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    Property profile & analytics

    16677 Us Highway 77 Springer, OK 73458

    • Commercial real estate
    • 2,900 SF
    • 7.91 lot acres
    For Sale
    View listing
    $990,000
    Last Sale
    Dec 06, 2021
    $899,000
    Value Estimations
    Cap Rate Potential
    3.5%
    Commercial real estate
    Location Intelligence
    Property ID
    US69-1908405
    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

    • Commercial real estate

    Property Details for 16677 Us Highway 77

    Year built
    2018
    Lot size
    7.91 lot acres
    Property size
    2,900 SF
    Property type
    Commercial real estate
    APN
    5090-12-03S-01E-1-005-00
    APU
    50901203S01E100500

    Description

    This exceptional 7.96-acre property in Springer, OK, presents a lucrative investment opportunity. The established Cool Breeze RV Park & Restaurant boasts 56 RV spaces with significant expansion potential, offering immediate income generation. The park features modern infrastructure, including a recently constructed keypad-operated bathhouse equipped with four showers and a tankless hot water heater. Residents enjoy excellent Wi-Fi access, a basketball court, a dog park, and ample picnic areas. The property also includes an on-site restaurant strategically located across from the local high school, making it the only restaurant in the immediate area. This unique positioning ensures a consistent customer base. The 3,600 square foot restaurant and RV park are conveniently situated just minutes from Interstate 35, midway between Oklahoma City and Dallas, providing easy access for travelers and residents alike. The property's history includes a drive-in movie cinema, and the existing movie equipment is available for purchase, offering a potential avenue for diversification and expansion. The property's established management ensures a smooth transition for the new owner, minimizing operational challenges and maximizing profitability. This turnkey operation is priced at $990,000 and offers a rare blend of established revenue streams and significant growth opportunities. The 8 acres provide ample space for future development and expansion of the existing amenities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $975,000
      ML approach
      $905,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Springer
    County
    Carter
    State
    Oklahoma
    Longitude
    -97.1443
    Latitude
    34.3131
    CBSA code
    11620
    CBSA name
    ARDMORE, 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
    $8,552
    $39,000
    $60,447
    $99,447
    -
    $324,999
    $503,721
    $828,720

    Comparable in this City

    • Value Estimation
      $265,000
      78.80 Acres

      15415 State Hwy 53

      COMMERCIAL (GENERAL) • 78.80 Acres
      15415 State Hwy 53, Springer, OK 73458-8144
      View Details
    • Value Estimation
      $260,000
      0.71 Acres

      15695 Us Hwy 77

      COMMERCIAL (GENERAL) • 0.71 Acres
      15695 Us Hwy 77, Springer, OK 73458
      View Details
    • Value Estimation
      $295,000
      1,650 SF

      25507 State Hwy 76

      COMMERCIAL (GENERAL) • 1,650 SF
      25507 State Hwy 76, Springer, OK 73458
      View Details
    • Value Estimation
      $260,000
      1.14 Acres

      Us Hwy 77

      COMMERCIAL (GENERAL) • 1.14 Acres
      Us Hwy 77, Springer, OK 73458
      View Details
    • Value Estimation
      $330,000
      118 SF

      Us Hwy 77

      COMMERCIAL (GENERAL) • 118 SF
      Us Hwy 77, Springer, OK 73458
      View Details
    • Value Estimation
      $305,000
      288 SF

      495 Hereford Rd

      COMMERCIAL (GENERAL) • 288 SF
      495 Hereford Rd, Springer, OK 73458
      View Details

    Similar Nearby for Sale

    • $990,000
      3,600 SF

      Springer RV Park & Restaurant

      Profitable Turnkey RV Resort Investment
      16677 Us Highway 77, Springer, OK 73458
      View Details
    • $799,000
      1,920 SF

      Springer, OK Mixed-Use Property

      Profitable OK RV Park & Restaurant
      16677 Us Highway 77, Springer, OK 73458
      View Details
    • Contact for pricing

      Land for Build to Suit

      2.5 to 10 acres available for build to suit lease.
      11079 State Highway 53, Springer, OK 73458
      View Details
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    Springer, OK 73458
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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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