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    638 Cedar St Perry, OK 73077

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    638 Cedar St Perry, OK 73077

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    • Retail space
    • 1,775 SF
    • 0.22 lot acres
    For Sale
    $90,000
    View Listing →
    Historic Downtown Perry Retail Property For Sale
    $90,000
    1,775 SF

    Historic Downtown Perry Retail Property

    Restored 1918 building with original features and modern amenities.

    638 Cedar, Perry, OK 73077
    View Listing
    Property ID
    US69-1734655
    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

    • Ms Mabel’s LLC / Restaurant

    Property Details for 638 Cedar St

    Year built
    1918
    Lot size
    0.22 lot acres
    Property size
    1,775 SF
    Property type
    Retail space
    APN
    1000-00-00B-018-0-001-00
    APU
    10000000B018000100

    Description

    This exceptional 1,775 square foot commercial property, situated in Perry, Oklahoma's historic downtown square, presents a unique investment opportunity. Built in 1918 and meticulously restored, this building boasts captivating character with 16-foot ceilings, original steel ceilings, and rewired vintage fluorescent industrial shop fixtures. The recent renovations include a new 25-year TPO roof and decking, along with durable concrete floors. The layout features two office spaces, convenient upstairs storage, and an interior bathroom. Modern comforts are balanced with historical charm. The property also benefits from central heating and air conditioning (CHA) and convenient alley access with carport parking. The high visibility location on the south side of the square enjoys significant foot traffic, with an Oklahoma Department of Transportation (ODOT) traffic count of 3,100 vehicles daily. Ample public parking is readily available on the charming historic square. Currently leased at market value, this property offers a strong return on investment and the potential for future appreciation. The combination of historical significance, modern updates, and prime location makes this a truly exceptional commercial offering.

    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
    Perry
    County
    Noble
    State
    Oklahoma
    Longitude
    -97.2879
    Latitude
    36.2857

    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
    $339
    $1,335
    $2,115
    $3,450
    -
    $11,610
    $18,390
    $30,000

    Comparable in this City

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      305 7th St

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    • Value Estimation by Request
      981 SF

      512 Cedar St

      RETAIL STORES (PERSONAL SERVICES) • 981 SF
      512 Cedar St, Perry, OK 73077-6613
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    • Value Estimation by Request
      3,750 SF

      642 Cedar St

      RETAIL STORES (PERSONAL SERVICES) • 3,750 SF
      642 Cedar St, Perry, OK 73077-6643
      View Details
    • Value Estimation by Request
      6,000 SF

      620 Cedar St

      RETAIL STORES (PERSONAL SERVICES) • 6,000 SF
      620 Cedar St, Perry, OK 73077-6643
      View Details
    • Value Estimation by Request
      2,000 SF

      323 7th St

      RETAIL STORES (PERSONAL SERVICES) • 2,000 SF
      323 7th St, Perry, OK 73077-6405
      View Details
    • Value Estimation by Request
      3,750 SF

      618 Cedar St

      RETAIL STORES (PERSONAL SERVICES) • 3,750 SF
      618 Cedar St, Perry, OK 73077-6615
      View Details

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      Historic Downtown Perry Retail Property

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      638 Cedar St, Perry, OK 73077
      View Details
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    Perry, OK 73077
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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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