,780 SF

      Altus, Oklahoma Business Complex

      Multi-faceted business complex with three storefronts on Broadway.
      2300 E Broadway St, Altus, OK 73521
      View Details
    • $1,250,000
      7,540 SF

      Altus Automotive Business and Property

      Established auto shop with inventory, assets, and real estate.
      1420 W Broadway St, Altus, OK 73521
      View Details
    • Contact for pricing
      9,900 SF

      Versatile Building with Flexible Space

      Adaptable building offering diverse possibilities for future utilization.
      113 S Main St, Altus, OK 73521
      View Details
    • $155,000

      Prime Commercial Space on Square

      Highly visible, updated commercial property in downtown Altus, Oklahoma.
      102 W Broadway St, Altus, OK 73521
      View Details
    • $319,000

      Remodeled Commercial Building in Altus

      Remodeled block building with office space and parking.
      1904 E Broadway St, Altus, OK 73521
      View Details
    • Contact for pricing

      Two-Story Brick Office Building

      Two-story commercial office building near major businesses and franchises.
      111 Sequoyah Ln, Altus, OK 73521
      View Details
    • $400,000
      2,948 SF

      Altus Restaurant - Turnkey Opportunity

      Established Mexican Restaurant, Great Income!
      1221 Grady St, Altus, OK 73521
      View Details
    • $349,000
      3,780 SF

      Altus Multi-Storefront Complex

      Three storefronts, prime Broadway location.
      2300 Broadway St, Altus, OK 73521
      View Details
    • $319,000
      2,415 SF

      Altus Office Building - Great Location

      Remodeled Office Building with Ample Parking
      1904 Broadway St, Altus, OK 73521
      View Details

    FAQs

    What type of property is this?
    Commercial land - 20,994 SF corner lot ideal for retail/commercial use.
    Where is this commercial land located?
    The property is located at 621 E Broadway St Altus, OK.
    What is the asking price?
    The asking price for this property is $251,928.
    What are key features of this property?
    This property features: - Hard corner lot on Broadway (Highway 62); - Great location at the corner of Broadway and Navajoe Street; - Ideal for national fast food restaurant
    (405) 239-1220
    Request Owner's contact information
    621 E Broadway St Altus, OK 73521
    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.
    621 E Broadway St
    Altus, OK 73521
    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
    621 E Broadway St Altus, OK 73521
    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
    Paul Ravencraft
    Paul Ravencraft
    Real Estate License ID: OK 078872
    (405) 239-1220 (405) 226-5467 (405) 843-7474
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!