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    Commercial Lp Elgin, OK 73538

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    Commercial Lp Elgin, OK 73538

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    • Land
    • 218.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Commercial Lp

    Lot size
    218.00 lot acres
    Property type
    Land

    Description

    This exceptional 218-acre commercial land parcel presents a unique owner-user opportunity in Elgin, Oklahoma's fastest-growing and safest city. Strategically located near I-44, just 15 minutes from Lawton/Ft. Sill and 70 miles south of Oklahoma City, this industrially zoned property boasts unparalleled visibility and accessibility. The site is part of an established industrial park, home to Bae Systems, Norman Plywood, and Dri Rite, ensuring a thriving business environment. All utilities are available, with existing streets and excellent visibility from the turnpike. The land is offered in minimum one-acre tracts, priced at $150,000 per acre, with pricing adjusted based on the amount of land purchased and its economic impact. Potential rail access adds further value to this prime location between two major Oklahoma cities. This is an exceptional investment opportunity for businesses seeking a strategic location with strong infrastructure and a supportive economic development authority. The Elgin Economic Development Authority is facilitating the sale, and while land is primarily for sale, lease options may be available. Recent sales in the park demonstrate strong market demand. This is a rare chance to acquire a significant land holding in a rapidly expanding area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Elgin
    County
    Comanche
    State
    Oklahoma
    Longitude
    -98.3067
    Latitude
    34.7771

    Comparable in this City

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      4.50 Acres

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      1.43 Acres

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      1.49 Acres

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      Land • 1.49 Acres
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      1.00 Acre

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      Land • 1.00 Acre
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      1.17 Acres

      11962 Us-62

      Land • 1.17 Acres
      11962 Us-62, Elgin, OK 73538
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      Commerce Dr

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      0 Commerce Dr, Elgin, OK 73538
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      Land Available For Sale

      Land available for sale in Elgin, Oklahoma.
      8352 Us Highway 277, Elgin, OK 73538
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      Land For Sale or Lease

      Land available for sale or lease in Elgin, Oklahoma.
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      Land For Sale Elgin, OK

      4.5 acres of land near I-44 in Elgin, Oklahoma.
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    • $38,000
      0.80 Acres

      Residential Lot in Elgin, OK

      0.8 acre residential lot with mountain views near Lawton.
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      Land for Sale in Elgin

      4.5 acres of land near I-44 and US 277.
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      Elgin Industrial Park Land Available

      Industrial park land for sale in fast-growing Elgin, Oklahoma.
      Commercial Lp, Elgin, OK 73538
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    Similar Nearby for Lease

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      Elgin Land for Ground Lease

      Approximately 1.06 acres available for ground lease in Elgin, OK.
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      3,600 SF

      3,600 SF Steel Structure

      3,600 SF steel structure for lease on 2 acres.
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    • $16 SF/Yr
      24,999 SF

      Elgin Square Retail Space Available

      New retail space in prime Lawton location.
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    • Contact for pricing
      1,250 SF

      New Retail Space Available

      Brand new retail space with tenant improvement available for lease.
      7374 Us Highway 277, Elgin, OK 73538
      View Details
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    Commercial Lp
    Elgin, OK 73538
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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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