Freestanding Brick Flex
For Sale
$495,000
1620 W Shawnee Bypass, Muskogee, OK 74401
Commercial, Muskogee, OK
Property Size2,150 SF
Lot Size1.29 Acres
Price / SF$230.23
Days on Market168
Property Features for 1620 W Shawnee Bypass
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
I-1
Security features
Security System
Interior features
Mini-Kitchen, Security System-Leased, Smoke Detector
Exterior features
Pole Sign
Fencing
Chain Link
Subdivision
Lincoln Park
Elementary school district
Muskogee - Sch Dist (K5)
Middle school district
Muskogee - Sch Dist (K5)
High school district
Muskogee - Sch Dist (K5)
Directions
From Hwy 69 (32nd St) & Hwy 62 (West Shawnee Bypass), go East on W Shawnee to building on your left (north side of road). Located just east of the intersection of 17th St & W Shawnee.
Standard status
Active
Size
2,150 SF
Lot size
1.29 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOTS 1 THRU 8 BLOCK 12 and LOTS 10 thru 16 BLOCK 5 Lincoln Park
Tax Annual Amount
2028
Legal Description
LOTS 1 THRU 8 BLOCK 12 and LOTS 10 thru 16 BLOCK 5 Lincoln Park
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
fully fenced rear yard
secure yard space
additional unfenced land for expansion, parking, or outdoor storage
Building Details
Year built
1974
Building materials
Brick
Roof type
Composition
Listing Agency:
Interstate Properties, Inc.
(918) 682-1119
Listed By:
Earnie Gilder · License #45081
(918) 781-9197
Added: Mar 26
Changed: Sep 2
Last Checked: Sep 9 at 2:06AM
MLS# 2610702
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 freestanding flex property contains 2,150 square feet in a brick building constructed in 1974. The interior includes a mini-kitchen, central heating and central air, a leased security system, and smoke detectors. A composition roof and chain-link fencing add to the existing improvements.
The 1.288-acre site includes a secured fenced rear yard along with additional land that can support parking, outdoor storage, or future expansion. The property fronts W Shawnee Bypass in Muskogee and carries I-1 zoning. Exterior features include a pole sign, while the combination of building area and excess land provides a range of commercial configurations.
The 1.288-acre site includes a secured fenced rear yard along with additional land that can support parking, outdoor storage, or future expansion. The property fronts W Shawnee Bypass in Muskogee and carries I-1 zoning. Exterior features include a pole sign, while the combination of building area and excess land provides a range of commercial configurations.
Key Highlights
- 2,150‑square‑foot freestanding brick building
- 1.288‑acre commercial site
- I‑1 zoning
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
$21,988
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
4.44%
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%
$439,760
$439.8K
Cap Rate 7%
$314,114
$314.1K
Cap Rate 9%
$244,311
$244.3K
Market Conditions
NOI Build-Up for 2,150 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
$32.3K $15.00/SF
− Vacancy
−$839 −$0.39/SF
EGI
$31.4K $14.61/SF
− OpEx
−$9.4K −$4.38/SF
NOI
$22.0K $10.23/SF
Area
Muskogee County, OK
Vacancy
2.60%
Lease Rate
$15.00 /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%
$439,760
Cap Rate 7%
$314,114
Cap Rate 9%
$244,311
Alternative Uses
Best Use
Retail
$314.1K
$274.9K – $366.5K
NOI $21,988 @ 7.0% cap · market cap 4.44%
Second Best
Flex RnD
$198.5K
$173.7K – $231.5K
NOI $13,892 @ 7.0% cap · market cap 2.81%
Theoretical Best
Office A
$450.0K
$393.8K – $525.0K
NOI $31,501 @ 7.0% cap · market cap 6.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
241
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 74401, OK
16,181
Population
7,818
Households
2.1
Avg Household Size
40
Median Age
16%
College-Educated
85%
High-School Grad
110.9 sq mi
ZIP Area
146
Density / Sq Mi
$39,767
Median Household Income
$32,700
Median Earnings
$827
Median Rent
$122,300
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Flex space - I-1-zoned commercial facility with a fenced rear yard, pole signage, and adaptable interior features.
Where is this flex space located?
The property is located at 1620 W Shawnee Bypass Muskogee, OK.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 2,150‑square‑foot freestanding brick building; 1.288‑acre commercial site; I‑1 zoning
