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    Property profile & analytics

    2300 E Broadway St Altus, OK 73521

    • Retail space
    • 3,780 SF
    • 0.86 lot acres
    For Sale
    View listing
    $349,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-1648315
    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

    • Rowland Motor Company / Car Dealer

    Property Details for 2300 E Broadway St

    Year built
    1974
    Lot size
    0.86 lot acres
    Property size
    3,780 SF
    Property type
    Retail space
    APN
    0022-21-002-020-0-025-00
    APU
    2221002020002500

    Description

    This exceptional investment opportunity presents a multi-faceted business complex ideally situated on Broadway in Altus, Oklahoma's thriving business district. The property encompasses three distinct storefronts, each offering unique potential for a variety of business ventures. With a total of 3,780 square feet situated on a 0.86-acre lot, this complex provides ample space for diverse operations. The location on Broadway ensures high visibility and significant foot traffic, benefiting from convenient access to major roads and highways. Modern facilities and well-maintained infrastructure are complemented by ample parking for both customers and employees. The surrounding area is a dynamic commercial hub, offering a supportive environment for business growth and success. The versatility of the three separate storefronts allows for a range of uses, from retail spaces to professional offices. This property's prime location and the steady economic growth of Altus, Oklahoma, make it a compelling investment opportunity with strong potential for lucrative returns, whether through leasing or establishing your own business. The property is priced at $349,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $350,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $353,000
      Market price range: $189k - $490k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $330,000
      Current use
      COMMERCIAL (GENERAL)
      $435,000
      Change: +32% Conversion: Easy
      AUTO REPAIR, GARAGE
      $410,000
      Change: +25% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Altus
    County
    Jackson
    State
    Oklahoma
    Longitude
    -99.3029
    Latitude
    34.6374
    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
    $1,128
    $6,463
    $6,769
    $13,232
    -
    $53,861
    $56,408
    $110,269

    Comparable in this City

    • Value Estimation
      $245,000
      3,750 SF

      Altus, OK 73521

      RETAIL STORES (PERSONAL SERVICES) • 3,750 SF
      Altus, OK 73521
      View Details
    • Value Estimation
      $230,000
      3,560 SF

      709 Sutherland St

      RETAIL STORES (PERSONAL SERVICES) • 3,560 SF
      709 Sutherland St, Altus, OK 73521-4040
      View Details
    • Value Estimation
      $310,000
      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
      $295,000
      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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    2300 E Broadway St
    Altus, OK 73521
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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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