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    Downtown Atoka Investment Opportunity Title is generated by Realmo AI

    291 E Court St, Atoka, OK 74525

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    Two-story brick building in revitalized downtown Atoka, Oklahoma.

    Type:Retail
    Property size:
    2,860 SF
    Added:
    Sep 12, 2023
    Days on Market:
    997
    Last Refresh:
    May 13 at 8:13 pm

    Property Features for 291 E Court St

    General Information

    Standard status
    Active
    Size
    2,860 SF
    Property subtype
    Retail

    Building Details

    Year Built
    1900

    We can help!

    Listing Contact
    Shannon Wells

    Listing agent Shannon Wells License #OK 175767

    Listing office Artemis Commercial Group

    Listing date Sep 12, 2023

    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 Artemis Commercial Group

    HighLights

    • Prime location across from Reba McEntire's 'Reba's Place' which attracts 250,000 visitors monthly.
    • Ground floor currently leased to Jackson’s Family Dining, providing immediate rental income.
    • Two‑story brick building with spacious apartments on the second floor.
    • Significant new developments in Atoka including a Marriott Hotel to be built directly behind the property, a Waterpark, Airport, and Downtown Amphitheater.
    • Historic building (built in 1900) with 15' ceilings on the ground floor and 13' ceilings on the second floor, exposed brick walls, and lots of natural light.
    • Proximity to Tishomingo (Blake Shelton's Ole Red) and Oklahoma City (Toby Keith's Bar and Grill).

    Overview

    Located in downtown Atoka, Oklahoma, across from Reba’s Place, this two-story brick building was constructed in 1900. The ground floor, currently leased to Jackson’s Family Dining, features 15-foot ceilings. The second floor contains apartments with 13-foot ceilings. The property includes exposed brick walls, natural light, a custom-built bar, and a full kitchen. The building offers potential due to its location in Reba McEntire's Hometown. A Marriott hotel is planned for construction in the lot directly behind the property. New construction in Atoka will include a waterpark, airport, and downtown amphitheater. The property is located near Tishomingo, home of Blake Shelton's Ole Red Restaurant and Bar, and Oklahoma City, home of Toby Keith's Bar and Grill. The property size is 2860 square feet.
    Location Intelligence

    Current Use by Public Records

    Jackson Family Dining Restaurant

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Big Box & Wholesale Store Skin Care Clinic

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

    Similar Places Nearby

    • Kathryn's Flowers & Gifts — 365 E Court St, Atoka, OK 74525
    • Steph's Creations Floral Design — 393 W Liberty Rd, Atoka, OK 74525

    Location Insight

    • Map
    • Local Demand
    City
    Atoka
    County
    Atoka
    State
    Oklahoma
    Longitude
    -96.125149
    Latitude
    34.385289

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    FAQs

    What type of property is this?
    Storefront property - Two-story brick building in revitalized downtown Atoka, Oklahoma.
    Where is this storefront property located?
    The property is located at 291 E Court St Atoka, OK.
    What are key features of this property?
    This property features: Prime location across from Reba McEntire's 'Reba's Place' which attracts 250,000 visitors monthly.; Ground floor currently leased to Jackson’s Family Dining, providing immediate rental income.; Two‑story brick building with spacious apartments on the second floor.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Shannon Wells
    Real Estate License ID: OK 175767
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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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