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    Property profile & analytics

    1032 3rd St Elk City, OK 73644-5214

    • Grocery and convenience stores
    • 3,164 SF
    • 0.48 lot acres
    OFF-MARKET
    Last Sale
    Jan 07, 2025
    $715,000
    Value Estimations
    $665,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0806588
    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.

    Current Use by Public Records

    • The Dugout C Store / Convenience Store

    Property Details for 1032 3rd St

    Year built
    2005
    Construction
    FRAME
    Lot size
    0.48 lot acres
    Property size
    3,164 SF
    Zone code
    C1
    Property type
    Grocery and convenience stores
    APN
    0170-00-034-004-0-003-00
    APU
    17000034004000300

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $665,000
      ML approach
      $655,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Elk City
    County
    Beckham
    State
    Oklahoma
    Longitude
    -99.4169
    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
    $2,148
    $6,240
    $16,916
    $23,156
    -
    $52,000
    $140,966
    $192,966

    Comparable in this City

    • Value Estimation
      $80,000
      2,584 SF

      2609 Hwy 66

      CONVENIENCE STORE • 2,584 SF
      2609 Hwy 66, Elk City, OK 73644-9637
      View Details
    • Value Estimation
      $190,000
      2,224 SF

      2000 7th St

      CONVENIENCE STORE • 2,224 SF
      2000 7th St, Elk City, OK 73644-5312
      View Details
    • Value Estimation
      $285,000
      3,000 SF

      1001 3rd St

      CONVENIENCE STORE • 3,000 SF
      1001 3rd St, Elk City, OK 73644-5213
      View Details
    • Value Estimation
      $270,000
      2,800 SF

      Elk City, OK 73644

      GROCERY, SUPERMARKET • 2,800 SF
      Elk City, OK 73644
      View Details
    • Value Estimation
      $255,000
      2,288 SF

      3201 Main St

      CONVENIENCE STORE • 2,288 SF
      3201 Main St, Elk City, OK 73644
      View Details
    • Value Estimation
      $295,000
      2,100 SF

      11345 1970th Rd

      CONVENIENCE STORE • 2,100 SF
      11345 1970th Rd, Elk City, OK 73644-6434
      View Details

    Similar Nearby for Sale

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      2,400 SF

      Commercial Building on Highway 66

      Commercial building on busy Highway 66 in Elk City, Oklahoma.
      1926 W 3Rd St, Elk City, OK 73644
      View Details
    • $200,000
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      Route 66 Commercial Opportunity

      Commercial property on Route 66, suitable for various business ventures.
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      Versatile Commercial Building on Route 66

      High-visibility commercial building suitable for office or retail use.
      900 W 3Rd St, Elk City, OK 73644
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    • $1,400,000
      9,528 SF

      Versatile Commercial Property on South Main

      Commercial property with retail, warehouse, and expansion potential in Elk City.
      1206 S Main St, Elk City, OK 73644
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    • $309,900
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      Route 66 Commercial Property

      Commercial property on historic Route 66 with versatile business potential.
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    • $850,000
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      Route 66 Business Opportunity

      Turn-key business on historic Route 66 in Elk City, Oklahoma.
      1402 W 3Rd St, Elk City, OK 73644
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    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
    • $5 SF/Yr
      609,840 SF

      Highway 34 Commercial Land

      Prime Pad Sites: Lease or Buy
      1100 Highway 34, Elk City, OK 73644
      View Details
    • $5 SF/Yr
      291,852 SF

      Elk City Commercial Land - I-40 Frontage

      6.7 Acres, C-3 Zoning, Divisible Pad Sites
      E2100 3Rd St, Elk City, OK 73644
      View Details
    • $2,750 /Mo
      5,000 SF

      Elk City Standalone Office Space

      Standalone office building with multiple offices, reception, and kitchen.
      108 W 12Th St, Elk City, OK 73644
      View Details
    • $2,000 /Mo
      2,779 SF

      Elk City Office Space For Lease

      Commercial office space for lease in Elk City, Oklahoma.
      101 S Randall Ave, Elk City, OK 73644
      View Details
    • $5 SF/Yr
      1,306,800 SF

      Elk City Commercial Land for Sale

      Walmart shadow pads, I-40 frontage.
      300 Regional Dr, Elk City, OK 73644
      View Details

    Property Visit Statistics

    • Visits by month
      2.9k
    • Visitors by month
      2.0k
    • Avg Time on site
      16 min
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    Elk City, OK 73644-5214
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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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