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

    23524 E 873 Road Park Hill, OK 74451

    View on Map
    Claim this Listing
    Pending
    $35,000

    LAND - Park Hill, OK

    Lot size:
    5.18 Acres
    Added:
    Jun 20, 2025
    Days on Market:
    315
    Last Refresh:
    Apr 30 at 7:06 am

    Property Features for 23524 E 873 Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Pending
    Lot size
    5.18 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    CHEROKEE CO. T15N R23E S29 containing 5 AC M/L
    Tax Annual Amount
    40

    We can help!

    Listing Contact
    Joy Marie Knight
    Joy Marie Knight

    Listing agent Joy Marie Knight License #176026

    Listing office C21/Wright Real Estate 103 Mimosa Lane, Tahlequah, OK

    Listing date Jun 20, 2025

    MLS# 2526021 Listing URL

    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.

    Overview

    Land Near Lake Tenkiller

    This secluded 5.18-acre lot is located near Lake Tenkiller. The acreage is suitable for building a home or enjoying nature. Elk Creek Marina and public access docks are a short drive away. The property is located in Park Hill, Oklahoma.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Building Supply Storage Facility Grocery & Convenience Store Grocery & Convenience Store Bed & Breakfast Pet Store Restaurant Butcher

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

    Location Insight

    • Map
    • Local Demand
    City
    Park Hill
    County
    Cherokee
    State
    Oklahoma
    Longitude
    -94.88478
    Latitude
    35.753017

    Nearby Similar for Sale

    • $474,000

      Turnkey Restaurant Opportunity on Lake

      Fully renovated restaurant with a rich history on Lake Tenkiller.
      29301 Highway 82, Other OK, OK 74451
      View Details
    • $850,000
      10,200 SF

      Highway Frontage Commercial Building

      Versatile 10,200 SF commercial building on 1.5 acres.
      26486 Highway 82, Park Hill, OK 74451
      View Details
    • $875,000

      Highway Frontage Development Opportunity

      35 acres with highway frontage, ideal for commercial development.
      Highway 82, Park Hill, OK 74451
      View Details
    • $650,000

      75 Acres with River Frontage

      Rare 75-acre tract with river and lake frontage.
      E 855 Road, Park Hill, OK 74451
      View Details
    • $200,000

      Park Hill Land For Sale

      6.08+/- acre property with highway frontage near the lake.
      Hwy 82, Park Hill, OK 74451
      View Details
    • $128,500

      Land Near Lake Tenkiller

      Recreational land near Lake Tenkiller with potential for lake living.
      15604 W Black Oak Road, Park Hill, OK 74451
      View Details
    • $63,900

      Land Near Lake Tenkiller

      6.07 acres of land close to Lake Tenkiller.
      29863 S Qualls Road, Park Hill, OK 74451
      View Details
    • $11,900

      Park Hill Land Opportunity

      Half-acre lot near lake access in Park Hill, Oklahoma.
      31200 S Deer Run Road, Park Hill, OK 74451
      View Details
    • $39,500

      Park Hill Lakefront Lot

      Spacious 0.96-acre lot in gated community with lake access.
      15856 W Dogwood Road, Park Hill, OK 74451
      View Details
    • $149,500

      Park Hill Land Near Lake

      0.94 acre lot in gated community with lake access.
      15901 W Forest Road, Park Hill, OK 74451
      View Details
    • $174,500

      Lake View Lot in Gated Community

      3.17 acre lake view lot in gated community.
      36313 S Red Oak Road, Park Hill, OK 74451
      View Details
    • $79,500

      Park Hill Lakefront Lot

      1.07 acre lot in gated community with lake access.
      15857 W Dogwood Road, Park Hill, OK 74451
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 5+ acre lot near Lake Tenkiller, build your dream home!
    Where is this residential land & home lot located?
    The property is located at 23524 E 873 Road Park Hill, OK.
    What is the asking price?
    The asking price for this property is $35,000.
    What are key features of this property?
    This property features: Over 5 Acres of Land; Close proximity to Lake Tenkiller; Secluded acreage ideal for building a home
    (918) 456-5288
    We can help!
    Listing Contact
    Joy Marie Knight
    Joy Marie Knight
    Real Estate License ID: 176026
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!