Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1005 Lake Murray Dr S Ardmore, OK 73401
    Back to Search
    Property profile & analytics

    1005 Lake Murray Dr S Ardmore, OK 73401

    View on Map
    • Office buildings
    • 6,200 SF
    • 0.36 lot acres
    For Sale
    $65,000
    View Listing →
    Retail Store Near Lake Murray For Sale
    $65,000
    6,200 SF

    Retail Store Near Lake Murray

    Classic retail store near Lake Murray in Ardmore, Oklahoma.

    1005 Lake Murray Dr S, Ardmore, OK 73401
    View Listing
    Property ID
    US69-1759208
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 1005 Lake Murray Dr S

    Year built
    1952
    Lot size
    0.36 lot acres
    Property size
    6,200 SF
    Property type
    Office buildings
    APN
    1990-05-05S-02E-2-031-00
    APU
    19900505S02E203100

    Description

    This exceptional 6,200 square foot retail and mixed-use building presents a remarkable opportunity in Ardmore, Oklahoma. Located at 1005 Lake Murray Dr S, this property boasts a sizable 15,682 square foot lot and is situated just one mile from the popular Lake Murray State Park, offering significant potential for various commercial ventures. Built in 1952, the building is currently vacant, providing a blank canvas for a complete renovation. The first floor has been fully demoed back to the studs, simplifying the remodeling process to suit any business plan. The entire second floor also offers ample, unfinished space for expansion or creative design. The asking price is $65,000, translating to a price per square foot of $10. The property's APN is 1990-05-05S-02E-2-031-00. Its previous use was a quick stop/gas station, suggesting a history of commercial activity. This property's prime location and substantial size make it an ideal investment for entrepreneurs seeking a high-impact commercial space in a desirable area. The property is ready for immediate development and offers a unique chance to create a thriving business in a vibrant community. The vacant status allows for complete customization, ensuring the space perfectly aligns with your vision. This is a rare opportunity to acquire a large, well-located building at an attractive price point.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $446,000
      Market price range: $446k - $1.38M
      AI Estimate
      $574,000
      Market price range: $575k - $1.54M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Ardmore
    County
    Carter
    State
    Oklahoma
    Longitude
    -97.1211
    Latitude
    34.1559
    CBSA code
    11620
    CBSA name
    ARDMORE, OK MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $719
    $910
    $6,366
    $7,276
    -
    $7,841
    $54,845
    $62,686

    Comparable in this City

    • Value Estimation by Request
      2,210 SF

      130 C NW St

      OFFICE BUILDING • 2,210 SF
      130 C NW St, Ardmore, OK 73401-6240
      View Details
    • Value Estimation by Request
      640 SF

      2018 Commerce St

      OFFICE BUILDING • 640 SF
      2018 Commerce St, Ardmore, OK 73401
      View Details
    • Value Estimation by Request
      576 SF

      221 Sam Noble Pkwy

      OFFICE BUILDING • 576 SF
      221 Sam Noble Pkwy, Ardmore, OK 73401-6631
      View Details
    • Value Estimation by Request
      1,292 SF

      1175 Serenity Loop

      OFFICE BUILDING • 1,292 SF
      1175 Serenity Loop, Ardmore, OK 73401-2285
      View Details
    • Value Estimation by Request
      5,026 SF

      222 Stanley SW St

      OFFICE BUILDING • 5,026 SF
      222 Stanley SW St, Ardmore, OK 73401-6306
      View Details
    • Value Estimation by Request
      1,632 SF

      Ledger Ln

      OFFICE BUILDING • 1,632 SF
      Ledger Ln, Ardmore, OK 73401
      View Details

    Similar Nearby for Sale

    • $5,445,400
      17,502 SF

      Multi-Tenant Office Building For Sale

      Multi-tenant office building with 6.00% CAP rate, 17,502 SqFt.
      1817 Rockford Rd, Ardmore, OK 73401
      View Details
    • Contact for pricing
      5,473 SF

      Professional Office Building For Sale

      Large professional office building with versatile layout and ample parking.
      817 Elks Blvd, Ardmore, OK 73401
      View Details
    • $875,000
      18,034 SF

      Historic Ardmore Building with Parking

      18,000 sq ft historic building with 75-space parking lot.
      27 W Broadway St, Ardmore, OK 73401
      View Details
    • $1,000,000
      10,543 SF

      Commercial Building in NW Ardmore

      Commercial building with kitchen, dining area, offices, and storage.
      1032 Cherry St, Ardmore, OK 73401
      View Details
    • $350,000
      5,088 SF

      Lone Grove Warehouse/Shop Opportunity

      Versatile commercial property with high visibility and access.
      9033 Prairie Valley Rd, Ardmore, OK 73401
      View Details
    • $225,000
      10,742 SF

      Historic Ardmore Mixed-Use Opportunity

      Two buildings with retail, office, studio, or mixed-use potential.
      301 E Main St, Ardmore, OK 73401
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      443,650 SF

      Ardmore Warehouse Space Available

      443,650 SF warehouse space in Ardmore, Oklahoma.
      3500 Flanders Dr, Ardmore, OK 73401
      View Details
    • Contact for pricing

      Commerce Plaza Retail Opportunity

      Redevelopment opportunity with remaining retail space and potential pad sites.
      320 North Commerce St, Ardmore, OK 73401
      View Details
    • $26 SF/Yr
      4,708 SF

      Retail Space in Ardmore, OK

      Retail space available in Ardmore, Oklahoma, near Interstate 35.
      807 N Commerce St, Ardmore, OK 73401
      View Details
    • Contact for pricing

      Retail Space in Ardmore Corridor

      Strip center and pads for lease in retail corridor.
      12th 12Th Ave NW, Ardmore, OK 73401
      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.
    1005 Lake Murray Dr S
    Ardmore, OK 73401
    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

    Thank You for Inquiry
    1005 Lake Murray Dr S, Ardmore, OK, 73401
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!