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

    238 S Oklahoma Avenue Shawnee, OK 74801

    View on Map
    Claim this Listing
    For Sale
    $148,000

    MULTI_FAMILY - Other - Shawnee, OK

    Lot size:
    0.16 Acres
    Added:
    Oct 8, 2025
    Days on Market:
    206
    Last Refresh:
    May 1 at 12:06 am

    Property Features for 238 S Oklahoma Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    4
    Rooms
    Bathroom 2, Bathroom 1, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 4, Bedroom 3, Bathroom 3
    Standard status
    Active
    APN
    238SOklahoma74801
    Lot size
    0.16 Acres

    Building Details

    Year built
    1940
    Floors in Building
    2
    Building materials
    Frame
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Raeanne Jones

    Listing agent Raeanne Jones License #176736

    Listing office C21/Golden Key Realty 816 E Federal, Shawnee, OK

    Listing date Oct 8, 2025

    MLS# 1195702 Listing URL

    Copyright © 2026 MLSOK, 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

    Income-Producing Quadplex Investment Opportunity

    This income-producing property features four units: a triplex and a separate small house, all situated on a single lot. Each unit includes one bedroom and one bathroom, and is equipped with its own kitchen and bathroom. Modern upgrades are present throughout, including granite countertops, updated fixtures, and contemporary finishes. The property is located near shops, dining, and transportation. This configuration offers flexibility to live in one unit and rent the others, or lease all four for maximum returns. This property is located in Shawnee, OK.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Shawnee
    County
    Pottawatomie
    State
    Oklahoma
    Longitude
    -96.918575
    Latitude
    35.324708

    Nearby Similar for Sale

    • $429,900
      7,600 SF

      Shawnee Office Building Investment Opportunity

      Well-maintained commercial office building with stable income and flexible layout.
      1501 N Shawnee Avenue, Shawnee, OK 74804
      View Details
    • $399,000
      9,657 SF

      Downtown Shawnee Commercial Building

      Prime commercial building in downtown Shawnee with high traffic exposure.
      123 W Highland Street, Shawnee, OK 74801
      View Details
    • $130,000
      3,750 SF

      Versatile Commercial Property in Shawnee

      3,750 sq ft flexible space with endless potential.
      115 S Oklahoma Avenue, Shawnee, OK 74801
      View Details
    • $1,500,000
      31,336 SF

      Shawnee Commercial Building on Kennedy

      31,336 SF commercial building with 3.05 acres of land.
      1400 N Kennedy Avenue, Shawnee, OK 74801
      View Details
    • $205,000
      5,443 SF

      Shawnee Commercial Opportunity on Broadway

      Versatile commercial space ideal for retail or restaurant ventures.
      1525 N Broadway Avenue, Shawnee, OK 74804
      View Details
    • $375,000
      2,814 SF

      Remodeled Office Building in Shawnee

      Remodeled office building with flexible spaces and convenient access.
      20 E Dunloup Street, Shawnee, OK 74804
      View Details
    • $250,000
      10,120 SF

      Historic Art Deco Theater

      Oklahoma Historic Registry theater with dual screens and stage.
      125 N Bell Avenue, Shawnee, OK 74801
      View Details
    • $299,000
      4,230 SF

      Adaptable Commercial Space in Shawnee

      Corner lot with flexible space near commercial corridor.
      3803 North Bryan Avenue, Shawnee, OK 74804
      View Details
    • $875,000
      8,241 SF

      Spacious Shawnee Commercial Building on Acreage

      8,241 SF commercial building on 5.75 acres in Shawnee.
      42005 Moccasin Trail, Shawnee, OK 74804
      View Details
    • $70,000
      1,973 SF

      Shawnee Triplex: Investor Special

      Triplex in Shawnee, OK: value-add opportunity with income potential.
      820 W Highland Street, Shawnee, OK 74801
      View Details
    • $15,000

      Commercial Land in Shawnee, OK

      Commercial land suitable for small business or convenience store.
      1304 E Highland Street, Shawnee, OK 74801
      View Details
    • $210,000
      3,120 SF

      Brick Triplex in Shawnee, OK

      Two-story triplex with rental income potential in Shawnee, Oklahoma.
      128 W Ridgewood Street, Shawnee, OK 74801
      View Details

    FAQs

    What type of property is this?
    Quadplex - Updated four-unit property in Shawnee, OK, ideal for investors.
    Where is this quadplex located?
    The property is located at 238 S Oklahoma Avenue Shawnee, OK.
    What is the asking price?
    The asking price for this property is $148,000.
    What are key features of this property?
    This property features: Income‑producing quadplex offering immediate rental income.; Four updated 1‑bedroom, 1‑bathroom units, each with its own kitchen and bathroom.; Modern upgrades including granite countertops, updated fixtures, and contemporary finishes.
    (405) 623-5721
    We can help!
    Listing Contact
    Raeanne Jones
    Real Estate License ID: 176736
    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!