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    513 E Schley Street Vian, OK 74962

    View on Map
    For Sale
    $275,000

    COMMERCIAL - Vian, OK

    Property size:
    560 SF
    Lot size:
    0.35 Acres
    Added:
    Jul 15, 2025
    Days on Market:
    266
    Last Refresh:
    Apr 6 at 9:06 pm

    Property Features for 513 E Schley Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    comm
    Interior features
    Equipment Remarks, High Speed Internet, Public Restrooms
    Exterior features
    Pole Sign, Prof Landscaped, Professional Landscaped
    Standard status
    Active
    APN
    0315-00-003-00A-0-000-00
    Size
    560 SF
    Lot size
    0.35 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    LOT A, BLOCK 3, JIMMIE ROGERS #2, TOWN OF VIAN see file for full legal
    Tax Annual Amount
    1901

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1960
    Flooring type
    Laminate, Tile
    Roof type
    Metal

    We can help!

    Listing Contact
    Amy Stovall

    Listing agent Amy Stovall License #155426

    Listing office Tenkiller Lake Realty.com, LLC 19058 W Snake Creek Rd, Cookson, OK

    Listing date Jul 15, 2025

    MLS# 2529194

    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.

    Overview

    Turnkey Restaurant Opportunity on Hwy 64

    This turnkey restaurant opportunity is located on Hwy 64 in Vian, Oklahoma. The property, a fully operating business, benefits from high visibility and easy access, enhanced by a landscaped circle drive featuring decorative rocks from nearby Tenkiller Lake. The property includes an updated driveway, a handicap-accessible ramp with a side entrance, and both indoor and outdoor dining options. Recent updates include new decking, exterior paint, and a new bathroom. The interior features 9 tables, including 3 six-tops and 6 four-tops, along with updated shiplap and decorative wall coverings. The space is fully furnished and decorated. An umbrella-covered outdoor seating area provides additional guest space and seasonal flexibility. A walk-up carry-out window supports dine-in, takeout, and catering services. The property is equipped with a metal roof, an internet Square POS system, and all necessary kitchen and dining equipment, including updated refrigeration. Currently serving Blue Bell Ice Cream, the location has a long-established history of food service dating back to the 1950s. The property is situated on a 0.353-acre lot. The building size is 560 square feet. This commercial property is located near Lake Tenkiller recreation.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    John's Hamburgers and Ice ... Grocery & Convenience Store Bubba's Dairy Bar Bar & Pub

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Building Supply Dental Office Hair Salon Big Box & Wholesale Store Auto Repair Shop Gym & Fitness Center Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Vian
    County
    Sequoyah
    State
    Oklahoma
    Longitude
    -94.960013
    Latitude
    35.495532

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    FAQs

    What type of property is this?
    Turn key restaurant - Fully operating restaurant near Lake Tenkiller in Vian, Oklahoma.
    Where is this turn key restaurant located?
    The property is located at 513 E Schley Street Vian, OK.
    What is the asking price?
    The asking price for this property is $275,000.
    What are key features of this property?
    This property features: Turnkey, fully operating restaurant business, ready for immediate operation.; Prime location on Hwy 64 with high visibility and easy access near Lake Tenkiller.; Includes all necessary kitchen and dining equipment, updated refrigeration, and Square POS system.
    (918) 457-3200
    We can help!
    Listing Contact
    Amy Stovall
    Real Estate License ID: 155426
    Learn More
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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
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