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    Property profile & analytics

    2201 Main St Altus, OK 73521-1623

    • Retail space
    • 1,320 SF
    • 2.19 lot acres
    OFF-MARKET
    Value Estimations
    $215,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-1412726
    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

    • Mar-Bon Apartments / Apartment Building

    Property Details for 2201 Main St

    Year built
    1995
    Lot size
    2.19 lot acres
    Property size
    1,320 SF
    Property type
    Retail space
    APN
    0275-00-001-000-0-001-00
    APU
    27500001000000100

    Description

    This exceptional investment opportunity in Altus, Oklahoma, presents a unique dual-building property spanning 39,020 square feet on a 0.28-acre lot. The main attraction is the Jersey Mike's Subs building, currently occupied under a lease agreement, providing immediate and consistent rental income. This ensures a stable return on investment from day one. Adjacent to Jersey Mike's is a second building, formerly Lamberts, which offers versatile space ideal for a variety of uses. This building features a well-appointed office area with two separate offices and a reception/greeting area, perfect for administrative functions or client interaction. Adding to its functionality, the east side of the Lamberts building boasts two large overhead doors, leading to a substantial warehouse space. A sizable loft area above the warehouse provides ample additional storage capacity, maximizing the property's utility and potential. The property's location at 2201 N Main Street in Altus places it in a high-traffic area, ensuring excellent visibility and accessibility for both tenants and customers. The asking price for this lucrative investment is $538,000. This property is a rare find, combining established rental income with significant expansion potential. Don't miss this chance to acquire a valuable asset in a thriving Oklahoma community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $220,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $171,000
      Market price range: $65.9k - $171k

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

    Location Insight

    • Map
    • Local Demand
    City
    Altus
    County
    Jackson
    State
    Oklahoma
    Longitude
    -99.3348
    Latitude
    34.6628
    CBSA code
    11060
    CBSA name
    ALTUS, 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
    $15,430
    $27,941
    $153,074
    $181,015
    -
    $232,842
    $1,275,616
    $1,508,458

    Comparable in this City

    • Value Estimation
      $300,000
      3,750 SF

      Altus, OK 73521

      RETAIL STORES (PERSONAL SERVICES) • 3,750 SF
      Altus, OK 73521
      View Details
    • Value Estimation
      $280,000
      3,560 SF

      709 Sutherland St

      RETAIL STORES (PERSONAL SERVICES) • 3,560 SF
      709 Sutherland St, Altus, OK 73521-4040
      View Details
    • Value Estimation
      $340,000
      2,120 SF

      15625 Us Hwy 283

      RETAIL STORES (PERSONAL SERVICES) • 2,120 SF
      15625 Us Hwy 283, Altus, OK 73521-8368
      View Details
    • Value Estimation
      $230,000
      1,400 SF

      Altus, OK 73521

      RETAIL STORES (PERSONAL SERVICES) • 1,400 SF
      Altus, OK 73521
      View Details
    • Value Estimation
      $260,000
      494 SF

      824 Broadway St

      RETAIL STORES (PERSONAL SERVICES) • 494 SF
      824 Broadway St, Altus, OK 73521
      View Details
    • Value Estimation
      $275,000
      2,500 SF

      400 Broadway St

      RETAIL STORES (PERSONAL SERVICES) • 2,500 SF
      400 Broadway St, Altus, OK 73521-5536
      View Details

    Similar Nearby for Sale

    • $155,000

      Prime Commercial Space on Square

      Highly visible, updated commercial property in downtown Altus, Oklahoma.
      102 W Broadway St, Altus, OK 73521
      View Details
    • $349,000
      3,780 SF

      Versatile Business Complex on Broadway

      Multi-faceted business complex with three storefronts in Altus, Oklahoma.
      2300 E Broadway St, Altus, OK 73521
      View Details
    • $1,250,000
      7,540 SF

      Established Automotive Business with Real Estate

      Long-standing Altus business with inventory, assets, and real estate for sale.
      1420 W Broadway St, Altus, OK 73521
      View Details
    • $5,000,000
      121,124 SF

      85,453 SF Retail Center

      Retail center anchored by Dunham's Sports on 8.36 acres.
      1100-1121 N Main St, Altus, OK 73521
      View Details
    • $400,000
      2,948 SF

      Altus Restaurant - Turnkey Opportunity

      Established Mexican Restaurant, Great Income!
      1221 Grady St, Altus, OK 73521
      View Details
    • $1,713,315
      4,854 SF

      Applebee's NNN Investment Opportunity

      NNN leased Applebee's with annual rent increases in Altus, OK.
      3501 N Main St, Altus, OK 73521
      View Details
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    2201 Main St
    Altus, OK 73521-1623
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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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