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    502 Sheridan Rd Lawton, OK 73505-6505

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    Property profile & analytics

    502 Sheridan Rd Lawton, OK 73505-6505

    View on Map
    • Strip malls
    • 13,771 SF
    • 0.92 lot acres
    Off-Market
    Property ID
    US69-0549993
    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
    $555,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Rental Properties / Apartment Building
    • Advanced Hearing Aids Inc / Medical Clinic
    • Salt - Spin and Fitness Studio, LLC / Cycling Facility / Gym & Fitness Center
    • Trade Finance Company / Financial Advisor
    • Martus Stone / General Contractor

    Property Details for 502 Sheridan Rd

    Year built
    1987
    Construction
    BRICK
    Lot size
    0.92 lot acres
    Property size
    13,771 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    44758
    APU
    44758

    Description

    This exceptional Lawton, Oklahoma commercial property, located at 502 NW Sheridan Rd, zip code 73505, offers multiple suites ideal for a variety of businesses. The building, constructed in 1987, boasts a total of 13,771 square feet and is classified as Class C. Currently, there are two available spaces ranging from a minimum of 1,400 square feet to a maximum contiguous space of 2,045 square feet. The property is zoned C-5, allowing for diverse commercial uses. Its versatile nature makes it suitable for medical offices, creative office spaces, traditional office setups, or even salons, reflecting its diverse subtype designations. The building enjoys a highly visible location on one of Lawton's busiest thoroughfares, situated conveniently near the intersection of Sheridan Road and Ferris Avenue. Recent exterior renovations have given the property a fresh, modern look. This presents a unique opportunity for businesses seeking a well-located, adaptable space in a thriving Lawton commercial district. The minimum divisible space is 1,400 square feet, providing flexibility for smaller businesses, while larger tenants can occupy up to 2,045 contiguous square feet.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $445,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $671,000
      Market price range: $430k - $1.10M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $635,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Lawton
    County
    Comanche
    State
    Oklahoma
    Longitude
    -98.4228
    Latitude
    34.6149
    CBSA code
    30020
    CBSA name
    LAWTON, OK METROPOLITAN 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
    $15,443
    $36,068
    $106,738
    $142,806
    -
    $320,600
    $948,786
    $1,269,386

    Comparable in this City

    • Value Estimation by Request
      1,875 SF

      2602 Sheridan Rd

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      View Details
    • Value Estimation
      $1,545,000
      11,629 SF

      4645 Gore Blvd

      SHOPPING CENTER, STRIP CENTER • 11,629 SF
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    • Value Estimation by Request
      6,000 SF

      2515 38th St

      SHOPPING CENTER, STRIP CENTER • 6,000 SF
      2515 38th St, Lawton, OK 73505-1851
      View Details
    • Value Estimation by Request
      3,875 SF

      7846 Us Hwy 277

      SHOPPING CENTER, STRIP CENTER • 3,875 SF
      7846 Us Hwy 277, Lawton, OK 73505
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    • Value Estimation by Request
      6,000 SF

      1310 47th St

      SHOPPING CENTER, STRIP CENTER • 6,000 SF
      1310 47th St, Lawton, OK 73505-3400
      View Details
    • Value Estimation by Request
      5,818 SF

      3130 Cache Rd

      SHOPPING CENTER, STRIP CENTER • 5,818 SF
      3130 Cache Rd, Lawton, OK 73505-3800
      View Details

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      High-traffic retail location with income and development potential.
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      Retail Strip Center For Sale

      Retail strip center with long-term and national tenants.
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    Similar Nearby for Lease

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      Retail Space in Erwin Acres

      4,800 SF retail space in busy shopping center.
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      Centrally located shopping center with spaces for retail and restaurants.
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      Retail/Office Space Available

      Retail or office space in high-traffic shopping center.
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      View Details
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      3,500 SF

      Retail Space in Lawton, OK

      Retail space available in Lawton, Oklahoma near major retailers.
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      1,135 SF

      Retail Space in Lawton, OK

      Retail space available in Lawton, Oklahoma near major retailers.
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      View Details
    • $10 SF/Yr
      37,084 SF

      Lawton, OK Executive Office Space

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      View Details
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    Lawton, OK 73505-6505
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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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    502 Sheridan Rd, Lawton, OK, 73505

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