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    Property profile & analytics

    324 Main St Shawnee, OK 74801

    • Drug stores
    • 1,973 SF
    • 0.08 lot acres
    For Sale
    View listing
    $205,000
    Last Sale
    Aug 11, 2021
    $120,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0364661
    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

    • Drug stores

    Property Details for 324 Main St

    Year built
    1939
    Lot size
    0.08 lot acres
    Property size
    1,973 SF
    Property type
    Drug stores
    APN
    0495-00-017-010-0-000-00
    APU
    49500017010000000

    Description

    This exceptional 2-story, 2,875 square foot retail building, located at 324 E Main St in Shawnee, Oklahoma, presents a unique investment opportunity. Built in 1905, this vacant property boasts a prime corner lot location in a high-traffic area near the downtown core, ideal for various uses including retail, restaurant, or office space. The building is currently in grey shell condition, offering a blank canvas for customization and design. Its 2,875 square feet of net rentable space is priced at $71.30 per square foot, totaling an asking price of $205,000. Convenient curbside parking ensures easy accessibility for customers and employees. A separate entrance provides potential for additional rental income through a second tenant or business. The property is zoned for commercial use and offers a blend of historic charm and modern adaptability, making it an attractive investment in a thriving downtown area. This is a chance to own a piece of Shawnee's history and shape its future.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $120,000
      ML approach
      $110,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Shawnee
    County
    Pottawatomie
    State
    Oklahoma
    Longitude
    -96.9186
    Latitude
    35.3276
    CBSA code
    43060
    CBSA name
    SHAWNEE, 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
    $1,580
    $1,782
    $13,338
    $15,120
    -
    $15,000
    $111,301
    $126,301

    Comparable in this City

    • Value Estimation by Request
      8,500 SF

      501 Main St

      Individual retail properties • 8,500 SF
      501 Main St, Shawnee, OK 74801
      View Details
    • Value Estimation
      $260,000
      496 SF

      602 Bdwy

      BARBER, HAIR SALON • 496 SF
      602 Bdwy, Shawnee, OK 74801
      View Details
    • Value Estimation
      $295,000
      289 SF

      201 9th St

      RETAIL STORES (PERSONAL SERVICES) • 289 SF
      201 9th St, Shawnee, OK 74801-6815
      View Details
    • Value Estimation
      $305,000
      7,000 SF

      127 Bell Ave

      RETAIL STORES (PERSONAL SERVICES) • 7,000 SF
      127 Bell Ave, Shawnee, OK 74801-7951
      View Details
    • Value Estimation
      $255,000
      1,435 SF

      1125 Kickapoo Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,435 SF
      1125 Kickapoo Ave, Shawnee, OK 74801-4845
      View Details
    • Value Estimation
      $310,000
      2,250 SF

      19 Main St

      RETAIL STORES (PERSONAL SERVICES) • 2,250 SF
      19 Main St, Shawnee, OK 74801-6831
      View Details

    Similar Nearby for Sale

    • $205,000
      2,875 SF

      Downtown Shawnee Retail Gem

      Historic Charm, Modern Potential, High Traffic
      324 Main St, Shawnee, OK 74801
      View Details
    • $495,000
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      Shawnee Main Street Retail Gem

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      20 Main St, Shawnee, OK 74801
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    • $115,000
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      Main Street Shawnee Storefront

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    • $115,000
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      Main Street Shawnee Opportunity

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      208 E Main St, Shawnee, OK 74801
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    • $134,900
      1,774 SF

      Commercial Property with Barber Shop

      Commercial property with home, four lots, garage, and rented barbershop.
      332 N Harrison St, Shawnee, OK 74801
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    • $1,500,000
      14.66 Acres

      Shawnee Commercial Property on Multiple Parcels

      Commercial property with retail, warehouse, and land parcels for sale.
      302 Beard St, Shawnee, OK 74801
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    Similar Nearby for Lease

    • $1,800 /Mo
      1,550 SF

      Shawnee Retail or Office Space

      Versatile 1,550 SF space near downtown Shawnee.
      432 N Broadway Ave, Shawnee, OK 74801
      View Details
    • $2 SF/Yr
      1,500 SF

      Industrial Space Available for Lease

      Divisible industrial space ideal for manufacturing and distribution.
      215 N Bell Ave, Shawnee, OK 74801
      View Details
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    324 Main St
    Shawnee, OK 74801
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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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