Mixed-Use Corner Parcel
For Sale
$350,000
419 N Wood Drive, Okmulgee, OK 74447
COMMERCIAL - Okmulgee, OK
Property Size1,416 SF
Lot Size1.13 Acres
Price / SF$247.18
Days on Market188
Property Features for 419 N Wood Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Interior features
Attic Exhaust Fan, Public Restrooms
Exterior features
Door Sign, Dumpster, Sidewalk
Subdivision
Okmulgee Co Unplatted
Elementary school district
Okmulgee - Sch Dist (91)
Middle school district
Okmulgee - Sch Dist (91)
High school district
Okmulgee - Sch Dist (91)
Directions
Property located on the SE corner of HW 75 and 1st Street, Okmulgee, OK
Standard status
Active
APN
1100-00-007-003-0-002-00
Size
1,416 SF
Lot size
1.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
3 tracts in OT OKMULGEE, Okmulgee Co., OK
Tax Annual Amount
461
Legal Description
3 tracts in OT OKMULGEE, Okmulgee Co., OK
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1964
Flooring type
Vinyl
Building materials
Brick
Roof type
Composition
Listing Agency:
Platinum Realty, LLC.
(888) 220-0988
Listed By:
Nicholas Hutchison · License #158055
(918) 639-4663
Added: Feb 5
Changed: Aug 4
Last Checked: Aug 12 at 1:06AM
MLS# 2551301
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 six-parcel commercial assemblage presents a mixed-use development and redevelopment opportunity anchored by a commercial building and several residential and vacant lots. The sale includes a commercial building at 419 N Wood Dr (former restaurant, 1,416 SF), a residential home at 1022 E 1st St (2 bed/1 bath, 660 SF on a 7,000 SF lot), and a residential structure at 1024 E 1st St (1,556 SF on a 7,000 SF lot; not currently habitable). The remaining parcels consist of vacant lots at 417 N Wood Dr and 1010 E 1st St, plus an adjoining 14,000 SF parcel. All parcels total 48,996 SF and are offered as one package.
Located on a half-block corner at Hwy 75 & E 1st St in Okmulgee, the property is described as having multiple access points and highway exposure. Zoning is Commercial, and all structures are sold AS-IS. Buyer is responsible for verifying zoning, utilities, and property dimensions, and should use caution when accessing structures. All parcels must be sold together as one package.
Located on a half-block corner at Hwy 75 & E 1st St in Okmulgee, the property is described as having multiple access points and highway exposure. Zoning is Commercial, and all structures are sold AS-IS. Buyer is responsible for verifying zoning, utilities, and property dimensions, and should use caution when accessing structures. All parcels must be sold together as one package.
Key Highlights
- Prime corner location at Hwy 75 & E 1st St in a high‑traffic corridor
- Large 6‑parcel assemblage totaling 48,996 SF
- Exceptional flexibility for commercial redevelopment or mixed‑use projects
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
$15,905
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
4.54%
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%
$318,100
$318.1K
Cap Rate 7%
$227,214
$227.2K
Cap Rate 9%
$176,722
$176.7K
Market Conditions
NOI Build-Up for 1,416 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
$22.1K $15.60/SF
− Vacancy
−$884 −$0.62/SF
EGI
$21.2K $14.98/SF
− OpEx
−$5.3K −$3.74/SF
NOI
$15.9K $11.23/SF
Area
Okmulgee County, OK
Vacancy
4.00%
Lease Rate
$15.60 /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%
$318,100
Cap Rate 7%
$227,214
Cap Rate 9%
$176,722
Alternative Uses
Best Use
Specialty Retail
$227.2K
$198.8K – $265.1K
NOI $15,905 @ 7.0% cap · market cap 4.54%
Second Best
Mixed Use
$204.8K
$179.2K – $239.0K
NOI $14,337 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$334.0K
$292.3K – $389.7K
NOI $23,381 @ 7.0% cap · market cap 6.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
43
Businesses Nearby
Explore this area
Business Placement
Demographics for 74447, OK
15,534
Population
7,295
Households
2.1
Avg Household Size
40
Median Age
18%
College-Educated
89%
High-School Grad
231.8 sq mi
ZIP Area
67
Density / Sq Mi
$45,855
Median Household Income
$30,851
Median Earnings
$801
Median Rent
$101,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Six-parcel commercial corner assemblage includes a former restaurant building, two residential structures, and multiple vacant lots sold together AS-IS.
Where is this mixed-use property located?
The property is located at 419 N Wood Drive Okmulgee, OK.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Prime corner location at Hwy 75 & E 1st St in a high‑traffic corridor; Large 6‑parcel assemblage totaling 48,996 SF; Exceptional flexibility for commercial redevelopment or mixed‑use projects
