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    21960 Hwy 66 Luther, OK 73054
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    21960 Hwy 66 Luther, OK 73054

    View on Map
    • Bars & Pubs
    • 1,916 SF
    • 150.56 lot acres
    Off-Market
    Last Sale Feb 20, 2020
    Property ID
    US69-0466509
    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

    • Bars & Pubs

    Property Details for 21960 Hwy 66

    Year built
    1926
    Construction
    FRAME
    Lot size
    150.56 lot acres
    Property size
    1,916 SF
    Property type
    Bars & Pubs
    Property subtype
    Pubs
    APN
    16-864-3400
    APU
    168643400

    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
    Luther
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.1458
    Latitude
    35.6628
    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
    $1,200
    $3,154
    $10,044
    $13,198
    -
    $35,894
    $114,294
    $150,188

    Comparable in this City

    • Value Estimation by Request
      1,106 SF

      16001 192nd St

      RESTAURANT • 1,106 SF
      16001 192nd St, Oklahoma City, OK 73054
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    • Value Estimation by Request
      1,620 SF

      104 Main St

      RESTAURANT • 1,620 SF
      104 Main St, Luther, OK 73054
      View Details
    • Value Estimation by Request
      774 SF

      204 Ash St

      RESTAURANT • 774 SF
      204 Ash St, Luther, OK 73054-9083
      View Details
    • Value Estimation
      $525,000
      5,130 SF

      205 3rd St

      RETAIL STORES (PERSONAL SERVICES) • 5,130 SF
      205 3rd St, Luther, OK 73054-7002
      View Details
    • Value Estimation by Request
      7,200 SF

      19680 Luther Rd

      Retail properties & Spaces • 7,200 SF
      19680 Luther Rd, Luther, OK 73054
      View Details
    • Value Estimation by Request
      4,500 SF

      Luther, OK 73054

      GYM, HEALTH SPA • 4,500 SF
      Luther, OK 73054
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,964 SF

      Restored 19th Century Building

      Restored building in Luther, Oklahoma, near Route 66.
      116 S Main St, Luther, OK 73054
      View Details
    • $460,000
      40.00 Acres

      40 Acres Near Oklahoma City

      40 acres of land with paved road frontage near OKC.
      21705 N Pottawatomie Rd, Luther, OK 73054
      View Details
    • Contact for pricing

      New Albany Industrial Park Land

      Master-planned industrial park with sites up to 150 acres.
      161 New Albany Expy, Luther, OK 73054
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    • $1,195,000
      12.00 Acres

      Oklahoma Freedom: 12 Acres Land

      12 acres near Arcadia with greenhouse, shop, and renovated home.
      22525 N Luther Rd, Luther, OK 73054
      View Details
    • $351,000
      4,964 SF

      Historic Downtown Luther Building

      Prime Location, Fully Restored, High Traffic
      116 Main St, Luther, OK 73054
      View Details
    • $595,000
      10.00 Acres

      10 Acres on Route 66

      Buildable land with ponds, ideal for residential or equestrian use.
      16500 E Danforth Rd, Luther, OK 73054
      View Details
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    21960 Hwy 66
    Luther, OK 73054
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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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