Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1400 Lera Dr Weatherford, OK 73096

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Versatile 5,104 sq ft building, vacant.

    Property size:
    5,104 SF

    Property Features for 1400 Lera Dr

    General Information

    Property type
    Churches & religious facilities
    Square Feet
    5,104 SF
    Lot Size
    23,522 SF

    Building Details

    Year Built
    1997
    Buildings
    1
    Stories
    1

    We can help!

    Listing Contact
    Kip Cummins

    Listing Agency: Cummins-Setters Commercial Listing Agent: Kip Cummins

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional 5,104 square foot mixed-use property, located at 1400 Lera Drive in Weatherford, Oklahoma, presents a unique investment opportunity. Built in 1997, this single-story building sits on a 0.54-acre lot and is zoned for urban commercial use. Previously configured as a medical clinic with a large gym/public area, the property offers a large open layout with ample office and storage space. Its adaptability makes it suitable for a variety of uses, including daycare, church, or sports/entertainment facilities. The property's versatile design allows for customization to meet the specific needs of a wide range of businesses. The high-growth area and strong, steady economy of Weatherford provide a stable market for this property. The vacant status allows for immediate occupancy and the opportunity to tailor the space to your exact specifications. The property's location in Custer County, Oklahoma, with a 73096 zip code, offers convenient access to local amenities and transportation routes. This is an excellent opportunity to acquire a substantial property in a thriving community.
    Property Profile Location Intelligence

    Current Use by Public Records

    Churches & religious facilities

    Map

    City
    Weatherford
    County
    Custer
    State
    Oklahoma
    Longitude
    -98.671294382685
    Latitude
    35.5389012097

    Nearby Similar for Sale

    • $325,000
      9,600 SF

      Versatile Commercial Building in Weatherford

      9,600 SF commercial building on 2.41 acres near I-40.
      1040 E 1040 Rd, Weatherford, OK 73096
      View Details
    • $752,000
      3,760 SF

      Commercial Building on Route 66

      Versatile 3760 sqft commercial building on a full acre lot.
      1200 N Lyle Rd, Weatherford, OK 73096
      View Details
    • $1,750,000
      16,000 SF

      Weatherford Commercial Property with I-40 Visibility

      16,000 sq ft commercial building on 5 acres near I-40.
      23894 S Frontage Rd, Weatherford, OK 73096
      View Details
    • $749,900
      5,600 SF

      Mixed-Use Property in Weatherford, OK

      Renovated mixed-use property with retail and residential potential.
      115 E Main St, Weatherford, OK 73096
      View Details
    • $199,000
      1,666 SF

      Well-Maintained Duplex in Quiet Cul-de-Sac

      Duplex with updated units, long-term tenants, and rental income potential.
      117 W Mckormic Dr, Weatherford, OK 73096
      View Details
    • $375,000
      9,662 SF

      Weatherford Bowling Alley Business Opportunity

      Turn-key bowling alley with arcade and expansion potential.
      123 S Broadway St, Weatherford, OK 73096
      View Details
    • $1,750,000
      16,000 SF

      High-Visibility Commercial Building on I-40

      16,000 sq ft building on 5 acres with I-40 visibility.
      23894 S Frontage Rd, Weatherford, OK 73096
      View Details
    • $195,000
      0.24 Acres

      Established Nursery in Weatherford, OK

      Nursery with office, storage, and greenhouses in Weatherford, OK.
      611 E Clark Ave, Weatherford, OK 73096
      View Details
    • $499,000

      High-Visibility Frontage Retail Space

      Retail space with high-visibility frontage along I-40.
      25254 S Frontage Rd, Weatherford, OK 73096
      View Details
    • $749,900
      4,132 SF

      In Fine Feather: Weatherford Gem

      Historic building, versatile space, prime location.
      115 Main St, Weatherford, OK 73096
      View Details
    • Contact for pricing

      Office and Warehouse on Highway

      Office and warehouse space with fenced yard and parking.
      10121 Highway 54, Weatherford, OK 73096
      View Details
    • New
      $149,000
      1,500 SF

      Weatherford Duplex with Privacy

      Two-bedroom, one-bath duplex with washer/dryer hookups on a private lot.
      113 W Mckormic St, Weatherford, OK 73096
      View Details

    FAQs

    What type of property is this?
    Church & religious facility - Versatile 5,104 sq ft building, vacant.
    Where is this church & religious facility located?
    The property is located at 1400 Lera Dr Weatherford, OK.
    What is the asking price?
    The asking price for this property is $449,900.
    What are key features of this property?
    This property features: High-growth submarket with significant development potential.; Versatile floor plan suitable for a variety of commercial uses.; Region boasts a robust and stable economy.
    Request Owner's contact information
    1400 Lera Dr Weatherford, OK 73096
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1400 Lera Dr
    Weatherford, OK 73096
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    1400 Lera Dr Weatherford, OK 73096
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Kip Cummins
    Real Estate License ID: OK176412
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!