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    508 Mill St Pryor, OK 74361

    • Retail properties
    • 11,160 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Kuk Sool Won / Martial Arts School

    Property Details for 508 Mill St

    Property size
    11,160 SF
    Property type
    Retail properties

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Pryor
    County
    Mayes
    State
    Oklahoma
    Longitude
    -95.3229
    Latitude
    36.2978

    Comparable in this City

    • Value Estimation by Request
      6,230 SF

      108 Mill St

      Neighborhood centers • 6,230 SF
      108 Mill St, Pryor, OK 74361
      View Details
    • Value Estimation
      $805,000
      181,766 SF

      4901 Ml St

      DEPARTMENT STORE • 181,766 SF
      4901 Ml St, Pryor, OK 74361-6837
      View Details
    • Value Estimation by Request
      30,000 SF

      Of Mid America Industrial Park

      Neighborhood centers • 30,000 SF
      0 Of Mid America Industrial Park, Pryor, OK 74361
      View Details
    • Value Estimation by Request
      12,325 SF

      4501 Mill St

      NNN properties • 12,325 SF
      4501 Mill St, Pryor, OK 74361
      View Details
    • Value Estimation by Request
      2,520 SF

      215 Graham St

      Retail properties • 2,520 SF
      215 Graham St, Pryor, OK 74361
      View Details
    • Value Estimation
      $275,000
      1,200 SF

      Pryor, OK 74361

      BARBER, HAIR SALON • 1,200 SF
      Pryor, OK 74361
      View Details

    Similar Nearby for Sale

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      Historic Pryor Office Building

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    • $2,515,000
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      Retail Strip Near Walmart

      Four-tenant retail strip shadow-anchored by Walmart in Pryor, Oklahoma.
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      Pryor, OK Multifamily Investment

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      New 2024 Doublewide Home

      Recently built doublewide featuring modern upgrades and ample storage.
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    • $63,500
      2.75 Acres

      Pryor, OK Acreage Available

      2.75 acres ready for mobiles with utilities in Pryor.
      1825 N 4257, Pryor, OK 74361
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    Similar Nearby for Lease

    • Contact for pricing
      12,325 SF

      Pryor Retail Spaces Available

      New Retail Units, Prime Location
      4501 Mill St, Pryor, OK 74361
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    • Contact for pricing
      30,000 SF

      Pryor Retail Center Opportunity

      Prime retail space, flexible layouts, high-growth area.
      0 Of Mid America Industrial Park, Pryor, OK 74361
      View Details
    • $4 SF/Yr
      9,025 SF

      Pryor Warehouse with Showroom/Office

      9,025 SF warehouse with showroom/office on 3.3 acres.
      409-427 N Maple St, Pryor, OK 74361
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    • Contact for pricing
      6,230 SF

      Pryor, OK Retail Space Available

      High-visibility retail space; 1,100-4,030 sq ft.
      108 Mill St, Pryor, OK 74361
      View Details
    • Contact for pricing

      Retail Space in Growing District

      New retail development near Mid-America Industrial Park in Pryor, OK.
      3822 W 530, Pryor, OK 74361
      View Details
    • Contact for pricing
      13,600 SF

      Industrial Space in Pryor, Oklahoma

      13,600 SF industrial property available for lease.
      4752 Hunt St, Pryor, OK 74361
      View Details
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    508 Mill St
    Pryor, OK 74361
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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
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