402 Main StAda, OK 74820

Property Details for 402 Main St

Year built

1958

Lot size

0.31 AC

Property size (Sq ft)

7,325 SF

Property type

Auto shops

APN

0305-00-00R-007-0-000-00

APU

03050000R007000000

Description

This exceptional 17,331 square foot commercial building, situated on a 0.48-acre lot at the prominent corner of Main and Cherry Streets in Ada, Oklahoma, presents a unique investment opportunity. Its prime downtown location offers unparalleled visibility and accessibility. The building boasts a rich history, having served as a wholesale food center, feed and seed store, and furniture store, showcasing its adaptability and enduring structure. Architectural details include impressive 14-foot ceilings, a robust cement slab foundation, substantial wooden beams, and a durable exterior constructed from a combination of cinder block and brick. Currently, the property is being sold "as-is" and requires repairs, presenting a significant value-add opportunity for a discerning buyer. The C2 zoning allows for a wide range of commercial uses, making it ideal for adaptive reuse and creative entrepreneurs. This is a chance to acquire a piece of Ada's history and revitalize a landmark property into a thriving commercial enterprise. The substantial size and unique character of this building offer endless possibilities for a variety of businesses. The property's location in the heart of downtown Ada ensures high foot traffic and visibility, making it an attractive investment for those seeking a high-impact commercial space.

• CAP approach

  CAP return

  Valuation

  6%

  $1,622,212

  6.5%

  $1,497,426

  7%

  $1,390,467

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,220,987

  Geo Method

  $2,220,987

• Alternative Use

  Use

  Valuation

  Residential

  $1,263,135

  Hospitality

  $1,157,025

  Educational

  $962,631

  Medical

  $995,738

  Retail

  $1,497,426

Location Insight

City

Ada

County

Pontotoc

State

Oklahoma

Latitude

34.7748

Longitude

-96.6733

CBSA code

10220

CBSA name

ADA, OK MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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