Wedding Venue on
For Sale
$895,000
102199 S Highway 18, Meeker, OK 74855
Commercial Sale, Meeker, OK
Property Size6,950 SF
Lot Size42.50 Acres
Price / SF$128.78
Days on Market32
Property Features for 102199 S Highway 18
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Agriculture
Standard status
Active
APN
102199SHighway1874855
Size
6,950 SF
Lot size
42.50 Acres
Amenities
remodeled residence
barns and outbuildings
wedding and event venue
pond
Building Details
Year built
1974
Listing Agency:
ERA Courtyard Real Estate · ERA Real Estate
(405) 720-7400
Listed By:
Jennifer Miracle
(405) 650-6003
Added: Jul 20
Changed: Aug 20
Last Checked: Aug 20 at 5:06PM
MLS# 1241023
Copyright © 2026 MLSOK, 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 wedding and event property combines an approximately 4,232-square-foot finished venue with a remodeled 2,718-square-foot residence used in the short-term rental market. Venue improvements include banquet space, a ceremony area, separate bridal and groom’s rooms, a guest lounge, warming kitchen, men’s and women’s restrooms, radiant heat, oversized ceiling fans, multiple entrances, an overhead door, and backup generator power. Multiple barns and outbuildings provide additional infrastructure across the site.
The property encompasses 42.5 acres with open land, mature trees, and a large pond. Agriculture zoning supports the property’s agricultural setting and existing land improvements. The offering may be divided between an improved 27-acre tract and an adjoining 15-acre tract. Access to Meeker, Chandler, Shawnee, I-40, and the turnpike is identified from the property at 102199 S Highway 18, Meeker, OK 74855.
The property encompasses 42.5 acres with open land, mature trees, and a large pond. Agriculture zoning supports the property’s agricultural setting and existing land improvements. The offering may be divided between an improved 27-acre tract and an adjoining 15-acre tract. Access to Meeker, Chandler, Shawnee, I-40, and the turnpike is identified from the property at 102199 S Highway 18, Meeker, OK 74855.
Key Highlights
- 42.5‑acre property with a large pond, mature trees, and open land
- Approximately 4,232‑square‑foot finished wedding and event venue
- Remodeled 2,718‑square‑foot residence established in the short‑term rental market
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
$60,108
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
6.72%
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%
$1,202,160
$1.2M
Cap Rate 7%
$858,686
$858.7K
Cap Rate 9%
$667,867
$667.9K
Market Conditions
NOI Build-Up for 6,950 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
$116.8K $16.80/SF
− Vacancy
−$7.5K −$1.08/SF
EGI
$109.3K $15.72/SF
− OpEx
−$49.2K −$7.08/SF
NOI
$60.1K $8.65/SF
Area
Lincoln County, OK
Vacancy
6.40%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
45.00%
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%
$1,202,160
Cap Rate 7%
$858,686
Cap Rate 9%
$667,867
Alternative Uses
Best Use
Apartment 5plus
$858.7K
$751.4K – $1.00M
NOI $60,108 @ 7.0% cap · market cap 6.72%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.68M
$1.47M – $1.96M
NOI $117,594 @ 7.0% cap · market cap 13.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Explore this area
Business Placement
Demographics for 74855, OK
4,495
Population
1,748
Households
2.6
Avg Household Size
43
Median Age
19%
College-Educated
88%
High-School Grad
105.2 sq mi
ZIP Area
43
Density / Sq Mi
$55,861
Median Household Income
$36,910
Median Earnings
$896
Median Rent
$151,200
Median Home Value
Market
Vacancy Rate% for Multifamily 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?
Wedding venue - Established event property with overnight accommodations, agricultural land, and extensive supporting improvements.
Where is this wedding venue located?
The property is located at 102199 S Highway 18 Meeker, OK.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: 42.5‑acre property with a large pond, mature trees, and open land; Approximately 4,232‑square‑foot finished wedding and event venue; Remodeled 2,718‑square‑foot residence established in the short‑term rental market
