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    941 State Road 78 Hendrix, OK 74741

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    941 State Road 78 Hendrix, OK 74741

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    • Commercial real estate
    • 3,749 SF
    • 3.70 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 941 State Road 78

    Year built
    1985
    Lot size
    3.70 lot acres
    Property size
    3,749 SF
    Property type
    Commercial real estate

    Description

    This exceptional 3,749 square foot commercial property, situated on approximately 3.7 acres in Hendrix, Oklahoma, presents a remarkable investment opportunity. Previously a nightclub, the building offers substantial potential for redevelopment and repurposing. Its strategic location just north of the Red River, approximately 10 miles north of Bonham, Texas, and 25 miles south of Durant, Oklahoma, ensures high visibility and accessibility to a diverse customer base, catering to both locals and travelers. While the building requires renovation, its solid structure provides a strong foundation for a variety of commercial ventures. The expansive acreage offers significant flexibility, allowing for potential expansion of the existing building or development into a recreational property, given its proximity to the Red River. The property's location provides easy access to major transportation routes. The total acreage, as per the tax assessor's records, includes all right-of-way easements with the Oklahoma Department of Transportation (ODOT). This presents a unique chance to acquire a substantial property with significant upside potential in a desirable location. The property is priced at $195,000 and is ready for an investor with vision to transform it into a thriving business. Don't miss this chance to capitalize on the many opportunities this property offers.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Hendrix
    County
    Bryan
    State
    Oklahoma
    Longitude
    -96.206
    Latitude
    33.7643

    Comparable in this City

    • Value Estimation by Request
      62.00 Acres

      Tbd Sheco Rd

      Land • 62.00 Acres
      0 Tbd Sheco Rd, Hendrix, OK 74741
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    • Value Estimation
      $2,035,000
      8,556 SF

      6992 Hwy 78

      OFFICE BUILDING • 8,556 SF
      6992 Hwy 78, Hendrix, OK 74741
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    • Value Estimation by Request
      73.20 Acres

      Hendrix, OK 74741

      VACANT COMMERCIAL LAND • 73.20 Acres
      Hendrix, OK 74741
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    • Value Estimation by Request
      960 SF

      Hendrix, OK 74741

      CONVENIENCE STORE • 960 SF
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    • Value Estimation by Request
      2,655 SF

      41 Kemp Rd

      RESTAURANT • 2,655 SF
      41 Kemp Rd, Hendrix, OK 74741-1227
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    • Value Estimation by Request
      4,559 SF

      725 Carpenters Blf Rd

      GROCERY, SUPERMARKET • 4,559 SF
      725 Carpenters Blf Rd, Hendrix, OK 74741-1210
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    Similar Nearby for Sale

    • $175,000

      Former Night Club on Acreage

      Building with acreage, potential for business or recreational development.
      941 State Road 78, Hendrix, OK 74741
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    • $60,000
      2.30 Acres

      Wooded Land in Hendrix, OK

      Almost 2.5-acre wooded corner property with creek and paved access.
      Bloomfield Rd, Hendrix, OK 74741
      View Details
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    941 State Road 78
    Hendrix, OK 74741
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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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