Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    451403 Pheasant CIR lot 56 Afton, OK 74331

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    LAND - Other Ok, OK

    Lot size:
    0.66 Acres
    Added:
    Feb 2, 2026
    Days on Market:
    93
    Last Refresh:
    May 6 at 12:06 am

    Property Features for 451403 Pheasant CIR lot 56

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    210016817
    Lot size
    0.66 Acres

    Taxes and HOA fees

    Tax Description
    COVES BIRD ISLAND LOT 56 BLOCK 2, Delaware County, OK
    Tax Annual Amount
    113

    Utilities

    Sewer type
    Other

    We can help!

    Listing Contact
    Matthew Ford

    Listing agent Matthew Ford

    Listing office Keller Williams Market Pro Realty Branch 3105 NE 11th St Ste 5, Bentonville, OK

    Listing date Feb 2, 2026

    MLS# 1086743 Listing URL

    Copyright © 2026 Western River Valley Board of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Lake-View Lot in The Coves

    This lake-view lot is located in The Coves at Grand Lake and offers approximately 0.65 acres in a peaceful, wildlife-rich setting. The desirable homesite allows a direct view of the water and is suitable for a custom build or long-term investment in one of Grand Lake's premier subdivisions. Owner financing is available with 10% down, 10% interest, and a 15-year note.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Restaurant Real Estate Agency Auto Parts Store Hotel & Motel Department Store Storage Facility Travel Agency Bed & Breakfast Restaurant

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

    Location Insight

    • Map
    • Local Demand
    City
    Afton
    County
    Ottawa
    State
    Oklahoma
    Longitude
    -94.9651
    Latitude
    36.526457

    Nearby Similar for Sale

    • $165,000
      9,200 SF

      Route 66 Investment Opportunity

      Former museum with multiple buildings on historic Route 66.
      12 S 1st Street, Afton, OK 74331
      View Details
    • $140,000
      3,440 SF

      Afton Commercial Property on Route 66

      Over one acre, 3,092 sq ft building, Route 66 frontage.
      603 1st SW, Afton, OK 74354
      View Details
    • $850,000
      2,268 SF

      Organic Layer Farm For Sale

      Profitable organic layer farm near Grand Lake with home.
      55454 E Hwy 59, Other OK, OK 74331
      View Details
    • $10,000

      Residential Lot in Gated Community

      Build-ready lot with access to community amenities.
      Seminole Street, Afton, OK 74331
      View Details
    • $389,000

      Waterfront Land in Afton, OK

      Waterfront lot with shoreline and Grand Lake views.
      E 317th Road lot: 2R, Afton, OK 74331
      View Details
    • $1,800,000

      Afton Land with Highway Frontage

      19 acre tract with highway frontage near Bernice State Park.
      Hwy 85A, Afton, OK 74331
      View Details
    • $595,000

      St. Andrews Harbor Land

      Multiple lots in St. Andrews Harbor on Monkey Island.
      30397 S 567 Road, Afton, OK 74331
      View Details
    • $1,800,000

      Afton Land with Highway Frontage

      19-acre tract near Bernice State Park, suitable for development.
      HWY 85A, Afton, OK 74331
      View Details
    • $25,000

      Vacant Lot in Gated Community

      Residential lot in a gated community with lake access.
      Blue Grouse Lane, Afton, OK 74331
      View Details
    • $25,000

      Vacant Lot in Gated Community

      0.7 acre vacant lot in upscale gated community.
      Blue Grouse Lane, Afton, OK 74331
      View Details
    • $19,900

      Lake-View Lot in The Coves

      0.65 acre lake-view lot in The Coves at Grand Lake.
      451403 Pheasant Circle lot: 56, Other OK, OK 74331
      View Details
    • $140,000
      3,092 SF

      Afton Warehouse on Route 66

      Warehouse on over an acre with Route 66 frontage.
      Afton, OK 74331
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - 0.65 acre lake-view lot in The Coves at Grand Lake.
    Where is this waterfront land located?
    The property is located at 451403 Pheasant CIR lot 56 Afton, OK.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Direct lake views from the property; Located in The Coves at Grand Lake, a premier subdivision; Owner financing available with affordable monthly payments ($428.77)
    (479) 657-6797
    We can help!
    Listing Contact
    Matthew Ford
    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

    Thank You for Inquiry
    451403 Pheasant CIR lot: 56, Other Ok, OK 74331
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!