Newly Built Highway
For Sale
$530,000
17983 E 116th Street N, Owasso, OK 74055
Commercial, Owasso, OK
Property Size1,900 SF
Lot Size0.07 Acres
Price / SF$278.95
Days on Market207
Property Features for 17983 E 116th Street N
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Com
Interior features
Public Restrooms
Exterior features
Sidewalk
Elementary school district
Owasso - Sch Dist (11)
Middle school district
Owasso - Sch Dist (11)
High school district
Owasso - Sch Dist (11)
Directions
on 116th St North, just west of 177th E Avenue, next door to dollar general.
Standard status
Active
APN
660098221
Size
1,900 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
Lot 1 Block 1 The Shops.
Tax Annual Amount
233
Legal Description
Lot 1 Block 1 The Shops.
Building Details
Year built
2023
Flooring type
Concrete
Building materials
Brick
Roof type
Metal
Listing Agency:
Keller Williams Premier · Keller Williams Realty
(918) 272-0809
Listed By:
Jackie Shields · License #156798
(918) 798-5581
Added: Feb 6
Changed: Aug 19
Last Checked: Sep 1 at 10:06PM
MLS# 2604304
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.
Built in 2023, this 1,900-square-foot storefront property provides a newly constructed commercial building at 17983 E 116th Street N. The structure features brick exterior construction, a metal roof, concrete flooring, and a public restroom. One bathroom is completed, with plumbing in place for two additional bathrooms.
The property is identified as commercial zoning and fronts Highway 20 in Owasso, Oklahoma. A sidewalk serves the site, while the building’s interior is described as adaptable for retail, office, or specialized commercial use. Approved plans for additional buildings on-site are included, providing documented development plans for the property.
The property is identified as commercial zoning and fronts Highway 20 in Owasso, Oklahoma. A sidewalk serves the site, while the building’s interior is described as adaptable for retail, office, or specialized commercial use. Approved plans for additional buildings on-site are included, providing documented development plans for the property.
Key Highlights
- 1,900‑square‑foot storefront property built in 2023
- Commercial zoning in Owasso, OK
- Brick construction with a metal roof and concrete flooring
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
$19,352
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
3.65%
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%
$387,040
$387.0K
Cap Rate 7%
$276,457
$276.5K
Cap Rate 9%
$215,022
$215.0K
Market Conditions
NOI Build-Up for 1,900 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
$28.5K $15.00/SF
− Vacancy
−$855 −$0.45/SF
EGI
$27.6K $14.55/SF
− OpEx
−$8.3K −$4.36/SF
NOI
$19.4K $10.18/SF
Area
Tulsa County, OK
Vacancy
3.00%
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%
$387,040
Cap Rate 7%
$276,457
Cap Rate 9%
$215,022
Alternative Uses
Best Use
Retail
$276.5K
$241.9K – $322.5K
NOI $19,352 @ 7.0% cap · market cap 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$428.2K
$374.7K – $499.6K
NOI $29,975 @ 7.0% cap · market cap 5.66%
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
24
Businesses Nearby
9k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
8,717 visits/mo
0.4 miles
Demographics for 74055, OK
48,776
Population
19,539
Households
2.5
Avg Household Size
37
Median Age
39%
College-Educated
95%
High-School Grad
50.9 sq mi
ZIP Area
958
Density / Sq Mi
$86,897
Median Household Income
$46,956
Median Earnings
$1,218
Median Rent
$261,400
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?
Storefront property - Commercial-zoned building offers concrete flooring, a public restroom, and sidewalk access.
Where is this storefront property located?
The property is located at 17983 E 116th Street N Owasso, OK.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: 1,900‑square‑foot storefront property built in 2023; Commercial zoning in Owasso, OK; Brick construction with a metal roof and concrete flooring
