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    116 Grn Ave Purcell, OK 73080-4012

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    116 Grn Ave Purcell, OK 73080-4012

    View on Map
    • Drug stores
    • 14,718 SF
    Off-Market
    Last Sale Mar 26, 2025
    $3,375,000
    Property ID
    US69-0656936
    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
    $3,245,000
    Show details
    Cap Rate Potential
    4.7%
    Drug stores
    Location Intelligence

    Current Use by Public Records

    • Walgreens Pharmacy / Pharmacy
    • LibertyX Bitcoin ATM / Atm
    • FedEx OnSite / Postal Service / Courier Service
    • Walgreens / Pharmacy
    • Jonathan W. Pearson, PharmD / Pharmacy

    Property Details for 116 Grn Ave

    Year built
    2010
    Property size
    14,718 SF
    Property type
    Drug stores
    APN
    PURC-00-109-001-0-000-00
    APU
    PURC00109001000000

    Description

    This exceptional investment opportunity presents a 14,820 square foot Walgreens located at 116 N Green Ave, Purcell, OK 73080. The property sits on a 1.62-acre lot and boasts a strong 10.00% cap rate, generating a net operating income (NOI) of $343,000. The absolute NNN lease with Walgreens, the only drugstore within a 13-mile radius, extends until April 30, 2035, offering a remaining lease term of 10.4 years. Built in 2010, this strategically located retail property benefits from its position on a main thoroughfare, near a new municipal hospital, and within a growing community. Purcell's population within a 5-mile radius has expanded by over 10% since 2020, with projections of over 3% annual growth through 2029. The property's prime location, coupled with the long-term lease and high cap rate, makes it an attractive investment for discerning buyers seeking stable, passive income. The asking price for this exceptional opportunity is $3,430,000. This investment is further enhanced by its proximity to Interstate-35, a major transportation artery connecting Oklahoma City to Fort Worth/Dallas, and the presence of a significant local employer, the Chickasaw Nation Purcell Health Clinic. The property's visibility and location within a thriving community contribute to its strong financial performance and long-term growth potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,145,000
      ML approach
      $3,095,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,445,000
      6.5%
      $2,260,000
      7%
      $2,095,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,957,000
      Market price range: $731k - $1.96M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,835,000
      OFFICE BUILDING
      $2,315,000
      AUTO REPAIR, GARAGE
      $2,100,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Purcell
    County
    Mcclain
    State
    Oklahoma
    Longitude
    -97.3656
    Latitude
    35.0131
    CBSA code
    36420
    CBSA name
    OKLAHOMA CITY, OK METROPOLITAN 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
    $30,814
    $78,684
    $203,886
    $282,570
    -
    $715,313
    $2,383,458
    $3,098,771

    Comparable in this City

    • Value Estimation by Request
      3,243 SF

      136 Main St

      DRUG STORE, PHARMACY • 3,243 SF
      136 Main St, Purcell, OK 73080-4220
      View Details
    • Value Estimation by Request
      1,122 SF

      1736 Grn Ave

      DRUG STORE, PHARMACY • 1,122 SF
      1736 Grn Ave, Purcell, OK 73080-6213
      View Details
    • Value Estimation by Request
      3,000 SF

      1300 Grn Ave

      DRUG STORE, PHARMACY • 3,000 SF
      1300 Grn Ave, Purcell, OK 73080-1807
      View Details
    • Value Estimation by Request
      3,300 SF

      920 Grn Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,300 SF
      920 Grn Ave, Purcell, OK 73080-6234
      View Details
    • Value Estimation by Request
      7,932 SF

      Canadain Ave

      RETAIL STORES (PERSONAL SERVICES) • 7,932 SF
      Canadain Ave, Purcell, OK 73080
      View Details
    • Value Estimation by Request
      15,087 SF

      1801 Grn Ave

      GYM, HEALTH SPA • 15,087 SF
      1801 Grn Ave, Purcell, OK 73080-6215
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Highway Land with Gas Station

      10 acres available with former gas station and development potential.
      19978 State Hwy 39 Hwy, Purcell, OK 73080
      View Details
    • Contact for pricing
      Pending

      Historic Stone Building on Corner

      Historic stone building on a desirable corner lot.
      330 S Green Ave, Purcell, OK 73080
      View Details
    • $765,000
      8.00 Acres

      Purcell, OK Land For Sale

      8 acres of commercial land with development potential in Purcell.
      19946 State Highway 39, Purcell, OK 73080
      View Details
    • Contact for pricing

      Land Available For Development

      Three lots available for development, totaling 0.63 acres.
      3 Lots, Purcell, OK 73080
      View Details
    • Contact for pricing

      Cleared Land Near I-35

      Cleared land suitable for commercial development near I-35.
      1500 N Green Ave, Purcell, OK 73080
      View Details
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    116 Grn Ave
    Purcell, OK 73080-4012
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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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