Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    230 Washington St Enid, OK 73701

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    230 Washington St Enid, OK 73701

    View on Map
    • Commercial real estate
    For Sale
    $563,900
    View Listing →
    Enid Commercial Portfolio: Prime Location For Sale
    $563,900

    Enid Commercial Portfolio: Prime Location

    Historic Enid building, 5+ tenants, high ROI.

    230 Washington St, Enid, OK 73701
    View Listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 230 Washington St

    Year built
    1910
    Property type
    Commercial real estate

    Description

    This exceptional commercial investment opportunity encompasses a portfolio of properties in the heart of Enid, Oklahoma, steeped in local history. The offering includes the iconic Larry Black's building, a beautifully updated structure currently housing five separate tenants, all under lease. The addresses included in this sale are 230 and 232 West Randolph Street, and 207, 209, and 211 North Washington Street. All these properties are currently generating income from existing leases. Adding to the investment potential, an adjacent property at 228 West Randolph Street, currently occupied by a bridal shop and prom shop, is also available for purchase, presenting an opportunity for expansion or additional rental income. The asking price of $563,900 is based on a 2017 appraisal, reflecting the strong underlying value of this established commercial portfolio. This presents a rare chance to acquire a significant piece of Enid's commercial landscape, offering immediate cash flow and substantial long-term growth potential. The property's prime location ensures high visibility and accessibility, making it an attractive proposition for both current tenants and future occupants. This is a turnkey investment ready to generate income from day one. The details of the individual leases are available upon request. Don't miss this chance to own a piece of Enid's history and secure a profitable future.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Enid
    County
    Garfield
    State
    Oklahoma
    Longitude
    -97.8814
    Latitude
    36.3979

    Comparable in this City

    • Value Estimation by Request
      0.16 Acres

      Jackson St

      COMMERCIAL (GENERAL) • 0.16 Acres
      Jackson St, Enid, OK 73701
      View Details
    • Value Estimation by Request
      0.34 Acres

      400 Maine Ave

      COMMERCIAL (GENERAL) • 0.34 Acres
      400 Maine Ave, Enid, OK 73701-5510
      View Details
    • Value Estimation by Request
      0.17 Acres

      418 Maine Ave

      COMMERCIAL (GENERAL) • 0.17 Acres
      418 Maine Ave, Enid, OK 73701
      View Details
    • Value Estimation by Request
      0.46 Acres

      105 Maple Ave

      COMMERCIAL (GENERAL) • 0.46 Acres
      105 Maple Ave, Enid, OK 73701
      View Details
    • Value Estimation by Request
      0.20 Acres

      609 Oak Ave

      COMMERCIAL (GENERAL) • 0.20 Acres
      609 Oak Ave, Enid, OK 73701-3075
      View Details
    • Value Estimation by Request
      0.00 Acres

      615 Oklahoma Ave

      COMMERCIAL (GENERAL) • 0.00 Acres
      615 Oklahoma Ave, Enid, OK 73701-5951
      View Details

    Similar Nearby for Sale

    • $140,000

      Enid Commercial Building - Great Investment

      Prime Enid location, 140k, ideal for business.
      1101 Broadway Ave, Enid, OK 73701
      View Details
    • $563,900

      Enid Commercial Portfolio: Prime Location

      Historic Enid building, 5+ tenants, high ROI.
      230 Washington St, Enid, OK 73701
      View Details
    • $200,000
      1.00 Acre

      Enid Industrial Property - $200K

      Spacious Industrial Building, 1 Acre Lot
      331 Walnut Ave, Enid, OK 73701
      View Details
    • Contact for pricing

      Enid, OK Urban Residential Lot

      Unimproved lot zoned for urban residential use in Enid.
      N Davis & E Birch, Enid, OK 73701
      View Details
    • $189,900
      87,556 SF

      Traffic Controlled Highway Intersection

      2 Acre Industrial Tract
      3129 Van Buren Hwy 81, Enid, OK 73701
      View Details
    • $63,000

      Residential Lot in Enid, OK

      Residential lot suitable for duplex construction in Enid, Oklahoma.
      1725 West Crk Dr, Enid, OK 73701
      View Details

    Similar Nearby for Lease

    • $6 SF/Yr
      3,750 SF

      215 E Randolph Ave, Enid, OK

      3,750 sq ft retail space in downtown Enid, Oklahoma.
      215 E Randolph Ave, Enid, OK 73701
      View Details
    • Contact for pricing
      750 SF

      Enid Office Space For Rent

      Office space available for lease in Enid, Oklahoma.
      670 W Willow Rd, Enid, OK 73701
      View Details
    • Contact for pricing

      Historic Building with Retail Spaces

      1927 building with residential and commercial spaces for rent.
      116 E Randolph Ave, Enid, OK 73701
      View Details
    • Contact for pricing
      7,125 SF

      Downtown Restaurant Space Available

      Historic downtown Enid restaurant space for lease.
      221 W Randolph Ave, Enid, OK 73701
      View Details
    View Listing
    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.
    230 Washington St
    Enid, OK 73701
    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!