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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1206 3rd St Elk City, OK 73644-5106

    • Drive through restaurants
    • 2,000 SF
    • 0.21 lot acres
    OFF-MARKET
    Value Estimations
    $260,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0804184
    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

    • Subway / Sandwich Shop / Caterer

    Property Details for 1206 3rd St

    Year built
    1970
    Lot size
    0.21 lot acres
    Property size
    2,000 SF
    Zone code
    C1
    Property type
    Drive through restaurants
    APN
    0115-00-015-001-0-002-00
    APU
    11500015001000200

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $260,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $180,000
      Current use
      OFFICE BUILDING
      $290,000
      Change: +59% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $255,000
      Change: +41% Conversion: Easy
      MEDICAL BUILDING
      $205,000
      Change: +13% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Elk City
    County
    Beckham
    State
    Oklahoma
    Longitude
    -99.4187
    Latitude
    35.4115
    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
    $803
    $1,620
    $7,046
    $8,666
    -
    $13,500
    $65,783
    $79,283

    Comparable in this City

    • Value Estimation
      $210,000
      1,260 SF

      207 Randall Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,260 SF
      207 Randall Ave, Elk City, OK 73644-4626
      View Details
    • Value Estimation
      $550,000
      2,517 SF

      2021 Main St

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,517 SF
      2021 Main St, Elk City, OK 73644-9113
      View Details
    • Value Estimation
      $1,750,000
      3,247 SF

      2105 Main St

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,247 SF
      2105 Main St, Elk City, OK 73644-9115
      View Details
    • Value Estimation
      $2,545,000
      3,035 SF

      Elk City, OK 73644

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,035 SF
      Elk City, OK 73644
      View Details
    • Value Estimation
      $245,000
      3,195 SF

      1802 3rd St

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,195 SF
      1802 3rd St, Elk City, OK 73644-5146
      View Details
    • Value Estimation
      $1,670,000
      3,056 SF

      1415 3rd St

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,056 SF
      1415 3rd St, Elk City, OK 73644-5109
      View Details

    Similar Nearby for Sale

    • $309,900
      3,724 SF

      Route 66 Commercial Property

      Commercial property on historic Route 66 with versatile business potential.
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      Elk City Retail Opportunity

      Commercial property on Route 66 with updated systems and fenced yard.
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      Gravel Lot Near Truck Stop

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      Versatile Commercial Building on Route 66

      High-visibility commercial building suitable for office or retail use.
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      Prime Retail Location on Route 66

      Retail store opportunity on Elk City's busiest street.
      2821 W 3Rd St, Elk City, OK 73644
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      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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    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
      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
    • $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
    • $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
    • Contact for pricing

      Industrial Property with Rail Access

      Commercial zoned land with rail access and unloading pits.
      20245 E 1120 Rd, Elk City, OK 73644
      View Details

    Property Visit Statistics

    • Visits by month
      4.8k
    • Visitors by month
      3.6k
    • Avg Time on site
      15 min
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    Elk City, OK 73644-5106
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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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