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

    16900 NE 23rd St Choctaw, OK 73020

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    5.1-acre parcel near Tractor Supply, Choctaw, OK.

    Type:Land
    Lot size:
    5.10 Acres
    Added:
    Jul 24, 2024
    Days on Market:
    639
    Last Refresh:
    Mar 17 at 1:13 pm

    Property Features for 16900 NE 23rd St

    General Information

    Standard status
    Active
    Lot size
    5.10 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Greg Banta

    Listing agent Greg Banta License #OK - 109170

    Listing office Banta Property Group

    Listing date Jul 24, 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 Banta Property Group

    Overview

    Prime Commercial Land Opportunity

    This 5.1-acre parcel is located adjacent to Tractor Supply Company near the intersection of NE 23rd Street and Triple X Road in Choctaw, Oklahoma. Situated between Choctaw and Harrah, and in close proximity to the Kickapoo Turnpike, the property offers high visibility and easy access. It is suitable for retail, industrial, or other commercial uses. A new 60-unit housing development is under construction directly south of the parcel. The owner is open to considering dividing the parcel to accommodate smaller developments or multiple tenants. The parcel is positioned near a major transportation artery and within minutes of both Choctaw and Harrah.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy Bar & Pub Furniture & Home Goods Home Appliance Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Choctaw
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.230675
    Latitude
    35.442139

    Nearby Similar for Sale

    • $429,000
      3,500 SF

      Commercial Office Building in Choctaw

      3,500 sq ft commercial office building in high-traffic location.
      17311 NE 23rd Street, Choctaw, OK 73020
      View Details
    • $850,000
      2,942 SF

      Former Bank Building on Corner Lot

      Commercial property with bank features on a busy corner.
      14900 SE 29th Street, Choctaw, OK 73020
      View Details
    • $999,000
      4,208 SF

      Choctaw Office and Warehouse Space

      Large building with office, storage, and garage space on 1.18 acres.
      14300 SE 29th Street, Choctaw, OK 73020
      View Details
    • $499,900
      2,478 SF

      Versatile Office Building in Choctaw

      Professional office building suitable for various service-based businesses.
      1917 Commerce Street, Choctaw, OK 73020
      View Details
    • $380,000

      Commercial Land in Choctaw, OK

      5.7 acre commercial land with development potential.
      14301 SE 29th Street, Choctaw, OK 73020
      View Details
    • $250,000

      Land with Building in Choctaw

      3.39 acres with a 1,500 SF building in Choctaw, OK.
      5000 S Hiwassee Road, Choctaw, OK 73020
      View Details
    • $225,000
      1,543 SF

      Office Building on NE 23rd Street

      Office building with multiple configurations and convenient location in Choctaw, OK.
      16446 NE 23rd Street, Choctaw, OK 73020
      View Details
    • $224,000

      Choctaw Acreage with Commercial Potential

      5-acre corner lot with development opportunities near turnpike exit.
      151 S Peebly Road, Choctaw, OK 73020
      View Details
    • $149,000

      Land in Choctaw, Oklahoma

      5.009 Acres of land near Tinker AFB and highways.
      14691 SE 44th Street, Choctaw, OK 73020
      View Details
    • $300,000

      Choctaw Land with Corner Lot

      5.01 acre corner lot with partially renovated structure.
      12905 SE 44th Street, Choctaw, OK 73020
      View Details
    • $499,500

      Commercial Land in Choctaw, OK

      Acreage site with high visibility and traffic flow.
      N Choctaw Rd. unit: 0, Choctaw, OK 73020
      View Details
    • $144,000

      5 Acres Ready for Homestead

      5 acres in Oklahoma County, ready for your private homestead.
      3142 Overholser Drive, Choctaw, OK 73020
      View Details

    FAQs

    What type of property is this?
    Commercial land - 5.1-acre parcel near Tractor Supply, Choctaw, OK.
    Where is this commercial land located?
    The property is located at 16900 NE 23rd St Choctaw, OK.
    What is the asking price?
    The asking price for this property is $775,000.
    What are key features of this property?
    This property features: High visibility and easy access from NE 23rd Street, Triple X Road, and the Kickapoo Turnpike.; Located next to Tractor Supply Company, a major retail anchor.; 5.1‑acre parcel suitable for retail, industrial, or other commercial uses.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Greg Banta
    Real Estate License ID: OK - 109170
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!