231 Broadway St Lexington, OK 73051-9046
This charming 1918 Methodist church presents a unique investment opportunity in Lexington, Oklahoma. Situated on a 0.32-acre lot (14,000 sq ft) directly on Highway 39, this 3,334 square foot building boasts a striking 20-foot high decorative ceiling, adding to its historical character. While some renovations are needed, the property is currently usable in its existing condition. The C-1 retail zoning allows for diverse uses, including the possibility of residential occupancy, either in conjunction with a business or independently. This versatile property offers significant potential for adaptive reuse, capitalizing on its prime highway location and distinctive architectural features. The building's size and zoning provide flexibility for a variety of commercial ventures or a unique residential conversion project. Its prominent Highway 39 location ensures high visibility and accessibility, making it an attractive proposition for entrepreneurs and investors alike. The substantial lot size offers ample space for expansion or additional development. This is a rare chance to acquire a piece of Lexington's history with significant upside potential.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Property description
Physical attributes from public recordsZoning & alternative use
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Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.