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    13311 NE 23Rd St Choctaw, OK 73020

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    13311 NE 23Rd St Choctaw, OK 73020

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    • Commercial land
    For Sale
    $375,000
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    4 Acres of Commercial Land For Sale
    $375,000
    4.00 Acres

    4 Acres of Commercial Land

    4 acres of land suitable for various commercial developments.

    13311 NE 23rd St, Choctaw, OK 73020
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    Property ID
    US69-0585449
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for 13311 NE 23Rd St

    Property type
    Commercial land
    Property subtype
    Commercial real estate

    Description

    The generous expanse of 4 acres presents endless possibilities tocreate a business that perfectly aligns with your vision. Whether you're envisioning flex industrial, a shopping center, office complex, or a restaurant, this property offers the canvas upon which your aspirations can flourish.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Choctaw
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.2946861
    Latitude
    35.494091

    Comparable in this City

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      5.94 acres near Highway 62, prime for development.
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    • $380,000
      5.70 Acres

      Commercial Land in Choctaw, OK

      5.7 acre commercial land with development potential.
      14301 SE 29Th St, Choctaw, OK 73020
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      2.89-Acre Commercial Property in Choctaw

      2.89-acre commercial property zoned for light industrial use.
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      Commercial Land in Choctaw, OK

      2.89-acre commercial property zoned for light industrial use.
      16533 NE 23Rd St, Choctaw, OK 73020
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    • $865,000

      Commercial Land Near Supercenter

      Commercial land available on NE 23rd Street in Choctaw, OK.
      14300 NE 23Rd St, Choctaw, OK 73020
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      Harrah Commercial Corner Lot

      1.99-acre commercial lot near Kickapoo Turnpike.
      000 Ne 23Rd St, Harrah, OK 73020
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    Similar Nearby for Sale

    • $449,513
      5.94 Acres

      Land in Nicoma Park, OK

      5.94 acres near Highway 62, prime for development.
      12512 NE 23Rd St, Nicoma Park, OK 73020
      View Details
    • $380,000
      5.70 Acres

      Commercial Land in Choctaw, OK

      5.7 acre commercial land with development potential.
      14301 SE 29Th St, Choctaw, OK 73020
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      2.89-Acre Commercial Property in Choctaw

      2.89-acre commercial property zoned for light industrial use.
      0000 Industrial Blvd, Choctaw, OK 73020
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    • Contact for pricing

      Commercial Land in Choctaw, OK

      2.89-acre commercial property zoned for light industrial use.
      16533 NE 23Rd St, Choctaw, OK 73020
      View Details
    • $865,000

      Commercial Land Near Supercenter

      Commercial land available on NE 23rd Street in Choctaw, OK.
      14300 NE 23Rd St, Choctaw, OK 73020
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    • Contact for pricing

      Harrah Commercial Corner Lot

      1.99-acre commercial lot near Kickapoo Turnpike.
      000 Ne 23Rd St, Harrah, OK 73020
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    Similar Nearby for Lease

    • Contact for pricing
      1,000 SF

      Retail Space in Choctaw

      Retail spaces available for lease in Choctaw, Oklahoma.
      14449 NE 23Rd St, Choctaw, OK 73020
      View Details
    • $3,500 /Mo
      2,942 SF

      Former Bank with Drive-Thru

      Commercial space suitable for bank, office, or retail use.
      14900 SE 29Th St, Choctaw, OK 73020
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      1,750 SF

      Retail Space in Choctaw

      Retail property with bay sizes from 1,000 to 5,386 SF.
      14469 NE 23Rd St, Choctaw, OK 73020
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    • Contact for pricing
      4,784 SF

      Former Sports Bar For Lease

      4,784 SF restaurant/bar space on 1.05 acres for lease.
      14530 NE 20Th St, Choctaw, OK 73020
      View Details
    • $2,250 /Mo
      3,500 SF

      Choctaw Office Space For Rent

      Well-positioned office space with high exposure and accessibility.
      17311 NE 23Rd St, Choctaw, OK 73020
      View Details
    • Contact for pricing
      5,386 SF

      Retail Space in Choctaw, OK

      Retail spaces available for lease in Choctaw, Oklahoma.
      14407-14453 NE 23Rd St, Choctaw, OK 73020
      View Details
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    Choctaw, OK 73020
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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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    13311 NE 23Rd St, Choctaw, OK, 73020

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