2903 Northeast Tortoise Drive Lawton, OK 73507
Four-unit property near Fort Sill with income-generating potential.
Property Features for 2903 Northeast Tortoise Drive
General Information
- Standard status
- Active
- Size
- 3,328 SF
- Property subtype
- Multifamily
Listing office Cummins-Setters Commercial Partners (800) 294-8118
Listing date May 21, 2026
Source Crexi
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Investment Insights
Based on property information with market context.
Key Highlights
- Income‑generating asset with $2,925 monthly gross rental income and potential for increase.
- 100% occupied, ensuring immediate cash flow.
- VA loan eligibility for owner‑occupancy in one of the units (if buyer is VA eligible).
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $30.0k | $9.00 |
| − Vacancy | −$3.5k | −$1.05 |
| EGI | $26.4k | $7.95 |
| − OpEx | −$7.9k | −$2.38 |
| NOI | $18.5k | $5.56 |
