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    16400 NE 23Rd St Choctaw, OK 73020

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    16400 NE 23Rd St Choctaw, OK 73020

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    • Car washes
    • 4,024 SF
    • 0.78 lot acres
    For Sale
    $616,909
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    Choctaw Car Wash For Sale For Sale
    $616,909
    4,024 SF

    Choctaw Car Wash For Sale

    Operating car wash with self-serve and automatic bays.

    16400 NE 23rd St, Choctaw, OK 73020
    View Listing
    Property ID
    US69-0557314
    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

    • Car washes

    Property Details for 16400 NE 23Rd St

    Year built
    2005
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.78 lot acres
    Property size
    4,024 SF
    Property type
    Car washes
    APN
    19-484-3010
    APU
    194843010

    Description

    This exceptional turnkey car wash opportunity in Choctaw, Oklahoma, presents a lucrative investment prospect. Located at 16400 NE 23rd St, 73020, this well-established business boasts a substantial 4,024 square foot building on a generous 33,855 square foot lot. Constructed in 2005, the property features a comprehensive setup including one automatic Water Wizard bay and five self-serve bays, ensuring efficient operation and diverse service offerings. Six vacuum stations strategically placed throughout the facility cater to customer needs, complemented by six vending machines for added revenue streams. The sale includes an additional small four-bay self-serve car wash for an additional $100,000, significantly enhancing the overall value and potential return on investment. This presents a rare chance to acquire a thriving, established business with proven profitability in a desirable location. The asking price for this complete package is $750,000. This turnkey operation offers immediate income potential with minimal setup required, making it an attractive option for experienced investors or entrepreneurs seeking a profitable venture in the car wash industry. The property's size and location provide ample space for operations and potential expansion, ensuring long-term growth and profitability.

    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
    -97.2403
    Latitude
    35.4927
    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
    $7,055
    $14,896
    $44,860
    $59,756
    -
    $135,420
    $407,820
    $543,240

    Comparable in this City

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      13975 23rd St

      CAR WASH • 6,615 SF
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      13150 23rd St

      AUTO REPAIR, GARAGE • 9,700 SF
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      7,500 SF

      17651 29th St

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    • Value Estimation by Request
      0.24 Acres

      Choctaw, OK 73020

      PARKING LOT • 0.24 Acres
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      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,024 SF

      Choctaw Car Wash For Sale

      Operating car wash with self-serve and automatic bays.
      16400 NE 23Rd St, Choctaw, OK 73020
      View Details
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      8,600 SF

      Freestanding Retail Building For Sale

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    • $850,000
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      Commercial property with bank features on a busy corner.
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    Similar Nearby for Lease

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      2,942 SF

      Former Bank with Drive-Thru

      Commercial space suitable for bank, office, or retail use.
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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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      1,000 SF

      Retail Space in Choctaw

      Retail spaces available for lease in Choctaw, Oklahoma.
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      4,784 SF

      Former Sports Bar For Lease

      4,784 SF restaurant/bar space on 1.05 acres for lease.
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      5,386 SF

      Retail Space in Choctaw, OK

      Retail spaces available for lease in Choctaw, Oklahoma.
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      View Details
    • $2,250 /Mo
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      Choctaw Office Space For Rent

      Well-positioned office space with high exposure and accessibility.
      17311 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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