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    601 S Cherokee St Catoosa, OK 74015

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    601 S Cherokee St Catoosa, OK 74015

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    • Office buildings
    • 1,324 SF
    • 0.39 lot acres
    For Sale
    $385,000
    View Listing →
    Renovated Commercial Property Near Highway 66 For Sale
    $385,000
    1,324 SF

    Renovated Commercial Property Near Highway 66

    Versatile commercial space suitable for retail, office, or service businesses.

    601 S Cherokee Street, Catoosa, OK 74015
    View Listing
    Property ID
    US69-1046453
    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

    • Office buildings

    Property Details for 601 S Cherokee St

    Year built
    1960
    Lot size
    0.39 lot acres
    Property size
    1,324 SF
    Property type
    Office buildings
    APN
    25406
    APU
    25406

    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
    Catoosa
    County
    Rogers
    State
    Oklahoma
    Longitude
    -95.75
    Latitude
    36.18
    CBSA code
    46140
    CBSA name
    TULSA, 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
    $850
    $1,045
    $7,239
    $8,284
    -
    $9,500
    $245,539
    $255,039

    Comparable in this City

    • Value Estimation
      $640,000
      2,916 SF

      328 321st E Ave

      OFFICE BUILDING • 2,916 SF
      328 321st E Ave, Catoosa, OK 74015-5833
      View Details
    • Value Estimation
      $770,000
      12,076 SF

      161st E Ave

      OFFICE BUILDING • 12,076 SF
      161st E Ave, Catoosa, OK 74015
      View Details
    • Value Estimation
      $555,000
      2,520 SF

      4716 193rd E Ave

      OFFICE BUILDING • 2,520 SF
      4716 193rd E Ave, Catoosa, OK 74015-9505
      View Details
    • Value Estimation by Request
      1,056 SF

      120 Cherokee St

      OFFICE BUILDING • 1,056 SF
      120 Cherokee St, Catoosa, OK 74015-2013
      View Details
    • Value Estimation
      $815,000
      13,192 SF

      1801 Hwy 66

      OFFICE BUILDING • 13,192 SF
      1801 Hwy 66, Catoosa, OK 74015-3067
      View Details
    • Value Estimation
      $510,000
      2,400 SF

      920 Tenkiller

      OFFICE BUILDING • 2,400 SF
      920 Tenkiller, Catoosa, OK 74015-3441
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7,546 SF

      Catoosa Office Building For Sale

      Office building with high traffic and abundant parking.
      2310 Highway 66 N, Catoosa, OK 74015
      View Details
    • Contact for pricing
      7,546 SF

      Catoosa Office/Retail/Medical Space

      7,546 SF space suitable for office, retail, or medical use.
      2310 N Old Highway 66, Catoosa, OK 74015
      View Details
    • $799,000
      17.40 Acres

      Prime Commercial Land Near Hard Rock

      17.4 acre commercial tract near Hard Rock Hotel & Casino.
      S Cherokee St, Catoosa, OK 74015
      View Details
    • $585,000
      5,000 SF

      Catoosa Commercial Space For Sale

      Commercial space near Route 66 with versatile layout.
      517 S Cherokee St, Catoosa, OK 74015
      View Details
    • $385,000
      1,324 SF

      Renovated Commercial Property Near Highway 66

      Versatile commercial space suitable for retail, office, or service businesses.
      601 S Cherokee St, Catoosa, OK 74015
      View Details
    • Contact for pricing

      Tulsa Portfolio: Two Mobile Home Communities

      Two well-maintained Tulsa metro mobile home communities offered as portfolio.
      27701 E Admiral Pl, Catoosa, OK 74015
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Catoosa Office Spaces for Lease

      Office spaces in Catoosa with frontage on historic Route 66.
      650 S Cherokee St, Catoosa, OK 74015
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space Near Hard Rock

      Retail space available near Hard Rock Casino and Highway 44.
      1883 S Cherokee St, Catoosa, OK 74015
      View Details
    • Contact for pricing
      9,000 SF

      Catoosa Industrial Space Available

      Industrial space with secured yard in Catoosa, Oklahoma.
      21699 E Admiral Pl, Catoosa, OK 74015
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space with High Visibility

      Retail space with frontage on major roads and ample parking.
      750 S Cherokee St, Catoosa, OK 74015
      View Details
    View Listing
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    601 S Cherokee St
    Catoosa, OK 74015
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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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