Salon-Configured Spa & Wellness
For Sale
$224,900
1831 N Highway 66 Route, Catoosa, OK 74015
COMMERCIAL - Catoosa, OK
Property Size1,074 SF
Lot Size0.28 Acres
Price / SF$209.40
Days on Market159
Property Features for 1831 N Highway 66 Route
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COM'L/IND
Interior features
9' Ceiling Height, Public Restrooms, Smoke Detector, Window Treatment
Exterior features
Door Sign
Elementary school district
Catoosa - Sch Dist (28)
Middle school district
Catoosa - Sch Dist (28)
High school district
Catoosa - Sch Dist (28)
Directions
On route 66 in Catoosa across from strip mall and adjacent to elementary school and pharmacy
Standard status
Active
APN
660025489
Size
1,074 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
See legal in documents tab
Tax Annual Amount
687
Legal Description
See legal in documents tab
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1987
Flooring type
Tile
Building materials
Frame
Roof type
Composition
Listing Agency:
OUROK Realty
(918) 770-1073
Listed By:
Christi Plett · License #206891
(918) 639-9923
Added: Mar 6
Changed: Aug 4
Last Checked: Aug 12 at 9:06PM
MLS# 2606878
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 1,074-square-foot commercial property occupies 0.284 acres and is currently operating as a salon. The 1987 building features a frame construction system, tile flooring, 9' ceilings, public restrooms, window treatments, central heating, and central air. A septic tank serves the property, and the roof is composition shingle.
Located at 1831 N Highway 66 Route in Catoosa, the property is positioned along a heavily traveled corridor with an average of 15,800 vehicles passing daily. It is within a mile of The Blue Whale and The Hard Rock Hotel and Casino and near the Tulsa city limits. COM'L/IND zoning provides the stated land-use designation for the site.
Located at 1831 N Highway 66 Route in Catoosa, the property is positioned along a heavily traveled corridor with an average of 15,800 vehicles passing daily. It is within a mile of The Blue Whale and The Hard Rock Hotel and Casino and near the Tulsa city limits. COM'L/IND zoning provides the stated land-use designation for the site.
Key Highlights
- 1,074 SF commercial building on a 0.284‑acre parcel
- Currently operating as a salon
- Average daily exposure to 15,800 vehicles
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
$15,074
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
6.70%
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%
$301,480
$301.5K
Cap Rate 7%
$215,343
$215.3K
Cap Rate 9%
$167,489
$167.5K
Market Conditions
NOI Build-Up for 1,074 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
$22.8K $21.24/SF
− Vacancy
−$1.3K −$1.19/SF
EGI
$21.5K $20.05/SF
− OpEx
−$6.5K −$6.02/SF
NOI
$15.1K $14.04/SF
Area
Rogers County, OK
Vacancy
5.60%
Lease Rate
$21.24 /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%
$301,480
Cap Rate 7%
$215,343
Cap Rate 9%
$167,489
Alternative Uses
Best Use
Retail
$215.3K
$188.4K – $251.2K
NOI $15,074 @ 7.0% cap · market cap 6.70%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$269.0K
$235.4K – $313.8K
NOI $18,829 @ 7.0% cap · market cap 8.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
15,800 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 74015, OK
8,270
Population
3,578
Households
2.3
Avg Household Size
41
Median Age
22%
College-Educated
88%
High-School Grad
60.3 sq mi
ZIP Area
137
Density / Sq Mi
$72,688
Median Household Income
$44,256
Median Earnings
$1,052
Median Rent
$211,300
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?
Spa & wellness property - Existing salon space with central HVAC, tile flooring, public restrooms, and direct exposure along North Highway 66.
Where is this spa & wellness property located?
The property is located at 1831 N Highway 66 Route Catoosa, OK.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: 1,074 SF commercial building on a 0.284‑acre parcel; Currently operating as a salon; Average daily exposure to 15,800 vehicles
