Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Restaurant Building on Highway 183 Title is generated by Realmo AI

    1120 S Main St, Frederick, OK 73542

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Large restaurant building suitable for various commercial uses.

    Type:Hospitality, Industrial, Mixed Use, Office, Retail
    Property size:
    5,594 SF
    Price / SF:
    $43/SF
    Added:
    Jul 23, 2024
    Days on Market:
    684
    Last Refresh:
    May 12 at 8:04 pm

    Property Features for 1120 S Main St

    General Information

    Standard status
    Active
    Size
    5,594 SF
    Property subtype
    Hospitality, Industrial, Mixed Use, Office, Retail

    Building Details

    Year Built
    1958

    We can help!

    Listing Contact
    Clay Johnson

    Listing agent Clay Johnson License #OK205823

    Listing office Cummins-Setters Commercial Partners LLC

    Listing date Jul 23, 2024

    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 LLC

    HighLights

    • Large restaurant building on HWY 183 in SW Oklahoma.
    • Equipped commercial kitchen and dining room furniture included (if desired).
    • Separate restaurant and event/bar sides, each with restrooms.
    • Meets all OK State Health codes.
    • Suitable for various uses: restaurant, lodge, retail, office, manufacturing, data hosting, etc.
    • Lease option available under a lease‑purchase contract.

    Overview

    This is a large restaurant building situated on Highway 183 in southwest Oklahoma. The 5594 square-foot building has operated as a full-service breakfast, lunch, and dinner restaurant and meets Oklahoma State Health codes. The property features a restaurant side and an event/bar side, connected by a large commercial kitchen and prep area, allowing each side to function independently while being serviced from the same kitchen. Men's and women's restrooms are available on each side. Much of the kitchen equipment and dining room furniture can remain with the building. The building could also be used for a variety of other purposes, such as a hunters/outfitters lodge, retail showroom, office space, light manufacturing, or data hosting.
    Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Frederick
    County
    Tillman
    State
    Oklahoma
    Longitude
    -99.017063
    Latitude
    34.379019

    Nearby Similar for Sale

    • $1,050,000

      Prominent Self-Storage Facility in Frederick

      Largest self-storage facility in Frederick, OK with growth potential.
      826 S 10th , Frederick, OK 73542
      View Details
    • $1,050,000

      Donner Springs Storage in Frederick

      Largest self-storage facility in Frederick, Oklahoma with growth potential.
      826 S 10th , Frederick, OK 73542
      View Details
    • $1,050,000
      19,672 SF

      Frederick Self-Storage Facility For Sale

      Largest self-storage facility in Frederick, Oklahoma, with growth potential.
      901 S 11th St, Frederick, OK
      View Details

    FAQs

    What type of property is this?
    Conventional restaurant - Large restaurant building suitable for various commercial uses.
    Where is this conventional restaurant located?
    The property is located at 1120 S Main St Frederick, OK.
    What is the asking price?
    The asking price for this property is $245,000.
    What are key features of this property?
    This property features: Large restaurant building on HWY 183 in SW Oklahoma.; Equipped commercial kitchen and dining room furniture included (if desired).; Separate restaurant and event/bar sides, each with restrooms.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Clay Johnson
    Real Estate License ID: OK205823
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    1120 S Main St, Frederick, OK 73542
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!