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    The Largest CRE Database in the US with Over 1 Million Listings

    185 Miller Dr McAlester, OK 74501

    Sponsored
    For Sale
    $1,299,000

    Farm/Estate - McAlester, OK

    Type:Farm
    Lot size:
    72.39 Acres
    Days on Market:
    184
    Last Refresh:
    Jan 27 at 5:06 pm

    Property Features for 185 Miller Dr

    General Information

    Property type
    Farm
    Property subtype
    Farm
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Family Room, Living Room
    Bedrooms
    3
    Bathrooms
    4
    Parking features
    Garage
    Interior features
    Walk-in Closet
    Lot size
    72.39 Acres

    Utilities

    Water front features
    Wflake, Waterfront
    Water front
    1

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Jeff Henry

    Cross Timbers Land LLC (918) 287-1996

    Listing agent Jeff Henry (918) 287-1996

    Listing date Jul 28, 2025

    MLS# 11538017 Listing URL

    Copyright © 2026 My State MLS. 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

    Turnkey Ranch Retreat Near Arena

    This 72-acre ranch retreat features improved pastures and rolling terrain. The property is located minutes from the Lightning C Arena, offering access to roping and barrel racing venues while maintaining privacy. The ranch is situated 15 minutes southeast of McAlester, OK, and 15 minutes south of Lake Eufaula, and 1 hour and 45 minutes from Tulsa, OK. The property includes an 8-acre lake. The barndominium has 3 bedrooms and 3.5 bathrooms. The home features a spacious living and dining area with vaulted ceilings, a dedicated office, oversized entertainment room, and a climate-controlled storage room. A one-car garage is connected to a 3,000 sq ft insulated shop. The property provides a mix of native and introduced grasses suitable for rotational grazing, hay production, or year-round equine use. Perimeter and cross fencing are in place. The property features covered horse stalls with adjacent tack and feed storage, pipe cattle pens, and multiple turnout options with water access. Minerals sell as surface only.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ranches

    Suggested Use

    Electrical Service Cafe & Coffee Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    McAlester
    County
    Pittsburg
    State
    Oklahoma
    Longitude
    -95.606892
    Latitude
    34.885091

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    FAQs

    What type of property is this?
    Ranch - 72-acre ranch retreat with barndominium, lake, and equestrian facilities.
    Where is this ranch located?
    The property is located at 185 Miller Dr McAlester, OK.
    What is the asking price?
    The asking price for this property is $1,299,000.
    What are key features of this property?
    This property features: - 72± acre ranch featuring improved pastures and a beautiful 8-acre lake.; - Enjoy comfortable living in the 3 bed, 3.5 bath barndominium with a spacious 3,000 sq. ft. insulated shop.; - Conveniently located near the renowned Lightning C Arena.
    (918) 287-1996
    Request Owner's contact information
    185 Miller Dr McAlester, OK 74501
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    McAlester, OK 74501
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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
    185 Miller Dr McAlester, OK 74501
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    We can help!
    Listing Contact
    Jeff Henry
    (918) 287-1996
    Learn more
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