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    371041 960 Rd Castle, OK 74833

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    371041 960 Rd Castle, OK 74833

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    • Grocery and convenience stores
    • 96 SF
    For Sale
    $169,000
    View Listing →
    Prime Castle, OK Mixed-Use Property For Sale
    $169,000
    2,676 SF

    Prime Castle, OK Mixed-Use Property

    Country Store, Cafe, & Apartment - High Potential

    371041 960 Rd, Castle, OK 74833
    View Listing
    Property ID
    US69-1927273
    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

    • Grocery and convenience stores

    Property Details for 371041 960 Rd

    Year built
    1980
    Construction
    FRAME
    Property size
    96 SF
    Property type
    Grocery and convenience stores
    APN
    0601-00-002-001-0-001-00
    APU
    60100002001000100

    Description

    This exceptional mixed-use property in Castle, Oklahoma, presents a unique investment opportunity. Located at 371041 E 960 Road Unit 371041, this well-established business boasts a loyal customer base, having served as the community's central hub for years. The property encompasses a substantial 2,676 square feet situated on a 0.08-acre lot. The main building houses a thriving country store and cafe, fully equipped with ample shelving, gas pumps, and extensive storage space. The cafe features a large dining area and a fully functional kitchen, complete with refrigerators, freezers, a fryer, a grill, large sinks, and other essential commercial kitchen equipment. Adding to its versatility, an attached apartment offers significant potential. This space could generate additional rental income, serve as extra storage, or provide convenient owner-occupied housing. The asking price for this turnkey operation is $169,000. This property represents a rare chance to acquire a profitable, established business with significant upside potential in a close-knit community. The property's strategic location and existing customer base make it an attractive investment for both seasoned entrepreneurs and first-time business owners. Don't miss this opportunity to own a piece of Castle's history and future.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Welty
    County
    Okfuskee
    State
    Oklahoma
    Longitude
    -96.4027
    Latitude
    35.6244

    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
    $918
    $2,496
    $8,903
    $11,399
    -
    $33,612
    $87,603
    $121,215

    Comparable in this City

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      224 SF

      32 1st St

      WAREHOUSE, STORAGE • 224 SF
      32 1st St, Welty, OK 74833
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      1.12 Acres

      Castle, OK 74833

      VACANT COMMERCIAL LAND • 1.12 Acres
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    • Value Estimation by Request
      2,925 SF

      98141 Hwy 48

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    • Value Estimation by Request
      1,248 SF

      371001 960th Rd

      WAREHOUSE, STORAGE • 1,248 SF
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      View Details

    Similar Nearby for Sale

    • $169,000
      2,676 SF

      Prime Castle, OK Mixed-Use Property

      Country Store, Cafe, & Apartment - High Potential
      371041 960 Rd, Castle, OK 74833
      View Details
    • $285,000
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      63.91 Acres with Two Ponds

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    • Contact for pricing
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    View Listing
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    Castle, OK 74833
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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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