Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    The Largest CRE Database in the US with Over 1 Million Listings

    NW E Morrow Rd and S Adams Rd D 2.24 AC Sand Springs, OK 74063

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

    2.24 acre commercial land parcel ready for permitting.

    Type:Land
    Lot size:
    2.24 Acres
    Added:
    Nov 10, 2017
    Days on Market:
    3091
    Last Refresh:
    Mar 17 at 1:13 pm

    Property Features for NW E Morrow Rd and S Adams Rd D 2.24 AC

    General Information

    Standard status
    Active
    Lot size
    2.24 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Nick Lombardi

    Listing agent Nick Lombardi License #OK 152277

    Listing office Frisbie Lombardi

    Listing date Nov 10, 2017

    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 Frisbie Lombardi

    Overview

    Commercial Land Ready For Permitting

    Parcel D consists of approximately 2.24 acres. The property is zoned and all utilities are in place, making it ready for permitting.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Sand Springs
    County
    Tulsa
    State
    Oklahoma
    Longitude
    -96.1019871
    Latitude
    36.136294

    Nearby Similar for Sale

    • $799,000
      2,048 SF

      Sand Springs Commercial Building For Sale

      2,048 SF commercial building with drive-through, built in 2024.
      17407 W 9th Street S, Sand Springs, OK 74063
      View Details
    • $349,000
      3,375 SF

      Downtown Sand Springs Storefront Opportunity

      Commercial storefront in Sand Springs, ready for custom design.
      224 N Main Street, Sand Springs, OK 74063
      View Details
    • $1,395,000
      18,529 SF

      Sand Springs Commercial Property For Sale

      18,529 SF manufacturing and office space on 1.26 acres.
      5816 S 116th West Avenue, Sand Springs, OK 74063
      View Details
    • $420,000
      4,853 SF

      Prime Commercial Land Opportunity

      2.73 acres in a rapidly growing area.
      4655 S 112th W Avenue, Sand Springs, OK 74063
      View Details
    • $850,000
      8,100 SF

      Downtown Sand Springs Mixed-Use Building

      Fully leased mixed-use building with commercial and residential units.
      118 N Main Street, Sand Springs, OK 74063
      View Details
    • $55,000

      Gull Bay Land Opportunity

      Two combined lots in gated community near Keystone Lake.
      953 W Bayshore Drive, Sand Springs, OK 74063
      View Details
    • $85,000

      Residential Land Near Keystone Lake

      3.293 acre residential lot near Keystone Lake.
      1009 S 220 West Avenue, Sand Springs, OK 74063
      View Details
    • $124,999

      Keystone Lake Acreage with Shop

      Sand Springs acreage near Keystone Lake with versatile shop.
      83 Seneca Drive, Sand Springs, OK 74063
      View Details
    • $639,900

      43.5 Acres in Sand Springs

      AG-zoned land with pond, creek, shop, and fencing.
      5252 S 227th West Avenue, Sand Springs, OK 74063
      View Details
    • $81,900

      Lake Keystone Residential Land

      One acre lot in gated lakeside community near Tulsa.
      715 S 275th West Avenue, Sand Springs, OK 74063
      View Details
    • $449,700

      Land Near Meadow Lake Ranch

      30-40 acre parcel with mature trees and stunning views.
      3450 S 137th West Avenue, Sand Springs, OK 74063
      View Details
    • $74,900

      Lake Keystone Residential Land

      Residential land near Lake Keystone, build your dream home!
      27445 W 8th Street S, Sand Springs, OK 74063
      View Details

    FAQs

    What type of property is this?
    Commercial land - 2.24 acre commercial land parcel ready for permitting.
    Where is this commercial land located?
    The property is located at NW E Morrow Rd and S Adams Rd D 2.24 AC Sand Springs, OK.
    What is the asking price?
    The asking price for this property is $345,000.
    What are key features of this property?
    This property features: ±2.24 acre parcel; Priced at $345,000.00; Zoned for development
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Nick Lombardi
    Real Estate License ID: OK 152277
    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!