638 Cedar StPerry, OK 73077

Property Details for 638 Cedar St

Year built

1918

Lot size

0.22 AC

Property size (Sq ft)

1,775 SF

Property type

Retail space

APN

1000-00-00B-018-0-001-00

APU

10000000B018000100

Description

This exceptional 1,775 square foot commercial property, situated in Perry, Oklahoma's historic downtown square, presents a unique investment opportunity. Built in 1918 and meticulously restored, this building boasts captivating character with 16-foot ceilings, original steel ceilings, and rewired vintage fluorescent industrial shop fixtures. The recent renovations include a new 25-year TPO roof and decking, along with durable concrete floors. The layout features two office spaces, convenient upstairs storage, and an interior bathroom. Modern comforts are balanced with historical charm. The property also benefits from central heating and air conditioning (CHA) and convenient alley access with carport parking. The high visibility location on the south side of the square enjoys significant foot traffic, with an Oklahoma Department of Transportation (ODOT) traffic count of 3,100 vehicles daily. Ample public parking is readily available on the charming historic square. Currently leased at market value, this property offers a strong return on investment and the potential for future appreciation. The combination of historical significance, modern updates, and prime location makes this a truly exceptional commercial offering.

• CAP approach

  CAP return

  Valuation

  6%

  $423,579

  6.5%

  $390,996

  7%

  $363,068

• Comparable approach

  Method

  Valuation

  Relative Method

  $538,191

  Geo Method

  $538,191

• Alternative Use

  Use

  Valuation

  Residential

  $329,820

  Hospitality

  $302,113

  Educational

  $251,355

  Medical

  $259,999

  Retail

  $390,996

Location Insight

City

Perry

County

Noble

State

Oklahoma

Latitude

36.2857

Longitude

-97.2879

Property Tax & Assessments

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