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102 SW 11th St Lawton, OK 73501

  • $895,000
  • 135 Full Baths
  • 22,080 sq ft
  • Year Built: 1972
  • Commercial
  • Listing #169990

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 Details

Price$895,000
Bathrooms135 Full Baths
Year Built1972
Property TypeCommercial
Listing #169990
StatusActive
Listing TypeFor Sale

Interior Features

Square Feet22,080

Community Information for Lawton, OK 73501

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Community overview information from Home Junction Inc.

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