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$ 895,000
Est. payment /mo
Active
102 SW 11th St Lawton, OK 73501
135 Baths
22,080 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 22,080 sqft
Price per Sqft $40
MLS Listing ID 169990
Year Built 1972
Annual Tax Amount $8,431
Lot Size 0.861 Acres
Lot Dimensions 37,500
Property Sub-Type Commercial
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.
Location
State OK
County Comanche
Area Original Townsi
Zoning C-5 General Comm
Interior
Heating Central Gas
Cooling Central Electric
Flooring Concrete, Vinyl Tile
Fireplace No
Appliance Refrigerator
Exterior
Roof Type Flat/Rubber
Building
Story 1
Sewer Public Sewer
Water Public
Others
Acceptable Financing Conventional, Cash
Listing Terms Conventional, Cash
Listed byNext Home Tri-Covenant Realty
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