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    377056 E 1040 Rd Okemah, OK 74859

    Sponsored
    For Sale
    $497,500

    Farm/Estate, Barn - Okemah, OK

    Type:Farm
    Property size:
    1,760 SF
    Lot size:
    54.68 Acres
    Days on Market:
    17
    Last Refresh:
    Jan 20 at 12:06 pm

    Property Features for 377056 E 1040 Rd

    General Information

    Property type
    Farm
    Property subtype
    Farm
    Standard status
    Active
    Zoning
    300
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Den, Laundry, Living Room
    Bedrooms
    2
    Bathrooms
    2
    APN
    0000-18-012-010-0-004-00
    Parking features
    Garage, Garage - Attached
    Interior features
    Laundry, Walk-in Closet
    Fireplace
    1
    Appliances
    Dishwasher, Dryer, Garbage Disposer, Refrigerator, Washer
    Size
    1,760 SF
    Lot size
    54.68 Acres

    Utilities

    Heating system
    Electric (Heating), Fireplace(s), Forced Air, Propane (Heating)
    Cooling system
    Central Air
    Water front features
    Waterfront
    Water front
    1

    Building Details

    Year built
    2021
    Year renovated
    2021
    Building materials
    Wood Siding
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Robert Angelo

    KirkAngel Inc. (405) 208-7802

    Listing agent Robert Angelo (405) 208-7802

    Listing date Jan 4, 2026

    MLS# 11494795 Listing URL

    Copyright © 2026 My State MLS. 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

    Property Insight Report

    Overview

    Okemah Homestead with Barndominium and Acreage

    This 54.68-acre homestead near Okemah Lake features a well-built, heavily-insulated barndominium with 2 bedrooms, 2 bathrooms, and 1760 sqft of living space. The barndominium's interior was recently finished and includes a wood-burning fireplace, tankless hot water heater, and propane tank. All appliances convey with the property, including a washer/dryer and John Deere zero-turn mower. Designed for both comfort and functionality, this ranch is ideal for equestrians and outdoorsmen. Horse lovers will appreciate the corrals, round pen, tack room, and pasture. Bird owners will be thrilled with the predator-proof barn, which can easily be converted into a bunkhouse or stalls. Red buildings are climate-controlled and equipped with rural water, city electricity, and a propane tank. Multiple RV hookups are present on the property, along with stock tank heaters and frost-free water hydrants throughout the acreage. The property consists of the West Field, the Residence, East Pasture, and a small sliver split off by the main road. It is fully fenced with post and wire and includes a pond and seasonal creek. The land is home to whitetail deer and wild turkeys, with a permanent deer stand in the West Field, making it a hunter's paradise.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Hunting land

    Suggested Use

    Convenience Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Okemah
    County
    Okfuskee
    State
    Oklahoma
    Longitude
    -96.296178
    Latitude
    35.509204

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    FAQs

    What type of property is this?
    Farm - 54.68-acre Oklahoma homestead with barndominium, ideal for equestrians and outdoorsmen.
    Where is this farm located?
    The property is located at 377056 E 1040 Rd Okemah, OK.
    What is the asking price?
    The asking price for this property is $497,500.
    What are key features of this property?
    This property features: - 54.68-acre homestead ideal for equestrians and outdoorsmen, featuring pastures, corrals, and a round pen; - **Well-built, heavily-insulated 1760 sqft Barndominium (2 Bed, 2 Bath) with recently finished interior and all appliances included**; - Equipped for livestock with predator-proof barn, stock tank heaters, and frost-free water hydrants throughout the property
    (405) 208-7802
    Request Owner's contact information
    377056 E 1040 Rd Okemah, OK 74859
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    Okemah, OK 74859
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    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
    377056 E 1040 Rd Okemah, OK 74859
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    Listing Contact
    Robert Angelo
    (405) 208-7802
    Learn more
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