$895,000

102 SW 11th St, Lawton, OK 73501

  • 135 baths |
  • 22,080 sqft
  • Property Icon Commercial Property
  • Property Year Built Icon Built in 1972
  • Property Lot Size Icon0.86acre lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $41/sqft
  • Property List Date Icon Listed 7 days ago

Property Description

102 SW 11th, Lawton, Oklahoma (22,080 SF, leased at $5,750/month, and with electrical completely updated, plumbing updated, freshly painted interior in two suites, roof 2 years old, all new HVAC updated, services, LED lighting installed with panels throughout the entire building, new garage door on loading deck. Stainless steel kitchen equipment installed in one smaller suite, with newly updated bathroom, doors, flooring, fresh paint, wall mounted tv and tables, chairs to accommodate tenant needs. 135 Parking spaces. Key data: Current lease income: $5,750/month ? $69,000/year. Size: 22,080 SF ' means current rent averages about $3L12/SF/year ( $69,000 - 22,080 ). Under rented based on community need to support a highly impactful program, Salvation Army. Market data: For commercial properties in Lawton: Retail cap-rates range roughly from -5.5% to 13% in the market. For the broader city all-property average cap rate cited at -8.37%. Improvements made with electrical, roof, EVAC reduce risk/investment required and allow for higher rent. Valuation scenarios: Using the cap-rate method (Value = Net Operating Income + Cap Rate). Assume some modest expense allowance; Simply use NOI - $69,000 (pretending expenses are modest) to give a range. At a 8% cap rate (consistent with the -8.4% market average) ? Value $69,000 ~ 0.08 = $862,500. Which does not consider the vacant suite which can generate an estimate $2500-3000 per month, increasing CAP.

Listing Status:
Active
Listing Office:
Next Home Tri-Covenant Realty : 580-699-7653
Listing Agent:
Brenda Spencer-Ragland : 580-512-0591
MLS ID:
169990
  • Appliances: Refrigerator
  • Flooring: ConcreteVinyl Tile
  • A/C: Central Electric
  • Heating: Central Gas
  • Disability Feature: Handicap Access
  • Parking: Parking spaces: 4
  • Roofing: Flat/Rubber
  • General: ConcreteOne
  • Road/Access: City Street
  • County: Comanche
  • Zoning: L1-11B12Original Townsite
  • Utilities: City
  • Water: Public
  • Sewer: Public Sewer

This listing courtesy of Brenda Spencer-Ragland, Next Home Tri-Covenant Realty

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

W

Washington Elementary School

805 NW Columbia Ave, Lawton, OK, 73507

Grades PK-5

0.45 miles away

C

Central Middle School

1201 NW Fort Sill Blvd, Lawton, OK, 73507

Grades 6-8

0.98 miles away

L

Lawton High School

601 NW Fort Sill Blvd, Lawton, OK, 73507

Grades 9-12

0.70 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.