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    1012 W 3Rd St Elk City, OK 73644
    Property profile & analytics

    1012 W 3Rd St Elk City, OK 73644

    View on Map
    • Retail space
    • 2,574 SF
    • 0.18 lot acres
    For Sale
    $309,900
    View Listing →
    Route 66 Commercial Property For Sale
    $309,900
    3,724 SF

    Route 66 Commercial Property

    Commercial property on historic Route 66 in Elk City, Oklahoma.

    1012 W 3rd Street, Elk City, OK 73644
    View Listing
    Property ID
    US69-0871293
    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

    • Broadway Flowers / (Bike/Boat/Book/etc) Store / Florist

    Property Details for 1012 W 3Rd St

    Year built
    1970
    Lot size
    0.18 lot acres
    Property size
    2,574 SF
    Zone code
    R1
    Property type
    Retail space
    APN
    0170-00-034-008-0-002-00
    APU
    17000034008000200

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Elk City
    County
    Beckham
    State
    Oklahoma
    Longitude
    -99.4165
    Latitude
    35.4114
    CBSA code
    21120
    CBSA name
    ELK CITY, 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
    $2,958
    $9,660
    $22,226
    $31,886
    -
    $80,500
    $185,217
    $265,717

    Comparable in this City

    • Value Estimation by Request
      2,750 SF

      Elk City, OK 73644

      RETAIL STORES (PERSONAL SERVICES) • 2,750 SF
      Elk City, OK 73644
      View Details
    • Value Estimation
      $620,000
      7,000 SF

      Elk City, OK 73644

      RETAIL STORES (PERSONAL SERVICES) • 7,000 SF
      Elk City, OK 73644
      View Details
    • Value Estimation by Request
      2,700 SF

      102 Access Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,700 SF
      102 Access Rd, Elk City, OK 73644-2929
      View Details
    • Value Estimation by Request
      2,230 SF

      209 Broadway Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,230 SF
      209 Broadway Ave, Elk City, OK 73644-4741
      View Details
    • Value Estimation by Request
      6,880 SF

      113 Main St

      RETAIL STORES (PERSONAL SERVICES) • 6,880 SF
      113 Main St, Elk City, OK 73644-5743
      View Details
    • Value Estimation by Request
      4,050 SF

      1507 Main St

      RETAIL STORES (PERSONAL SERVICES) • 4,050 SF
      1507 Main St, Elk City, OK 73644-6914
      View Details

    Similar Nearby for Sale

    • $168,000
      Pending

      Route 66 Commercial Property

      4,900 SF commercial property on Historical Route 66.
      1923 W 3Rd St, Elk City, OK 73644
      View Details
    • $1,300,000
      2.53 Acres

      Versatile Commercial Property on Main

      Commercial property with retail, warehouse, and land on 2.53 acres.
      1206 S Main St, Elk City, OK 73644
      View Details
    • $148,000
      2,020 SF

      Elk City Commercial Corner Lot

      Remodeled commercial property with office, retail, and warehouse potential.
      323 S Randall Cor, Elk City, OK 73644
      View Details
    • $148,000
      2,020 SF

      Remodeled Commercial Property on Corner Lot

      Remodeled commercial property suitable for office, retail, or warehouse use.
      323 S Randall Ave, Elk City, OK 73644
      View Details
    • $300,000
      2,400 SF

      Commercial Building with Drive Thru

      Commercial building in high-traffic area with drive-thru window.
      1926 W 3Rd St, Elk City, OK 73644
      View Details
    • $239,000
      2,111 SF

      High Visibility Commercial Building

      Multi-purpose building on a high-traffic street, suitable for retail/office.
      900 W 3Rd St, Elk City, OK 73644
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,694 SF

      Restaurant Building with Drive Thru

      Free-standing restaurant building with drive-thru available for lease.
      2710 W 3Rd St, Elk City, OK 73644
      View Details
    • Contact for pricing

      Commercial Land For Rent

      Commercial land for rent, I-40 frontage, will divide.
      300 Regional Dr, Elk City, OK 73644
      View Details
    • $2,750 /Mo
      5,000 SF

      Elk City Office Space Available

      Stand-alone office space with multiple offices, reception, and kitchen.
      108 W 12Th St, Elk City, OK 73644
      View Details
    • Contact for pricing

      Land Available For Lease

      Land for lease located at 1100 Hwy 34, Elk City.
      1100 Highway 34, Elk City, OK 73644
      View Details
    • $5 SF/Yr

      Commercial Land I-40 Frontage

      6.7 acres of commercial land with I-40 frontage.
      E2100 East 3Rd St, Elk City, OK 73644
      View Details
    • $5 SF/Yr
      6 SF

      6.7 Acres Commercial Land Available

      Commercial land for rent with I-40 frontage, 6.7 acres.
      E2100 East 3Rd St, Elk City, OK 73644
      View Details
    View Listing
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    Elk City, OK 73644
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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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    1012 W 3Rd St, Elk City, OK, 73644
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