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    Property profile & analytics

    121 N 4Th St Sayre, OK 73662

    • Office buildings
    • 3,125 SF
    • 0.09 lot acres
    For Sale
    View listing
    $175,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0877423
    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

    • Leon W Willsie Attorney At Law / Law Firm

    Property Details for 121 N 4Th St

    Construction
    FRAME
    Lot size
    0.09 lot acres
    Property size
    3,125 SF
    Zone code
    C1
    Property type
    Office buildings
    APN
    0430-00-049-022-0-000-00
    APU
    43000049022000000

    Description

    This exceptional 3,125 square foot commercial office building is situated on the iconic Route 66 in Sayre, Oklahoma. The property, encompassing 0.09 acres, presents a unique opportunity for a variety of businesses. Currently operating as a law office for 49 years, the building boasts a rich history and established presence within the community. Substantial renovations were completed in 1984, including a new roof, updated electrical wiring, and numerous other improvements. The building's layout includes six individual offices, providing ample space for staff and clients. A convenient breakroom is also included for employee comfort. A secure safe room adds an extra layer of security. The building offers both front and back entry points for easy access and convenient client flow. While photographs may not depict all areas, it's important to note that two additional offices and the safe room are not shown in the available images. This well-maintained property is priced competitively at $199,900 and represents a rare chance to acquire a piece of Sayre's history and a thriving commercial space. The property's location on Route 66 offers excellent visibility and accessibility, making it an ideal location for a variety of professional services. Don't miss this opportunity to own a piece of Route 66 history and a successful commercial enterprise.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Sayre
    County
    Beckham
    State
    Oklahoma
    Longitude
    -99.6404
    Latitude
    35.2921
    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
    $1,133
    $404
    $13,535
    $13,939
    -
    $3,750
    $121,056
    $124,806

    Comparable in this City

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      768 SF

      110 Greer Ave

      OFFICE BUILDING • 768 SF
      110 Greer Ave, Sayre, OK 73662-3346
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      3,750 SF

      115 Main St

      OFFICE BUILDING • 3,750 SF
      115 Main St, Sayre, OK 73662-3301
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      3,750 SF

      129 Main St

      OFFICE BUILDING • 3,750 SF
      129 Main St, Sayre, OK 73662-2913
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      1,372 SF

      322 Main St

      OFFICE BUILDING • 1,372 SF
      322 Main St, Sayre, OK 73662-3306
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    • Value Estimation by Request
      6,946 SF

      Sayre, OK 73662

      OFFICE BUILDING • 6,946 SF
      Sayre, OK 73662
      View Details

    Similar Nearby for Sale

    • $175,000
      3,125 SF

      Route 66 Commercial Building

      Established commercial building on Historic Route 66 in Sayre, Oklahoma.
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      View Details
    • $62,500
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      Sayre Office Building - Main Street

      Affordable Office Space, Updated Interior
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    • $199,900
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      Historic Route 66 Office Building

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    • $65,000
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      Route 66 Commercial Land

      Commercial lot on Route 66, ideal for various business ventures.
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      View Details
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    121 N 4Th St
    Sayre, OK 73662
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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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