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    Spacious Flex Building in Lawton Title is generated by Realmo AI

    411 Larrance Street, Lawton, OK 73501

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    58,000 sq ft flex building near Lawton's central district.

    Type:Industrial
    Property size:
    58,000 SF
    Lot size:
    3.29 Acres
    Price / SF:
    $13/SF
    Added:
    Dec 12, 2019
    Days on Market:
    2368
    Last Refresh:
    May 19 at 8:45 pm

    Property Features for 411 Larrance Street

    General Information

    Standard status
    Active
    Size
    58,000 SF
    Lot size
    3.29 Acres
    Property subtype
    Industrial

    Building Details

    Year Built
    1917

    We can help!

    Listing Contact
    Johnny Owens

    Listing agent Johnny Owens License #OK 084935

    Listing office Cummins-Setters Commercial Partners

    Listing date Dec 12, 2019

    Source Crexi

    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

    HighLights

    • Approximately 58,000 sq. ft. building on approximately 3.29 acres.
    • Benefit from 1,600 amp underground electricity plus room for additional 4,000 amp communication lines.
    • Basement approximately 11,000 sq. ft. with electric door and car access.
    • Cargo elevator and 7 insulated electric garage doors on the 3rd story.
    • Metal shop with 30’ double door entrance and a 195’ long metal building.
    • Proximity to City of Lawton Fire Department, Police Department, Municipal Court, Central Plaza, and I‑44.

    Overview

    This is a 58,000 sq. ft. three-story building on approximately 3.29 acres, constructed in 1917. The property features 1,600 amp underground electricity with capacity for an additional 4,000 amp communication lines. All utilities are connected, and fiber optics are available. The building includes men's and women's restrooms, brick retaining walls, and an outdoor sprinkler system. There are three stages suitable for outside activities. A metal shop with a 30’ double door entrance is 195’ long and included in the total square footage. A covered patio on the west side measures approximately 18’ x 80’. The basement comprises approximately 11,000 sq. ft. and has an electric door providing car access and a cargo elevator. The third story includes seven insulated electric garage doors. The property is located one block south of the City of Lawton Fire Department, Police Department, and Municipal Court, and one block east of Central Plaza. It is approximately four blocks west of I-44.
    Property Profile Location Intelligence

    Current Use by Public Records

    Fairmont District Experience, ... Business Service Center

    Suggested Use

    Restaurant Real Estate Agency Dental Office Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Pharmacy

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

    Similar Places Nearby

    • Salas Urban Cantina — 247 E Gore Blvd, Lawton, OK 73501

    Location Insight

    • Map
    • Local Demand
    City
    Lawton
    County
    Comanche
    State
    Oklahoma
    Longitude
    -98.386647
    Latitude
    34.60253

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    FAQs

    What type of property is this?
    Flex space - 58,000 sq ft flex building near Lawton's central district.
    Where is this flex space located?
    The property is located at 411 Larrance Street Lawton, OK.
    What is the asking price?
    The asking price for this property is $800,000.
    What are key features of this property?
    This property features: Approximately 58,000 sq. ft. building on approximately 3.29 acres.; Benefit from **1,600 amp underground electricity** plus room for additional 4,000 amp communication lines.; Basement approximately 11,000 sq. ft. with electric door and car access.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Johnny Owens
    Real Estate License ID: OK 084935
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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.

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    411 Larrance Street, Lawton, OK 73501
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