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    Property profile & analytics

    509 3rd St Lawton, OK 73507

    • Turn key restaurants
    • 1,372 SF
    OFF-MARKET
    Last Sale
    Jan 27, 2023
    $2,000
    Value Estimations
    $85,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-1116710
    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

    • Turn key restaurants

    Property Details for 509 3rd St

    Year built
    1940
    Construction
    FRAME
    Property size
    1,372 SF
    Property type
    Turn key restaurants
    APN
    44783
    APU
    44783

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $80,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $131,000
      Market price range: $127k - $622k
      AI Estimate
      $81,000
      Market price range: $81.8k - $187k

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

    Location Insight

    • Map
    • Local Demand
    City
    Lawton
    County
    Comanche
    State
    Oklahoma
    Longitude
    -98.6561
    Latitude
    34.4228
    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
    $446
    $394
    $4,623
    $5,017
    -
    $3,500
    $67,029
    $70,529

    Comparable in this City

    • Value Estimation
      $305,000
      3,000 SF

      18493 State Hwy 49

      RESTAURANT • 3,000 SF
      18493 State Hwy 49, Lawton, OK 73507
      View Details
    • Value Estimation
      $285,000
      2,121 SF

      1529 Cache Rd

      RESTAURANT • 2,121 SF
      1529 Cache Rd, Lawton, OK 73507-3842
      View Details
    • Value Estimation
      $300,000
      2,200 SF

      2007 Smith Ave

      RESTAURANT • 2,200 SF
      2007 Smith Ave, Lawton, OK 73507-2549
      View Details
    • Value Estimation
      $325,000
      5,000 SF

      26064 State Hwy 58

      RESTAURANT • 5,000 SF
      26064 State Hwy 58, Lawton, OK 73507-5962
      View Details
    • Value Estimation
      $305,000
      3,454 SF

      1831 Cache Rd

      RESTAURANT • 3,454 SF
      1831 Cache Rd, Lawton, OK 73507-4519
      View Details
    • Value Estimation
      $285,000
      3,000 SF

      2546 Ft Sill Blvd

      RESTAURANT • 3,000 SF
      2546 Ft Sill Blvd, Lawton, OK 73507-2024
      View Details

    Similar Nearby for Sale

    • $195,000
      6,680 SF

      Lawton, OK QSR/Restaurant

      Prime Lawton location, vacant, high traffic.
      1217 Cache Rd, Lawton, OK 73507
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    • $950,000
      8,280 SF

      Downtown Lawton Restaurant - Huge Potential

      Prime Lawton location, 8,280 sq ft, $950,000
      206 Dearborn Ave, Lawton, OK 73507
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    • $950,000
      4,800 SF

      Lawton Restaurant & Storage Opportunity

      Prime Lawton location, high-potential investment.
      206 Dearborn & 215, Lawton, OK 73507
      View Details
    • $850,000
      4,796 SF

      Operating Bar/Nightclub on NW Cache

      Fully operational bar/nightclub on high traffic NW Cache Rd.
      1825 NW Cache Rd, Lawton, OK 73507
      View Details
    • $625,000
      0.48 Acres

      Lawton Hotel Redevelopment Opportunity

      Profitable Motel, High Traffic Location
      1601 Cache Rd, Lawton, OK 73507
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    • $90,000
      0.24 Acres

      Lawton Commercial Lot: Prime Location

      High-traffic, 0.24-acre development site.
      2013 Smith Ave, Lawton, OK 73507
      View Details

    Similar Nearby for Lease

    • $7,500 /Mo
      10,077 SF

      High-Traffic Corner Restaurant/Retail Space

      Remodeled 10,077 SF building on high-traffic corner available for rent.
      2102 NW Cache Rd, Lawton, OK 73507
      View Details
    • $2,600 /Mo
      2,600 SF

      Retail/Office Space on Cache Rd

      Retail or office space available for lease on high-traffic road.
      1811 NW Cache Rd, Lawton, OK 73507
      View Details
    • $12 SF/Yr
      4,000 SF

      Lawton Retail Strip Center Opportunity

      4,000 SF Retail Space Available in Lawton, OK
      409-467 2Nd St, Lawton, OK 73507
      View Details
    • $125,000
      6,680 SF

      Retail Space on NW Cache

      6,680 SF retail space for lease near I-44.
      1217 NW Cache Rd, Lawton, OK 73507
      View Details
    • $12 SF/Yr
      1,875 SF

      Retail/Office Space For Lease

      Retail or office space available in high-traffic area.
      2113 NW Oak Ave, Lawton, OK 73507
      View Details
    • Contact for pricing
      8,020 SF

      Lawton Executive Office Space

      Historic Freestanding Building, 8,020 SF
      201 Dearborn Ave, Lawton, OK 73507
      View Details
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    509 3rd St
    Lawton, OK 73507
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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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