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    15604 W Black Oak Rd Park Hill, OK 74451

    View on Map
    Sponsored
    For Sale
    $128,500

    LAND - Park Hill, OK

    Lot size:
    0.21 Acres
    Days on Market:
    4
    Last Refresh:
    Mar 19 at 9:06 pm

    Property Features for 15604 W Black Oak Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    R1
    Lot size
    0.21 Acres

    Utilities

    Sewer type
    Septic Tank
    Water source
    Private

    We can help!

    Listing Contact
    Joy Marie Knight
    Joy Marie Knight

    Century 21 Wright Real Estate (918) 456-5288

    Listing agent Joy Marie Knight (918) 316-7266

    Listing date Mar 16, 2026

    MLS# 2609164 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Land Near Lake Tenkiller

    Located in Tenkiller Harbor, this property offers a retreat suitable for weekend getaways and full-time lake living. It features a maintained RV sheltered by a custom carport, a small shop for lake toys, and storage sheds. An unfinished tiny home provides a blank canvas for creating a guest suite, art studio, or cabin. Residents of Tenkiller Harbor enjoy access to amenities managed by a Property Owners Association, including a community swimming pool, a private park with a playground, a basketball court, and a community center. The nearby Army Corps of Engineers boat ramp provides access to Lake Tenkiller, known for its 130 miles of shoreline and rock bluffs, making it a destination for scuba diving, bass and trout fishing, and water sports. The community is golf-cart friendly and offers a patrolled environment. Situated near Vian and Tahlequah, the property is close to local dining, shopping, and the history of the Cherokee Nation. The lot size is 0.207 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Recreation land

    Suggested Use

    Restaurant Gym & Fitness Center Kitchen & Bath Showroom Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Park Hill
    County
    Cherokee
    State
    Oklahoma
    Longitude
    -95.027684
    Latitude
    35.654512

    Nearby Similar for Sale

    • $850,000
      10,200 SF

      Highway Frontage Commercial Building

      Versatile 10,200 SF commercial building on 1.5 acres.
      26486 Highway 82, Park Hill, OK 74451
      View Details
    • $499,900
      4,935 SF

      Park Hill Restaurant Opportunity

      Remodeled restaurant near Tenkiller Lake with high traffic and visibility.
      29301 Highway 82, Park Hill, OK 74451
      View Details
    • $499,900

      Tenkiller Lake Area Restaurant Opportunity

      Established restaurant near Tenkiller Lake with remodeled interior and new kitchen.
      29301 Highway 82, Park Hill, OK 74451
      View Details

    FAQs

    What type of property is this?
    Recreation land - Recreational land near Lake Tenkiller with potential for lake living.
    Where is this recreation land located?
    The property is located at 15604 W Black Oak Rd Park Hill, OK.
    What is the asking price?
    The asking price for this property is $128,500.
    What are key features of this property?
    This property features: - Exclusive access to Tenkiller Harbor community amenities: swimming pool, private park, playground, basketball court, and community center.; - Direct access to Lake Tenkiller, renowned for clear water, scuba diving, fishing, and water sports.; - Ready-to-use RV shelter with custom carport, shop, and storage sheds.
    (918) 456-5288
    Request Owner's contact information
    15604 W Black Oak Rd Park Hill, OK 74451
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    Park Hill, OK 74451
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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
    15604 W Black Oak Rd Park Hill, OK 74451
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    We can help!
    Listing Contact
    Joy Marie Knight
    Joy Marie Knight
    Real Estate License ID: 176026
    (918) 456-5288 (918) 316-7266
    Learn more
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