Restaurant and Gift Shop For
206 NW Dearborn & 215 NW Columbia Lawton, OK 73507
For Sale
Contact for pricing
Former restaurant and gift shop near downtown and Elmer Thomas Park.
Property Size8,280 SF
Price / SF$114.73
Days on Market674
Property Features for 206 NW Dearborn & 215 NW Columbia
General Information
Standard status
Active
Size
8,280 SF
Property subtype
Retail, Self Storage
Listing Agency:
Cummins-Setters Commercial Partners
(580) 536-4192
Listed By:
Johnny Owens · License #OK 084935
Source:
Crexi
Added: Sep 24, 2024
Changed: Jul 6
Last Checked: Jul 28 at 6:24PM
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
Investment Insights
Based on property information with market context.
This property, formerly a McKenzie's Burger Garage, is available for sale. It is located near the 2nd development and Elmer Thomas Park, situated on the primary artery serving downtown. The property includes an approximately 8,280 square foot restaurant and gift shop, along with an approximately 1,000 square foot storage shed. The main building features insulated block walls, two ADA restrooms, and a fully sprinkled interior. The building has three-phase power. Note that equipment and decor are not included in the purchase price.
Key Highlights
- Prime location near 2nd development and Elmer Thomas Park on a main downtown artery.
- Large ±8,280 SF restaurant and gift shop space.
- Three‑phase power suitable for restaurant operations.
Financial Insights For Self Storage
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $84.5k | $10.20 |
| − Vacancy | −$7.2k | −$0.87 |
| EGI | $77.3k | $9.33 |
| − OpEx | −$23.2k | −$2.80 |
| NOI | $54.1k | $6.53 |
8,280 SF · lease $10.20/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$1.69M
$1.48M – $1.97M
NOI $118,315 @ 7.0% cap · market cap 12.45%
Second Best
Retail
$1.58M
$1.38M – $1.84M
NOI $110,427 @ 7.0% cap · market cap 11.62%
Theoretical Best
Office A
$2.04M
$1.78M – $2.38M
NOI $142,530 @ 7.0% cap · market cap 15.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Retail property - Former restaurant and gift shop near downtown and Elmer Thomas Park.
Where is this retail property located?
The property is located at 206 NW Dearborn & 215 NW Columbia Lawton, OK.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Prime location near 2nd development and Elmer Thomas Park on a main downtown artery.; Large ±8,280 SF restaurant and gift shop space.; Three‑phase power suitable for restaurant operations.
