Restaurant and Gift Shop For
For Sale
Contact for pricing
206 NW Dearborn & 215 NW Columbia, Lawton, OK 73507
Former restaurant and gift shop near downtown and Elmer Thomas Park.
Property Size8,280 SF
Price / SF$114.73
Days on Market765
Property Features for 206 NW Dearborn & 215 NW Columbia
General Information
Standard status
Active
Size
8,280 SF
Property subtype
Retail, Self Storage
Zoning
C-5
Listing Agency:
Cummins-Setters Commercial Partners
Listed By:
Johnny Owens · License #OK 084935
(580) 357-2727
Source:
Crexi
Added: Sep 24, 2024
Changed: Oct 25
Last Checked: Oct 26 at 1:34PM
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 Cummins-Setters Commercial Partners
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property, formerly a McKenzie's Burger Garage, is available for sale. It is located near the 2nd development and Elmer Thomas Park, situated on the primary artery serving downtown. The property includes an approximately 8,280 square foot restaurant and gift shop, along with an approximately 1,000 square foot storage shed. The main building features insulated block walls, two ADA restrooms, and a fully sprinkled interior. The building has three-phase power. Note that equipment and decor are not included in the purchase price.
Key Highlights
- Prime location near 2nd development and Elmer Thomas Park on a main downtown artery.
- Large ±8,280 SF restaurant and gift shop space.
- Three‑phase power suitable for restaurant operations.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,094
Cap Rate
5.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,081,880
$1.1M
Cap Rate 7%
$772,771
$772.8K
Cap Rate 9%
$601,044
$601.0K
Market Conditions
NOI Build-Up for 8,280 SF
Gross rent
$84.5K $10.20/SF
− Vacancy
−$7.2K −$0.87/SF
EGI
$77.3K $9.33/SF
− OpEx
−$23.2K −$2.80/SF
NOI
$54.1K $6.53/SF
Area
Comanche County, OK
Vacancy
8.50%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,081,880
Cap Rate 7%
$772,771
Cap Rate 9%
$601,044
Alternative Uses
Best Use
Specialty Retail
$1.69M
$1.48M – $1.97M
NOI $118,315 @ 7.0% cap · market cap 12.45%
Second Best
Retail
$1.58M
$1.38M – $1.84M
NOI $110,427 @ 7.0% cap · market cap 11.62%
Theoretical Best
Office A
$2.04M
$1.78M – $2.38M
NOI $142,530 @ 7.0% cap · market cap 15.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Explore this area
Business Placement
Demographics for 73507, OK
21,605
Population
10,504
Households
2.1
Avg Household Size
38
Median Age
27%
College-Educated
90%
High-School Grad
243.8 sq mi
ZIP Area
89
Density / Sq Mi
$61,092
Median Household Income
$36,244
Median Earnings
$916
Median Rent
$155,400
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Retail property - Former restaurant and gift shop near downtown and Elmer Thomas Park.
Where is this retail property located?
The property is located at 206 NW Dearborn & 215 NW Columbia Lawton, OK.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Prime location near 2nd development and Elmer Thomas Park on a main downtown artery.; Large ±8,280 SF restaurant and gift shop space.; Three‑phase power suitable for restaurant operations.
