Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    12114 Us Hwy 62 Elgin, OK 73538-2105

    • Medical offices
    • 3,195 SF
    • 2.91 lot acres
    OFF-MARKET
    Value Estimations
    $315,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0645013
    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

    • Medical offices

    Property Details for 12114 Us Hwy 62

    Year built
    1960
    Lot size
    2.91 lot acres
    Property size
    3,195 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    36301
    APU
    36301

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $315,000

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $265,000
      Current use
      COMMERCIAL (GENERAL)
      $500,000
      Change: +89% Conversion: Easy
      AUTO REPAIR, GARAGE
      $395,000
      Change: +50% Conversion: Difficult
      OFFICE BUILDING
      $395,000
      Change: +50% Conversion: Easy
      RETAIL STORES
      $345,000
      Change: +30% Conversion: Difficult
      WAREHOUSE, STORAGE
      $225,000
      Change: -16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Elgin
    County
    Comanche
    State
    Oklahoma
    Longitude
    -98.3268
    Latitude
    34.7822
    CBSA code
    30020
    CBSA name
    LAWTON, 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
    $2,378
    $3,459
    $19,305
    $22,764
    -
    $30,744
    $223,285
    $254,029

    Comparable in this City

    • Value Estimation
      $325,000
      2,400 SF

      8355 Us Hwy 277

      MEDICAL BUILDING • 2,400 SF
      8355 Us Hwy 277, Elgin, OK 73538-2207
      View Details
    • Value Estimation by Request
      1,250 SF

      12887 Commerce St

      Medical space • 1,250 SF
      12887 Commerce St, Elgin, OK 73538
      View Details
    • Value Estimation
      $385,000
      2,600 SF

      8508 State Hwy 17

      OFFICE BUILDING • 2,600 SF
      8508 State Hwy 17, Elgin, OK 73538-4518
      View Details
    • Value Estimation
      $95,000
      1,560 SF

      8113 State Hwy 17

      OFFICE BUILDING • 1,560 SF
      8113 State Hwy 17, Elgin, OK 73538
      View Details
    • Value Estimation
      $280,000
      3,900 SF

      411 Us Hwy 277

      OFFICE BUILDING • 3,900 SF
      411 Us Hwy 277, Elgin, OK 73538
      View Details
    • Value Estimation
      $430,000
      748 SF

      8148 State Hwy 17

      OFFICE BUILDING • 748 SF
      8148 State Hwy 17, Elgin, OK 73538-9010
      View Details

    Similar Nearby for Sale

    • $4,310,000
      20,109 SF

      Elgin Square Shopping Center

      Oklahoma Retail Investment Opportunity
      13002-13070 Commerce Dr, Elgin, OK 73538
      View Details
    • $35,000
      0.80 Acres

      Elgin, OK Rural Acreage

      0.8 acre lot in rural location near Lawton-Fort Sill.
      5 Tbd Meers Porter Hl Rd, Elgin, OK 73538
      View Details
    • $35,000
      0.80 Acres

      Residential Lot in Elgin, OK

      Large lot with mountain views, perfect for building a home.
      2 Tbd Meers Porter Hl Rd, Elgin, OK 73538
      View Details
    • $225,000
      4.50 Acres

      Elgin Commercial Land - Hwy 277

      4.5 Acres, Prime Commercial Location
      0 Us Highway 277, Elgin, OK 73538
      View Details
    • $225,000
      4.50 Acres

      Elgin, OK: 4.5 Acres Hwy 277

      Prime agricultural land, I-44 access. Water meter included.
      277 Elgin, Elgin, OK 73538
      View Details
    • Contact for pricing
      218.00 Acres

      Elgin Industrial Land - 218 Acres

      Prime Oklahoma Commercial Land
      0 Commercial Lp, Elgin, OK 73538
      View Details

    Similar Nearby for Lease

    • $3,500 /Mo
      3,600 SF

      3,600 SF Steel Structure

      3,600 SF steel structure for lease on 2 acres.
      2507 Meers Porter Hill Rd, Elgin, OK 73538
      View Details
    • Contact for pricing

      Elgin Land for Ground Lease

      Approximately 1.06 acres available for ground lease in Elgin, OK.
      7 7Th St, Elgin, OK 73538
      View Details
    • Contact for pricing
      2,718 SF

      US-277 Elgin Commercial Property

      Prime Elgin retail space, high visibility.
      7523 Us Highway 277, Elgin, OK 73538
      View Details
    • $16 SF/Yr
      24,999 SF

      Elgin Square Retail Space Available

      New retail space in prime Lawton location.
      13002-13070 Commerce Dr, Lawton, OK 73538
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    12114 Us Hwy 62
    Elgin, OK 73538-2105
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.