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    220 Main St Spiro, OK 74959

    For Sale
    $149,999

    Five-unit apartment building, value-add opportunity.

    Property size:
    7,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional value-add investment opportunity presents a two-story, five-unit apartment building located at 220 & 224 Main Street in Spiro, Oklahoma (zip code 74959, Le Flore County). The property boasts a total of 7,500 square feet of net rentable space, with each unit priced at $29,999.80. The asking price for the entire property is $149,999, translating to $20 per square foot. The building is classified as Class C and currently operates as a multifamily property with potential for further development. The property includes five individual units, some of which are currently leased. In addition to the apartment units, the property also includes additional storage space. One unit is currently configured as a dentist's clinic, offering potential for continued use or conversion to residential space. This property presents a unique opportunity for investors seeking a value-add project in a growing market. The property is being offered for sale by owner.

    Property Features for 220 Main St

    General Information

    Property type
    Multifamily properties
    Square Feet
    7,500 SF
    Class
    C

    Building Details

    Buildings
    1
    Stories
    2
    Units
    5

    HighLights

    • Five‑unit multifamily property at 220 & 224 Main Street, Spiro, OK 74959.
    • 7,500 square feet of net rentable space.
    • Asking price: $149,999 ($20/SF).
    • Class C multifamily building with value‑add potential.
    • Includes five units, some currently leased, plus additional storage.
    • One unit currently configured as a dentist's office.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Spiro
    County
    Le Flore
    State
    Oklahoma
    Longitude
    -94.62110640364
    Latitude
    35.238983539138

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    FAQs

    What type of property is this?
    Multifamily property - Five-unit apartment building, value-add opportunity.
    Where is this multifamily property located?
    The property is located at 220 Main St Spiro, OK.
    What is the asking price?
    The asking price for this property is $149,999.
    What are key features of this property?
    This property features: Five-unit multifamily property at 220 & 224 Main Street, Spiro, OK 74959.; 7,500 square feet of net rentable space.; Asking price: $149,999 ($20/SF).
    Request Owner's contact information
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    Spiro, OK 74959
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    Realmo Value Estimation

    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.

    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.

    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
    220 Main St Spiro, OK 74959
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