Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    216 S Locust St Nowata, OK 74048

    View on Map
    Sponsored
    Pending
    Contact for pricing

    LAND - Nowata, OK

    Lot size:
    0.16 Acres
    Days on Market:
    27
    Last Refresh:
    Mar 14 at 12:06 am

    Property Features for 216 S Locust St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Pending
    Zoning
    RES-NEC
    APN
    1001-01-040-004-0-002-00
    Lot size
    0.16 Acres

    We can help!

    Listing Contact
    Addison Sunday

    Keller Williams Realty Owasso (918) 272-0809

    Listing agent Addison Sunday (918) 549-5585

    Listing date Feb 15, 2026

    MLS# 2543743

    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

    Overview

    Residential Lot in Nowata, OK

    This open residential lot is located on South Locust Street in Nowata, Oklahoma, situated between established homes. The property is suitable for a new construction project or investment. It includes a storm shelter. The location provides convenient access to nearby amenities, including local restaurants, a grocery store, and a pharmacy.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Nowata
    County
    Nowata
    State
    Oklahoma
    Longitude
    -95.630692
    Latitude
    36.698492

    Nearby Similar for Sale

    • $165,000
      4,000 SF

      Nowata Commercial Building on US-169

      Commercial building with highway frontage, ideal for restaurant or retail.
      123 Ash St, Nowata, OK 74048
      View Details
    • $775,000
      3,200 SF

      Nowata County Ranch with Barndominium

      100-acre ranch equipped for living, livestock, and recreation.
      100AC N 4080 Rd, Nowata, OK 74048
      View Details
    • $975,000
      3,200 SF

      Nowata Ranch with Barndominium

      146-acre ranch featuring a barndominium, shop, and equestrian facilities.
      4080 N Rd, Nowata, OK 74083
      View Details
    • $325,000
      2,000 SF

      Nowata Commercial Corner Lot

      Corner lot with shop and office space in Nowata.
      347 N Ash St, Nowata, OK 74048
      View Details
    • $207,000
      46.87 Acres

      Pasture Land Near Lake Oologah

      46.86 acres of pasture land with pond near lake.
      N 416 Rd, Nowata, OK 74048
      View Details
    • New
      $180,000
      Pending

      40 Acres Land Nowata, OK

      40 acres of land, partially fenced, between Nowata and Bartlesville.
      002 230 Rd, Nowata, OK 74048
      View Details
    • $149,500
      Pending

      Highway Frontage Mixed-Use Property

      Spacious corner lot with duplex, garage, and former restaurant.
      536 N Ash St, Nowata, OK 74048
      View Details
    • $350,000
      2,000 SF

      Nowata Retail Space - Hwy 169

      High-visibility retail space, Nowata, OK.
      347 Ash St, Nowata, OK 74048
      View Details
    • $155,900
      3,000 SF

      High-Traffic Mixed-Use Nowata Property

      Prime Hwy 169 location, 3000 sq ft, 1-acre lot. High rental income potential.
      536 Ash St, Nowata, OK 74048
      View Details
    • $225,000
      5,356 SF

      Nowata Commercial Building - Huge Potential

      Versatile 5,356 sq ft space, prime location.
      126 Maple St, Nowata, OK 74048
      View Details
    • $99,500
      2,760 SF

      Nowata Commercial/Residential Gem

      High-traffic location, versatile space, great investment!
      621 Delaware Ave, Nowata, OK 74048
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Open residential lot ready for new build or investment.
    Where is this residential land & home lot located?
    The property is located at 216 S Locust St Nowata, OK.
    What is the asking price?
    The asking price for this property is $10,000.
    What are key features of this property?
    This property features: - Open residential lot ready for new build or investment.; - Convenient access to local restaurants, grocery store, and pharmacy.; - Includes a storm shelter.
    (918) 549-5585
    Request Owner's contact information
    216 S Locust St Nowata, OK 74048
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    216 S Locust St
    Nowata, OK 74048
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    216 S Locust St Nowata, OK 74048
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Addison Sunday
    Real Estate License ID: 211856
    (918) 549-5585 (918) 272-0809
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!