Medical Office Building with Treatment
For Sale
$495,000
2602 Chandler Road, Muskogee, OK 74403
Commercial, Muskogee, OK
Property Size3,736 SF
Lot Size1.14 Acres
Price / SF$132.49
Days on Market122
Property Features for 2602 Chandler Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C2
Security features
Security System
Interior features
Mini-Kitchen, Security System-Owned
Exterior features
Door Sign, Pole Sign
Subdivision
Muskogee Co Unplatted
Elementary school district
Muskogee - Sch Dist (K5)
Middle school district
Muskogee - Sch Dist (K5)
High school district
Muskogee - Sch Dist (K5)
Directions
From Chandler Road & York Street, go East on Chandler Rd to property on your left (north). Building sits across from Charlie's Chicken East.
Standard status
Active
APN
510014040
Size
3,736 SF
Lot size
1.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
T15N R19E S30 FARMLAND IN MUSKOGEE W135.5 S367 SE SW
Tax Annual Amount
3016
Legal Description
T15N R19E S30 FARMLAND IN MUSKOGEE W135.5 S367 SE SW
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
10 treatment rooms
3 bathrooms (1 full)
lobby
4 offices
full kitchen
washer & dryer connections
Building Details
Year built
1960
Building materials
Brick
Roof type
Composition
Listing Agency:
Interstate Properties, Inc.
(918) 682-1119
Listed By:
Earnie Gilder · License #45081
(918) 781-9197
Added: May 11
Changed: Sep 2
Last Checked: Sep 9 at 2:06AM
MLS# 2617276
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 3,736-square-foot medical office property occupies 1.137 acres and was built in 1960. The interior includes 10 treatment rooms, 4 private offices, 3 bathrooms including 1 full bathroom, a lobby, and a full kitchen. Washer and dryer connections are also provided. Brick construction, a composition roof installed less than 10 years ago, and an owned security system add to the physical improvements.
Mechanical systems include 3 HVAC units with gas heat, central cooling, and 2 water heaters—1 gas and 1 electric. The site is zoned C2 and offers plenty of parking, along with pole and door signage. Located at 2602 Chandler Road on the east side of Muskogee, the property is configured for medical office use.
Mechanical systems include 3 HVAC units with gas heat, central cooling, and 2 water heaters—1 gas and 1 electric. The site is zoned C2 and offers plenty of parking, along with pole and door signage. Located at 2602 Chandler Road on the east side of Muskogee, the property is configured for medical office use.
Key Highlights
- 3,736 SF medical office building on 1.137 acres
- 10 treatment rooms, 4 offices, lobby, kitchen, and 3 bathrooms
- C2 zoning with plenty of parking
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
$40,551
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
8.19%
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%
$811,020
$811.0K
Cap Rate 7%
$579,300
$579.3K
Cap Rate 9%
$450,567
$450.6K
Market Conditions
NOI Build-Up for 3,736 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
$67.2K $18.00/SF
− Vacancy
−$13.2K −$3.53/SF
EGI
$54.1K $14.47/SF
− OpEx
−$13.5K −$3.62/SF
NOI
$40.6K $10.85/SF
Area
Muskogee County, OK
Vacancy
19.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$811,020
Cap Rate 7%
$579,300
Cap Rate 9%
$450,567
Alternative Uses
Best Use
Office B
$579.3K
$506.9K – $675.9K
NOI $40,551 @ 7.0% cap · market cap 8.19%
Second Best
Healthcare Medical
$498.7K
$436.4K – $581.8K
NOI $34,908 @ 7.0% cap · market cap 7.05%
Theoretical Best
Office A
$782.0K
$684.2K – $912.3K
NOI $54,739 @ 7.0% cap · market cap 11.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
352
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 74403, OK
29,419
Population
12,779
Households
2.3
Avg Household Size
40
Median Age
21%
College-Educated
88%
High-School Grad
109.7 sq mi
ZIP Area
268
Density / Sq Mi
$57,171
Median Household Income
$35,732
Median Earnings
$841
Median Rent
$145,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Dr. Janet S. Blake, DVM — 2604 chandler rd, muskogee, ok 74403
Frequently Asked Questions
What type of property is this?
Medical Office Space - C2-zoned facility with medical office configuration, dedicated offices, and on-site parking.
Where is this medical office space located?
The property is located at 2602 Chandler Road Muskogee, OK.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 3,736 SF medical office building on 1.137 acres; 10 treatment rooms, 4 offices, lobby, kitchen, and 3 bathrooms; C2 zoning with plenty of parking
