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

    1115 S Morgan Road Mustang, OK 73064

    View on Map
    Claim this Listing
    New
    For Sale
    $2,347,800

    LAND - Mustang, OK

    Lot size:
    78.26 Acres
    Added:
    Apr 30, 2026
    Days on Market:
    6
    Last Refresh:
    May 5 at 7:06 pm

    Property Features for 1115 S Morgan Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Agriculture
    Standard status
    Active
    APN
    1115SMorgan73064
    Lot size
    78.26 Acres

    We can help!

    Listing Contact
    Brian Woodward

    Listing agent Brian Woodward

    Listing office RE/MAX Energy Real Estate 335 S Mustang Rd. Suite G, Yukon, OK

    Listing date Apr 30, 2026

    MLS# 1226960 Listing URL

    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.

    Overview

    78.26 Acres Inside City Limits

    This property presents a rare opportunity to acquire 78.26 acres (m/l) situated within city limits. The land is suitable for a new housing development or a large family estate. The land features grazing pastures and scattered trees. Being inside the city facilitates connecting to utilities and planning a neighborhood. The property is located where the city is growing. The land is positioned as a bridge between convenience and wide-open space. This tract is located in Mustang, Oklahoma, in Canadian County.
    Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Mustang
    County
    Canadian
    State
    Oklahoma
    Longitude
    -97.693455
    Latitude
    35.38217

    Nearby Similar for Sale

    • $925,000

      Commercial Land in Mustang, OK

      4 acres of commercial land zoned for self-storage units.
      1060 S Sara Road, Mustang, OK 73064
      View Details
    • $125,000

      Mustang OK Land For Sale

      1+ acre lots in Mustang city limits, no HOA!
      E Lily Lane, Mustang, OK 73064
      View Details
    • $120,000

      Mustang OK Land For Sale

      One-acre residential lots in Mustang, OK, with no HOA.
      E Lily Lane, Mustang, OK 73064
      View Details
    • $125,000

      Mustang OK Land For Sale

      Over 1 acre residential lot in Mustang city limits.
      E Lily Lane, Mustang, OK 73064
      View Details
    • $600,000
      3,000 SF

      Highway Frontage Commercial Property

      3,000 SF building on 1/2 acre with highway frontage.
      1608 E State Highway 152, Mustang, OK 73064
      View Details
    • $125,000

      Mustang, OK Acreage Lot

      One-acre residential lot in Mustang, OK, city limits.
      E Lily Lane, Mustang, OK 73064
      View Details
    • $150,000

      Mustang Land with Existing Barn

      Spacious 1+ acre lot with barn in Mustang, OK.
      E Lily Lane, Mustang, OK 73064
      View Details
    • $125,000

      Mustang OK Acreage Lot

      Over one acre residential lot in Mustang city limits.
      E Lily Lane, Mustang, OK 73064
      View Details
    • $125,000

      Mustang OK Land For Sale

      Over 1 acre residential lot in Mustang city limits.
      E Lily Lane, Mustang, OK 73064
      View Details
    • $322,000
      1,800 SF

      Turn-Key Investment Property Package

      Two newer homes, leased through May 2027, ideal for investors.
      1313 N Beale Terrace, Mustang, OK 73064
      View Details
    • $125,000

      Mustang, OK Land For Sale

      Residential land totaling 1.45 acres in Mustang, Oklahoma.
      611 S Lakehoma Place Drive, Mustang, OK 73064
      View Details
    • $119,500

      Residential Land in Mustang, OK

      1.63 acres of residential land in Mustang, Oklahoma.
      531 S Monocoupe Lane, Mustang, OK 73064
      View Details

    FAQs

    What type of property is this?
    Agricultural land / Farmland - Rare opportunity: 78.26 acres within Mustang city limits.
    Where is this agricultural land / farmland located?
    The property is located at 1115 S Morgan Road Mustang, OK.
    What is the asking price?
    The asking price for this property is $2,347,800.
    What are key features of this property?
    This property features: Large 78.26 acre property within city limits.; Ideal for housing development or large family estate.; Located in a growing area, bridging convenience and open space.
    (405) 204-3000
    We can help!
    Listing Contact
    Brian Woodward
    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
    1115 S Morgan Road, Mustang, OK 73064
    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!