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    115156 Highway 48 Okemah, OK 74859

    View on Map
    Sponsored
    For Sale
    $4,800,000

    COMMERCIAL - Okemah, OK

    Property size:
    1,500 SF
    Lot size:
    31.16 Acres
    Days on Market:
    333
    Last Refresh:
    Mar 21 at 7:06 pm

    Property Features for 115156 Highway 48

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    COM
    APN
    0000-29-011-009-0-009-00
    Size
    1,500 SF
    Lot size
    31.16 Acres

    Utilities

    Sewer type
    Septic Tank

    Building Details

    Year built
    1975
    Building materials
    Steel
    Roof type
    Metal

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    Listing Contact
    Bill Lee

    Chinowth & Cohen Realtors

    Listing agent Bill Lee

    Listing date Apr 23, 2025

    MLS# 2517072

    Copyright © 2026 MLS Technology, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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    Property Insight Report

    Overview

    Prime Commercial Development Opportunity

    This offering presents a commercial development opportunity in Okemah, Oklahoma, featuring two commercial lots with frontage on Highway 40 and Highway 48. The first lot spans 10 acres and is ready for development, suited for retail, hospitality, or office spaces. The second parcel encompasses approximately 21 acres and includes two steel warehouse structures, suitable for storage, manufacturing, or distribution. The existing infrastructure offers utility for businesses seeking operational efficiency. Both parcels benefit from positioning along Highway 40 and Highway 48, ensuring visibility and accessibility. The property is located in Okfuskee County, with a total lot size of 31.16 acres. The existing structures provide 1500 square feet of space. The location has high traffic counts, enhancing the appeal for businesses. This opportunity is suited for entrepreneurs and developers looking to capitalize on Okemah's economic landscape.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Okemah
    County
    Okfuskee
    State
    Oklahoma
    Longitude
    -96.40594
    Latitude
    35.339089

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    FAQs

    What type of property is this?
    Commercial land - Two commercial lots with highway frontage and warehouse structures.
    Where is this commercial land located?
    The property is located at 115156 Highway 48 Okemah, OK.
    What is the asking price?
    The asking price for this property is $4,800,000.
    What are key features of this property?
    This property features: - Prime commercial location with frontage on both Highway 40 and Highway 48.; - High traffic counts on both highways, ensuring maximum visibility.; - Two parcels totaling approximately 31 acres.
    (918) 625-3518
    Request Owner's contact information
    115156 Highway 48 Okemah, OK 74859
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    Okemah, OK 74859
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    115156 Highway 48 Okemah, OK 74859
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    We can help!
    Listing Contact
    Bill Lee
    Real Estate License ID: 151261
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