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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    524 Main St Newkirk, OK 74647-6512

    • Grocery and convenience stores
    • 2,745 SF
    • 0.34 lot acres
    OFF-MARKET
    Last Sale
    Dec 30, 2020
    $275,000
    Value Estimations
    $265,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0421045
    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

    • E-Z Mart / Convenience Store
    • VP Racing Fuel Newpoint / Gas Station

    Property Details for 524 Main St

    Year built
    1978
    Lot size
    0.34 lot acres
    Property size
    2,745 SF
    Property type
    Grocery and convenience stores
    APN
    4000-00-063-009-0-000-00
    APU
    400000063009000000

    Description

    This profitable, owner-operated gas station and storefront, located at 524 S Main St, Newkirk, OK 74647, presents a unique investment opportunity. The property boasts 2,745 square feet on a 0.52-acre lot, including an additional 0.17-acre adjacent parcel. Built in 1978, the single-story building features six gas pumps, all compliant with OCC code, and three steel tanks (two E-10 and one diesel). The property includes pylon signage, an ATM generating additional income, coolers, and a small kitchen area equipped with a utility sink and a three-compartment sink. Twelve parking spaces cater to customer convenience. The property benefits from a high-traffic location on US Highway 77, with a reported 4,660 vehicles per day. The permitted commercial zoning allows for flexibility. The asking price is $669,999, with a lease option available at $4,000 per month. This strategically located gas station is just eight miles south of the Kansas border and fourteen miles north of Ponca City, OK. The property's prime corner location and ample parking contribute to its strong potential for continued success. This turnkey operation includes all necessary equipment for immediate operation.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $290,000
      ML approach
      $335,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $200,000
      Market price range: $200k - $342k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $225,000
      Current use
      COMMERCIAL (GENERAL)
      $460,000
      Change: +105% Conversion: Easy
      OFFICE BUILDING
      $440,000
      Change: +97% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $280,000
      Change: +26% Conversion: Difficult
      MEDICAL BUILDING
      $275,000
      Change: +22% Conversion: Difficult
      RETAIL STORES
      $230,000
      Change: +4% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Newkirk
    County
    Kay
    State
    Oklahoma
    Longitude
    -97.0531
    Latitude
    36.876
    CBSA code
    38620
    CBSA name
    PONCA 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
    $1,140
    $1,188
    $10,589
    $11,777
    -
    $10,800
    $96,266
    $107,066

    Comparable in this City

    • Value Estimation
      $85,000
      15,474 SF

      601 Ws St

      GROCERY, SUPERMARKET • 15,474 SF
      601 Ws St, Newkirk, OK 74647-5525
      View Details
    • Value Estimation
      $375,000
      4,104 SF

      205 Ws St

      CONVENIENCE STORE • 4,104 SF
      205 Ws St, Newkirk, OK 74647
      View Details
    • Value Estimation
      $270,000
      2,050 SF

      110 Main St

      FINANCIAL BUILDING • 2,050 SF
      110 Main St, Newkirk, OK 74647-4512
      View Details
    • Value Estimation by Request
      6,464 SF

      525 Ws St

      GYM, HEALTH SPA • 6,464 SF
      525 Ws St, Newkirk, OK 74647-5523
      View Details
    • Value Estimation by Request
      20,371 SF

      Newkirk, OK 74647

      GYM, HEALTH SPA • 20,371 SF
      Newkirk, OK 74647
      View Details
    • Value Estimation
      $260,000
      8,324 SF

      106 Main St

      FINANCIAL BUILDING • 8,324 SF
      106 Main St, Newkirk, OK 74647-4512
      View Details

    Similar Nearby for Sale

    • $48,000

      Commercial Building in Newkirk, OK

      Commercial property with large work area and garage in back.
      121 N Main St, Newkirk, OK 74647
      View Details
    • $125,000
      2,318 SF

      Downtown Newkirk Restaurant

      Historic Restaurant, Turnkey Opportunity
      116 7Th St, Newkirk, OK 74647
      View Details
    • $480,000
      160.00 Acres

      160 Acres of Oklahoma Wilderness

      Diverse 160-acre land in Kay County, Oklahoma, ideal for hunting.
      0000 W Judo Rd, Newkirk, OK 74647
      View Details
    • $650,000

      Turnkey Property with Lake Views

      Land with lake views, hay production, borders Corps land.
      Newkirk, OK 74647
      View Details
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    524 Main St
    Newkirk, OK 74647-6512
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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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