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    2821 W 3Rd St Elk City, OK 73644

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    2821 W 3Rd St Elk City, OK 73644

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    • Outlet malls
    • 8,470 SF
    • 0.53 lot acres
    For Sale
    $500,000
    View Listing →
    Prime Retail Location on Route 66 For Sale
    $500,000
    8,470 SF

    Prime Retail Location on Route 66

    Retail store with ample parking and loading dock on busy street.

    2821 W 3rd Street, Elk City, OK 73644
    View Listing
    Property ID
    US69-0796161
    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

    • Circle A Western and Outdoor / (Bike/Boat/Book/etc) Store
    • Sears Appliance Repair / Home Appliance Store

    Property Details for 2821 W 3Rd St

    Year built
    1998
    Construction
    FRAME
    Lot size
    0.53 lot acres
    Property size
    8,470 SF
    Zone code
    R1
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    0250-00-002-003-0-000-00
    APU
    25000002003000000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $330,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $539,000
      Market price range: $248k - $676k
      AI Estimate
      $644,000
      Market price range: $350k - $824k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $465,000
      Current use
      OFFICE BUILDING
      $830,000
      Change: +78% Conversion: Easy
      AUTO REPAIR, GARAGE
      $545,000
      Change: +17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Elk City
    County
    Beckham
    State
    Oklahoma
    Longitude
    -99.4394
    Latitude
    35.4121
    CBSA code
    21120
    CBSA name
    ELK CITY, 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
    $4,135
    $8,280
    $36,297
    $44,577
    -
    $69,000
    $302,471
    $371,471

    Comparable in this City

    • Value Estimation
      $1,730,000
      64,306 SF

      3901 Main

      WHOLESALE OUTLET, DISCOUNT STORE • 64,306 SF
      3901 Main, Elk City, OK 73644
      View Details
    • Value Estimation by Request
      3,000 SF

      201 Main St

      WHOLESALE OUTLET, DISCOUNT STORE • 3,000 SF
      201 Main St, Elk City, OK 73644-5745
      View Details
    • Value Estimation
      $1,685,000
      29,780 SF

      Elk City, OK 73644

      WHOLESALE OUTLET, DISCOUNT STORE • 29,780 SF
      Elk City, OK 73644
      View Details
    • Value Estimation
      $1,185,000
      19,696 SF

      1210 Main St

      WHOLESALE OUTLET, DISCOUNT STORE • 19,696 SF
      1210 Main St, Elk City, OK 73644-6917
      View Details
    • Value Estimation
      $580,000
      6,546 SF

      1314 3rd St

      WHOLESALE OUTLET, DISCOUNT STORE • 6,546 SF
      1314 3rd St, Elk City, OK 73644-5108
      View Details
    • Value Estimation
      $2,350,000
      61,900 SF

      Elk City, OK 73644

      WHOLESALE OUTLET, DISCOUNT STORE • 61,900 SF
      Elk City, OK 73644
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,600 SF

      Gravel Lot Near Truck Stop

      9 acre lot near Love's truck stop, hotels, restaurants.
      2901 Highway 66 E, Elk City, OK 73644
      View Details
    • $2,880,000
      43,475 SF

      Versatile Commercial Property Near I-40

      Expansive 39.92-acre property with four buildings near I-40.
      906 S Eastern Ave, Elk City, OK 73644
      View Details
    • $148,000
      2,020 SF

      Elk City Commercial Corner Lot

      Remodeled commercial property with office, retail, and warehouse potential.
      323 S Randall Cor, Elk City, OK 73644
      View Details
    • $148,000
      2,020 SF

      Remodeled Commercial Property on Corner Lot

      Remodeled commercial property suitable for office, retail, or warehouse use.
      323 S Randall Ave, Elk City, OK 73644
      View Details
    • $850,000
      7,000 SF

      Route 66 Business Opportunity

      Established business on historic Route 66 in Elk City, Oklahoma.
      1402 W 3Rd St, Elk City, OK 73644
      View Details
    • New
      $168,000
      Pending

      Route 66 Commercial Property

      4,900 SF commercial property on Historical Route 66.
      1923 W 3Rd St, Elk City, OK 73644
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,694 SF

      Restaurant Building with Drive Thru

      Free-standing restaurant building with drive-thru available for lease.
      2710 W 3Rd St, Elk City, OK 73644
      View Details
    • Contact for pricing

      Commercial Land For Rent

      Commercial land for rent, I-40 frontage, will divide.
      300 Regional Dr, Elk City, OK 73644
      View Details
    • $2,750 /Mo
      5,000 SF

      Elk City Office Space Available

      Stand-alone office space with multiple offices, reception, and kitchen.
      108 W 12Th St, Elk City, OK 73644
      View Details
    • Contact for pricing

      Land Available For Lease

      Land for lease located at 1100 Hwy 34, Elk City.
      1100 Highway 34, Elk City, OK 73644
      View Details
    • $5 SF/Yr

      Commercial Land I-40 Frontage

      6.7 acres of commercial land with I-40 frontage.
      E2100 East 3Rd St, Elk City, OK 73644
      View Details
    • $5 SF/Yr
      6 SF

      6.7 Acres Commercial Land Available

      Commercial land for rent with I-40 frontage, 6.7 acres.
      E2100 East 3Rd St, Elk City, OK 73644
      View Details
    View Listing
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    Elk City, OK 73644
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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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