Two-Story Flex Building With
For Sale
$265,000
2619 Bowman Road, Mannford, OK 74044
Vacant Land, Mannford, OK
Property Size6,000 SF
Lot Size10.91 Acres
Price / SF$44.17
Days on Market52
Property Features for 2619 Bowman Road
General Information
Property type
Land
Property subtype
Other
Zoning
Rural Ag
Subdivision
Mannford Rural
Lot features
Cul De Sac, Farm or Ranch, Livestock Allowed
Elementary school district
Mannford - Sch Dist (46)
Middle school district
Mannford - Sch Dist (46)
High school district
Mannford - Sch Dist (46)
Directions
From downtown head West on Hwy 51. Turn Left on Old Hwy 48, Turn Left on W 31st St. S, Turn Left on Bowman Rd. The road ends and the property is on the Left.
Standard status
Active
Lot size
10.91 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
17-19-9 NW NW SE & BEG 600 N OF SE COR SW NW SE TH W660 TH N60 TH E660 TH S660 TO POB; Mannford Rural
Tax Annual Amount
676
Legal Description
17-19-9 NW NW SE & BEG 600 N OF SE COR SW NW SE TH W660 TH N60 TH E660 TH S660 TO POB; Mannford Rural
Utilities
Sewer type
Septic Tank
Amenities
spray foam insulation
tall ceilings
durable concrete floors
two garage doors
pull-through access
loft area
two enclosed rooms
bathroom
two points of entry
gravel parking area
Listing Agency:
Chinowth & Cohen
(918) 419-2333
Listed By:
Amy Spess · License #171874
(918) 392-0900
Added: Jul 6
Changed: Aug 20
Last Checked: Aug 26 at 1:06AM
MLS# 2623930
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 two-story flex property includes a 60 x 50 concrete shop with tall ceilings, concrete floors, and approximately 1/2-inch spray foam insulation. Two garage doors provide pull-through movement for vehicles, trailers, and equipment. The main level includes a bathroom, while a loft and two enclosed rooms can serve as storage, office, parts, or secure-use areas.
The property has two access points, including connections from 31st Street and Highway 51. A substantial gravel parking and work area accommodates trucks, trailers, heavy machinery, and commercial vehicles. Rural Ag zoning and the open shop configuration support uses identified in the property information, including automotive repair, fabrication, welding, construction, and equipment storage. The address is 2619 Bowman Road in Mannford, Oklahoma, and the site uses a septic tank.
The property has two access points, including connections from 31st Street and Highway 51. A substantial gravel parking and work area accommodates trucks, trailers, heavy machinery, and commercial vehicles. Rural Ag zoning and the open shop configuration support uses identified in the property information, including automotive repair, fabrication, welding, construction, and equipment storage. The address is 2619 Bowman Road in Mannford, Oklahoma, and the site uses a septic tank.
Key Highlights
- 60 x 50 two‑story concrete shop
- Approximately 1/2‑inch spray foam insulation
- Two garage doors configured for pull‑through access
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
$18,487
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
6.98%
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%
$369,740
$369.7K
Cap Rate 7%
$264,100
$264.1K
Cap Rate 9%
$205,411
$205.4K
Market Conditions
NOI Build-Up for 6,000 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
$28.8K $4.80/SF
− Vacancy
−$2.4K −$0.40/SF
EGI
$26.4K $4.40/SF
− OpEx
−$7.9K −$1.32/SF
NOI
$18.5K $3.08/SF
Area
Creek County, OK
Vacancy
8.30%
Lease Rate
$4.80 /SF/Yr
Expense Ratio
30.00%
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%
$369,740
Cap Rate 7%
$264,100
Cap Rate 9%
$205,411
Alternative Uses
Best Use
Warehouse
$500.4K
$437.8K – $583.8K
NOI $35,025 @ 7.0% cap · market cap 13.22%
Second Best
Flex RnD
$443.2K
$387.8K – $517.1K
NOI $31,024 @ 7.0% cap · market cap 11.71%
Theoretical Best
Office A
$1.48M
$1.29M – $1.72M
NOI $103,283 @ 7.0% cap · market cap 38.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
27
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 74044, OK
7,363
Population
3,369
Households
2.2
Avg Household Size
42
Median Age
14%
College-Educated
91%
High-School Grad
87.7 sq mi
ZIP Area
84
Density / Sq Mi
$66,972
Median Household Income
$45,871
Median Earnings
$926
Median Rent
$176,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Concrete construction, tall ceilings, pull-through access, and a gravel work area support varied commercial operations.
Where is this flex space located?
The property is located at 2619 Bowman Road Mannford, OK.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: 60 x 50 two‑story concrete shop; Approximately 1/2‑inch spray foam insulation; Two garage doors configured for pull‑through access
