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    Medicine Park Retail Opportunity Title is generated by Realmo AI

    181 Forest Ave, Medicine Park, OK 73557

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    For Sale
    $725,000

    Commercial Sale, Other - Medicine Park, OK

    Property size:
    3,500 SF
    Price / SF:
    $207/SF
    Added:
    Mar 4, 2026
    Days on Market:
    83
    Last Refresh:
    May 26 at 3:06 am

    Property Features for 181 Forest Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2
    Standard status
    Active
    Size
    3,500 SF

    Building Details

    Year built
    1999
    Architectural style
    Other

    We can help!

    Listing Contact
    Brenda Spencer-Ragland

    Listing agent Brenda Spencer-Ragland License #183998,PersonLicenseNumber

    Listing office NextHome Tri-Covenant Realty 1001 SW B Ave, Suite 150 & 160, OK

    Listing date Mar 4, 2026

    MLS# 170669 Listing URL

    Copyright © 2026 NextHome, 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

    • Prime location in the heart of Medicine Park, a popular tourist destination, ensuring high visibility and foot traffic.
    • Established commercial property with a 23+ year history of successful retail business, demonstrating strong business potential.
    • Flexible 3,500 sq. ft. layout suitable for retail, boutique, gallery, specialty shop, or other commercial ventures.
    • Second level offers potential living space or additional workspace with 3/4 bathrooms and a kitchen area, allowing for mixed‑use possibilities.
    • Durable metal roof and attractive cobblestone exterior with vinyl siding, complementing Medicine Park's unique character.
    • Potential kitchen/service area with a three‑compartment sink on the main level, providing additional flexibility for various business uses.

    Overview

    Located in Medicine Park, Oklahoma, this approximately 3,500 sq. ft. retail building is situated in a popular tourist and resort destination. The property, located at 181 Forest Avenue, has been home to a successful retail business for over 23 years. The flexible commercial layout is suited for retail, boutique, gallery, specialty shop, or other commercial ventures. The building features a durable metal roof and a cobblestone exterior with vinyl siding. The main level includes two customer restrooms and a versatile retail space. Toward the rear, there is a potential kitchen or service area equipped with a three-compartment sink. The second level offers potential living space or additional workspace, featuring 3/4 bathrooms and an additional kitchen sink, cabinets, and refrigerator, making it suitable for a variety of residential or mixed-use possibilities. The property offers views and a small-town atmosphere that attracts visitors year-round. The property has potential for business or mixed-use use.

    Financial Insights

    Value Estimation Calculated for Retail

    Conservative
    $518.6K
    NOI $46,678 @ 9.00% cap · cautious / downside scenario
    Moderate
    $666.8K
    NOI $46,678 @ 7.00% cap · market / base-case scenario
    Aggressive
    $933.6K
    NOI $46,678 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.
         Calculated for Retail

    Component $ $/SF
    Gross rent $74.3k $21.24
    − Vacancy −$7.7k −$2.19
    EGI $66.7k $19.05
    − OpEx −$20.0k −$5.72
    NOI $46.7k $13.34
    3,500 SF · lease $21.24/SF/yr · vacancy 10.30% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Retail
    $666.8K
    $583.5K – $778.0K (±1% cap)
    NOI $46,678 @ 7.0% cap · market cap 6.44%
    Second Best
    Mixed Use
    $320.6K
    $280.6K – $374.1K (±1% cap)
    NOI $22,444 @ 7.0% cap · market cap 3.10%
    Theoretical Best
    Office A
    $860.7K
    $753.1K – $1.00M (±1% cap)
    NOI $60,248 @ 7.0% cap · market cap 8.31%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Food Market Hair Salon Clothing & Fashion Store Bakery (Bike/Boat/Book/etc) Store Wine and Liquor Store Nail Salon Arcade & Gaming Center Restaurant Farmer's Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Medicine Park
    County
    Comanche
    State
    Oklahoma
    Longitude
    -98.499636
    Latitude
    34.727239

    Nearby Similar for Sale

    • $899,000

      Medicine Park Bar & Grill

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      View Details
    • $950,000
      1,044 SF

      Restaurant Opportunity in Medicine Park

      Restaurant with equipment on 1.25 acres in Medicine Park.
      230 E Lake Dr, Medicine Park, OK 73557
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    FAQs

    What type of property is this?
    Retail space - 3,500 sq ft retail building in tourist destination.
    Where is this retail space located?
    The property is located at 181 Forest Ave Medicine Park, OK.
    What is the asking price?
    The asking price for this property is $725,000.
    What are key features of this property?
    This property features: Prime location in the heart of Medicine Park, a popular tourist destination, ensuring high visibility and foot traffic.; Established commercial property with a 23+ year history of successful retail business, demonstrating strong business potential.; Flexible **3,500 sq. ft. layout** suitable for retail, boutique, gallery, specialty shop, or other commercial ventures.
    (580) 699-7653
    We can help!
    Listing Contact
    Brenda Spencer-Ragland
    Real Estate License ID: 183998,PersonLicenseNumber
    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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