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    Property profile & analytics

    711 Steele Ave Cushing, OK 74023-2248

    • Bars
    • 2,576 SF
    • 0.86 lot acres
    OFF-MARKET
    Last Sale
    Aug 10, 2020
    $150,000
    Value Estimations
    $160,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0890644
    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

    • The Peacock Rouxm / Restaurant

    Property Details for 711 Steele Ave

    Year built
    1970
    Lot size
    0.86 lot acres
    Property size
    2,576 SF
    Property type
    Bars
    Property subtype
    Pubs
    APN
    600002422
    APU
    600002422

    Description

    This exceptional commercial property in Cushing, Oklahoma, presents a unique investment opportunity. Spanning 4,016 square feet across two buildings on a 1.09-acre lot, this versatile space is ideally suited for a restaurant, bar, or event venue. The property is fully equipped for food service, boasting a walk-in refrigeration unit and a 10-foot vent hood, ready for immediate use or lease upon purchase. An expansive patio area complements the indoor/outdoor performance building, which includes pre-installed plumbing, electrical, and a bartop, perfect for hosting live events. The property's strategic location in Cushing, a town with a population of approximately 7,800, offers significant advantages. Its proximity to major highways and local hotels, including the Best Western Plus Cushing Inn & Suites (0.2 miles), The Oasis Extended Stay (0.6 miles), and the Executive Inn & Suites (1.9 miles), ensures high visibility and accessibility for both local residents and tourists. This prime location makes it an excellent choice for businesses seeking to attract a diverse clientele and capitalize on the area's traffic flow. The property's existing infrastructure and versatile design offer immediate potential for a variety of commercial uses, making it a highly attractive investment opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $160,000
      ML approach
      $225,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Cushing
    County
    Payne
    State
    Oklahoma
    Longitude
    -96.7694
    Latitude
    35.9865
    CBSA code
    44660
    CBSA name
    STILLWATER, 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
    $1,862
    $1,800
    $20,280
    $22,080
    -
    $19,350
    $217,900
    $237,250

    Comparable in this City

    • Value Estimation
      $375,000
      2,000 SF

      122 Broadway St

      BAR, TAVERN • 2,000 SF
      122 Broadway St, Cushing, OK 74023-3222
      View Details
    • Value Estimation
      $355,000
      3,143 SF

      2234 Main St

      RESTAURANT • 3,143 SF
      2234 Main St, Cushing, OK 74023-2907
      View Details
    • Value Estimation
      $325,000
      5,762 SF

      1327 Main St

      RESTAURANT • 5,762 SF
      1327 Main St, Cushing, OK 74023
      View Details
    • Value Estimation
      $385,000
      7,486 SF

      2336 Main St

      RESTAURANT • 7,486 SF
      2336 Main St, Cushing, OK 74023-2905
      View Details
    • Value Estimation
      $105,000
      1,020 SF

      416 Main St

      RESTAURANT • 1,020 SF
      416 Main St, Cushing, OK 74023
      View Details
    • Value Estimation
      $350,000
      2,572 SF

      1544 Main St

      RESTAURANT • 2,572 SF
      1544 Main St, Cushing, OK 74023-3040
      View Details

    Similar Nearby for Sale

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      75060 S 3570 Rd, Cushing, OK 74023
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    • $500,000
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      300+ Acre Ranch Land

      300+ acres of ranch land perfect for cattle.
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    • New
      Contact for pricing
      4.37 Acres

      Rural Acreage Near Cushing, OK

      4.37 acres in a quiet, accessible rural setting.
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      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      2,700 SF

      Former Walgreens with Drive Thru

      Freestanding retail building with drive-thru, available for sublease.
      1405 East Main St, Cushing, OK 74023
      View Details
    • $5 SF/Yr
      79,050 SF

      Warehouse Space in Cushing, Oklahoma

      79,050 square foot warehouse space available for lease.
      1200 N Maitlen Dr, Cushing, OK 74023
      View Details
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    711 Steele Ave
    Cushing, OK 74023-2248
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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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