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    Modern Commercial Space in El Reno Title is generated by Realmo AI

    1605 E Highway 66 Street, El Reno, OK 73036

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    For Lease
    $6,000/Mo $8 SF/Yr (calc)

    COMMERCIAL - El Reno, OK

    Property size:
    8,040 SF
    Lot size:
    2.35 Acres
    Added:
    Jun 1, 2025
    Days on Market:
    347
    Last Refresh:
    May 13 at 8:06 pm

    Property Features for 1605 E Highway 66 Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Bathrooms
    1
    Rooms
    Bathroom 1
    Standard status
    Active
    APN
    1605EHighway6673036
    Size
    8,040 SF
    Lot size
    2.35 Acres

    Building Details

    Year built
    2015
    Building materials
    Metal
    Roof type
    Metal

    We can help!

    Listing Contact
    Alan West

    Listing agent Alan West

    Listing office Above All Real Estate 100 S. Cooley Dr., Yukon, OK

    Listing date Jun 1, 2025

    MLS# 1172558 Listing URL

    Copyright © 2026 MLSOK, 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

    • 8,000 sq ft commercial property on 2.35 acres in El Reno, OK.
    • High visibility and easy access from the main road with ample parking.
    • Modern building constructed in 2015 with a versatile, customizable layout.
    • Fully fenced property with a power gate operator for enhanced security.
    • Located in a well‑established commercial area surrounded by other businesses.
    • NNN lease available at $6000/month.

    Overview

    This commercial property, built in 2015, offers 8,000 square feet of space on 2.35 acres in El Reno, OK. The property's design and layout are suited for various commercial uses, including retail, office space, or service-oriented businesses. It features ample parking and high visibility from the main road. The property is fully fenced with a power gate operator. The interior includes open spaces that can be customized and large windows that provide natural light. The building is equipped with amenities. The property is located in a commercial area, near other businesses. The property maintains a clean and professional environment. The lease is $6000/month NNN with a $5000 security deposit. A minimum 36 month lease is preferred.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Building Supply Dental Office Auto Repair Shop Hotel & Motel (Bike/Boat/Book/etc) Store Bed & Breakfast Plumbing Service Parking Lot & Garage

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

    Location Insight

    • Map
    • Local Demand
    City
    El Reno
    County
    Canadian
    State
    Oklahoma
    Longitude
    -97.947165
    Latitude
    35.512424

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    FAQs

    What type of property is this?
    Retail space - 8,000 SF commercial property on 2.35 acres in El Reno.
    Where is this retail space located?
    The property is located at 1605 E Highway 66 Street El Reno, OK.
    What is the lease rate?
    The lease rate is $6,000 /Mo.
    What are key features of this property?
    This property features: 8,000 sq ft commercial property on 2.35 acres in El Reno, OK.; High visibility and easy access from the main road with ample parking.; Modern building constructed in 2015 with a versatile, customizable layout.
    (405) 816-4226
    We can help!
    Listing Contact
    Alan West
    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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    1605 E Highway 66 Street, El Reno, OK 73036
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