Freestanding Auto Shop with Car
For Sale
$130,000
12031 Oktaha Road, Oktaha, OK 74450
Commercial, Oktaha, OK
Property Size2,379 SF
Lot Size0.96 Acres
Price / SF$54.64
Days on Market294
Property Features for 12031 Oktaha Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
nec
Interior features
9' Ceiling Height, Public Restrooms
Subdivision
Muskogee Co Unplatted
Elementary school district
Oktaha - Sch Dist (K6)
Middle school district
Oktaha - Sch Dist (K6)
High school district
Oktaha - Sch Dist (K6)
Directions
from old hwy 69 and new hwy 69in Oktaha go north on 1/2 old hwy 69 on the west side .
Standard status
Active
APN
510025094
Size
2,379 SF
Lot size
0.96 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
T13N R17E S27 beg at intersection on N sec li & wely R/W HWY #69 W 292 s 276 to wrly R/W of hwy 69 nerly al R/W to POB
Tax Annual Amount
168
Legal Description
T13N R17E S27 beg at intersection on N sec li & wely R/W HWY #69 W 292 s 276 to wrly R/W of hwy 69 nerly al R/W to POB
Utilities
Sewer type
Septic Tank
Amenities
car lift
12' x 12' shop doors
covered awning
Building Details
Year built
1998
Building materials
Steel
Roof type
Metal
Listing Agency:
Coldwell Banker Select
(918) 458-5888
Listed By:
John Hall · License #147570
(918) 758-9220
Added: Nov 5, 2025
Changed: Aug 24
Last Checked: Aug 26 at 7:06AM
MLS# 2546091
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.
Investment Insights
Based on property information with market context.
This one-story automotive property includes a 61' x 39' steel shop building with a car lift and 12' x 12' shop doors. The building also provides 9' ceiling height and public restrooms, with a metal roof and septic tank service. Its documented prior uses include a feed store and tire shop.
A separate 24' x 24' all-metal structure adds auxiliary building area, while a 16' x 24' covered awning extends the available workspace or storage area. The property encompasses 0.963 acres at 12031 Oktaha Road in Oktaha, Oklahoma, approximately 10 miles south of Muskogee. Zoning is identified as nec, and the improvements date to 1998.
A separate 24' x 24' all-metal structure adds auxiliary building area, while a 16' x 24' covered awning extends the available workspace or storage area. The property encompasses 0.963 acres at 12031 Oktaha Road in Oktaha, Oklahoma, approximately 10 miles south of Muskogee. Zoning is identified as nec, and the improvements date to 1998.
Key Highlights
- 61' x 39' one‑story steel shop building
- Car lift included
- 12' x 12' shop doors accommodate large vehicles or equipment
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$11,950
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.19%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$239,000
$239.0K
Cap Rate 7%
$170,714
$170.7K
Cap Rate 9%
$132,778
$132.8K
Market Conditions
NOI Build-Up for 2,379 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$18.6K $7.80/SF
− Vacancy
−$1.5K −$0.62/SF
EGI
$17.1K $7.18/SF
− OpEx
−$5.1K −$2.15/SF
NOI
$12.0K $5.02/SF
Area
Muskogee County, OK
Vacancy
8.00%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$239,000
Cap Rate 7%
$170,714
Cap Rate 9%
$132,778
Alternative Uses
Best Use
Retail
$347.6K
$304.1K – $405.5K
NOI $24,330 @ 7.0% cap · market cap 18.72%
Second Best
Industrial
$170.7K
$149.4K – $199.2K
NOI $11,950 @ 7.0% cap · market cap 9.19%
Theoretical Best
Office A
$497.9K
$435.7K – $580.9K
NOI $34,856 @ 7.0% cap · market cap 26.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 74450, OK
1,624
Population
733
Households
2.2
Avg Household Size
45
Median Age
14%
College-Educated
89%
High-School Grad
66.6 sq mi
ZIP Area
24
Density / Sq Mi
$50,083
Median Household Income
$41,218
Median Earnings
$857
Median Rent
$116,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Auto shop - Steel construction, a secondary metal building, and covered workspace support automotive service or storage functions.
Where is this auto shop located?
The property is located at 12031 Oktaha Road Oktaha, OK.
What is the asking price?
The asking price for this property is $130,000.
What are key features of this property?
This property features: 61' x 39' one‑story steel shop building; Car lift included; 12' x 12' shop doors accommodate large vehicles or equipment
