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    1121 Washington Ave Krebs, OK 74554

    Sponsored
    For Sale
    $262,500

    Versatile Commercial Property, Excellent Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    406
    This commercially zoned property in Krebs, Oklahoma, presents a unique investment opportunity. Priced at $262,500, it sits on a 0.23-acre lot and offers a variety of spaces ideal for diverse commercial uses. The main shop, measuring 40x75 feet, features three overhead bay doors, a bathroom, and a storage room—perfect for automotive, manufacturing, or large-scale storage. A secondary shop (30x34 feet) provides additional storage or workspace. The 16x34-foot office space includes three restrooms, offering ample comfort and functionality for business operations. Security is ensured by a fully fenced perimeter. The property's prime location, just one mile from Highway 69, provides excellent road frontage and high visibility, ensuring significant traffic and attention. This strategic location offers easy access for transportation and commuting, as well as high accessibility for clients and suppliers. The combination of versatile spaces, strong security features, and a highly visible location makes this property an attractive investment for businesses seeking expansion or a new base of operations in a thriving area. Don't miss this chance to acquire a well-equipped and strategically positioned commercial property in Krebs, Oklahoma. The property is zoned for commercial use and offers significant potential for a variety of businesses.

    Property Features for 1121 Washington Ave

    General Information

    Property type
    Office Properties & Spaces
    Lot Size
    10,019 SF

    We can help!

    Listing Contact
    Chelsey Ridenour
    Chelsey Ridenour

    Learn more

    HighLights

    • $262,500 asking price for this Krebs, OK commercial property.
    • 0.23‑acre lot with excellent road frontage and visibility, located one mile from Highway 69.
    • Main shop: 40x75 ft with three overhead bay doors, bathroom, and storage room.
    • Secondary shop: 30x34 ft, suitable for storage or workspace.
    • 16x34 ft office space with three restrooms.
    • Fully fenced for security.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Spa & Massage Restaurant Building Supply Wholesale Shop Hair Salon Clothing Store Hotel & Motel Gym & Fitness Dental Office Nail Salon

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

    Location Insight

    City
    Krebs
    County
    40121
    State
    Oklahoma

    Nearby Similar for Sale

    • $125,000
      1,500 SF

      Multipurpose Office Building in Krebs

      Office building in historic Krebs, OK, with potential for multiple businesses.
      245 S Main St, Krebs, OK 74554
      View Details
    • $895,000
      5,500 SF

      Prime Krebs Industrial Property

      High-visibility, 5,500 sq ft industrial space on 1.46 acres.
      2046 George Nigh Expy, Krebs, OK 74501
      View Details

    FAQs

    What type of property is this?
    Office Property / Space - Versatile Commercial Property, Excellent Location
    Where is this office property / space located?
    The property is located at 1121 Washington Ave Krebs, OK.
    What is the asking price?
    The asking price for this property is $262,500.
    What are key features of this property?
    This property features: $262,500 asking price for this Krebs, OK commercial property.; 0.23-acre lot with excellent road frontage and visibility, located one mile from Highway 69.; Main shop: 40x75 ft with three overhead bay doors, bathroom, and storage room.
    Request Owner's contact information
    1121 Washington Ave Krebs, OK 74554
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    Krebs, OK 74554
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    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
    1121 Washington Ave Krebs, OK 74554
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    We can help!
    Listing Contact
    Chelsey Ridenour
    Chelsey Ridenour
    Real Estate License ID: OK
    Learn more
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