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    524 Fir St Perry, OK 73077
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    524 Fir St Perry, OK 73077

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    • Retail properties & Spaces
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • FedEx OnSite / Postal Service / Courier Service
    • Dollar General / Discount Store
    • Western Union / Bank / Credit Union
    • Redbox / Cinema / (Bike/Boat/Book/etc) Store

    Property Details for 524 Fir St

    Year built
    2012
    Property type
    Retail properties & Spaces
    Property subtype
    Grocery and convenience stores

    Description

    This exceptional investment opportunity presents a 9,100-square-foot Dollar General store located at 524 Fir St, Perry, OK 73077. Built in 2012, the property boasts an absolute NNN lease with an investment-grade tenant (BBB rating from S&P), offering zero landlord responsibilities. The current lease, with three 5-year renewal options, has eight years remaining, demonstrating the tenant's strong commitment. The property generates a substantial NOI of $83,321, translating to an attractive 8% cap rate on the $1,041,516 asking price. Situated approximately 25 miles Northwest of Stillwater, OK, home to Oklahoma State University, this location benefits from a strong population base and convenient access to Stillwater Regional Airport. The property's 100% occupancy and the tenant's proven resilience, even during the COVID-19 pandemic, underscore its stability and long-term income potential. Rent bumps are included in the lease options. This is a rare chance to acquire a passively managed, high-yield retail investment with a blue-chip tenant.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Perry
    County
    Noble
    State
    Oklahoma
    Longitude
    -97.2847
    Latitude
    36.2892

    Comparable in this City

    • Value Estimation by Request
      4,284 SF

      2812 Fir St

      CONVENIENCE STORE • 4,284 SF
      2812 Fir St, Perry, OK 73077-7913
      View Details
    • Value Estimation by Request
      4,176 SF

      601 Fir St

      CONVENIENCE STORE • 4,176 SF
      601 Fir St, Perry, OK 73077-3403
      View Details
    • Value Estimation by Request
      2,685 SF

      3101 Fir St

      CONVENIENCE STORE • 2,685 SF
      3101 Fir St, Perry, OK 73077-7915
      View Details
    • Value Estimation
      $1,800,000
      4,326 SF

      1312 Fir St

      CONVENIENCE STORE • 4,326 SF
      1312 Fir St, Perry, OK 73077-5059
      View Details
    • Value Estimation
      $1,000,000
      624 SF

      600 6th St

      CONVENIENCE STORE • 624 SF
      600 6th St, Perry, OK 73077-3406
      View Details
    • Value Estimation by Request
      1,710 SF

      625 6th St

      CONVENIENCE STORE • 1,710 SF
      625 6th St, Perry, OK 73077-3405
      View Details

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    Perry, OK 73077
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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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