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    Blanchard Land with Workshop Title is generated by Realmo AI

    6188 Ward Acres Road, Blanchard, OK 73010

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    Claim this Listing
    Pending
    $110,000

    LAND - Blanchard, OK

    Lot size:
    1.63 Acres
    Added:
    Dec 9, 2025
    Days on Market:
    166
    Last Refresh:
    May 24 at 1:06 pm

    Property Features for 6188 Ward Acres Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential
    Standard status
    Pending
    APN
    6188NONEWardAcres73010
    Lot size
    1.63 Acres

    We can help!

    Listing Contact
    Debra A Penrod
    Debra A Penrod

    Listing agent Debra A Penrod License #140000

    Listing office Metro Brokers of Oklahoma 3750 W Main Ste. 150, Norman, OK

    Listing date Dec 9, 2025

    MLS# 1205086 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

    • 1.63 acre lot surveyed and approved with a newly issued address.
    • 40' x 30' workshop includes 2 overhead garage doors, block and tackle lift, metal frame exterior, cement floor, and separate meter/electric.
    • Direct access from Ward Acres Road.
    • Property is ready to connect to Blanchard Water and Sewer.
    • Area has access to fiber optics.
    • Option to purchase only the front .83 acres from the workshop to the road.

    Overview

    This 1.63-acre residential lot, surveyed and approved by the City of Blanchard, features mature trees and a newly issued address. Access is provided directly from Ward Acres Road, eliminating concerns about easements or rights of access. A notable feature is the existing 40' x 30' workshop, equipped with two overhead garage doors, a block and tackle lift for engine work, a metal frame exterior, a cement floor, and its own meter and electric supply. The property will require connection to Blanchard Water and Sewer. Fiber optic internet access is available in the area. Fencing is present along the north and east edges of the property. A metal frame chicken coop is also included on the wooded lot. The seller is open to dividing the lot and selling only the front 0.83 acres, which includes the workshop and extends to the road.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Auto Repair Shop Department Store Food Market HVAC Service Grocery & Convenience Store Discount Store Daycare Center Pet Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Blanchard
    County
    McClain
    State
    Oklahoma
    Longitude
    -97.647746
    Latitude
    35.196223

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    FAQs

    What type of property is this?
    Residential land & home lot - 1.63 acre lot with workshop in Blanchard, Oklahoma.
    Where is this residential land & home lot located?
    The property is located at 6188 Ward Acres Road Blanchard, OK.
    What is the asking price?
    The asking price for this property is $110,000.
    What are key features of this property?
    This property features: 1.63 acre lot surveyed and approved with a newly issued address.; 40' x 30' workshop includes 2 overhead garage doors, block and tackle lift, metal frame exterior, cement floor, and separate meter/electric.; Direct access from Ward Acres Road.
    (405) 640-7194
    We can help!
    Listing Contact
    Debra A Penrod
    Debra A Penrod
    Real Estate License ID: 140000
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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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