About This Home
This 0-bedroom, -bathroom commercial at 102 SW 11th St in Lawton, OK is listed for $875,000 ($40 per sqft). Built in 1972, the home offers 22,080 sqft of living space on a 0.86 acres lot.
Key Features
- Built in 1972
- 0.86 acre lot
Property Details
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 $312/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, HVAC and fully updated sprinkler system and lighting throughout 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.
Monthly Cost Estimate
$4,680/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
102 SW 11th St
Lawton, OK 73501
Questions & Answers
This 0-bedroom, null-bathroom commercial at 102 SW 11th St is listed at $875,000 ($40/sqft). The estimated monthly payment is $4,679 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.
Key features include: Built in 1972, 0.86 acre lot.
This property is listed by Brenda Spencer-Ragland and can be reached at 5806997653.