Wagoner Warehouse with Updated
For Sale
Contact for pricing
2111 Hwy 51, Wagoner, OK
12,204 +/- sq ft warehouse with offices and mini-kitchen.
Property Size12,204 SF
Lot Size0.97 Acres
Price / SF$65.55
Days on Market795
Property Features for 2111 Hwy 51
General Information
Standard status
Active
Size
12,204 SF
Lot size
0.97 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Chinowth & Cohen - Bixby
(918) 710-1704
Listed By:
Leland Chinowth · License #149463
(918) 808-0390
Source:
Moodyscre
Added: Jul 3, 2024
Changed: Aug 24
Last Checked: Sep 4 at 5:07PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Chinowth & Cohen - Bixby
Investment Insights
Based on property information with market context.
This 12,204 +/- square foot warehouse property in Wagoner, OK, features updated HVAC systems and foam insulation. The layout includes private offices separated from the warehouse area and a mini-kitchen. A new chain-link fence has been installed around the property.
Key Highlights
- 12,204 +/- Sq feet of total space
- 3 Updated HVAC Systems
- Foam insulated warehouse
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
$71,240
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
8.91%
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%
$1,424,800
$1.4M
Cap Rate 7%
$1,017,714
$1.0M
Cap Rate 9%
$791,556
$791.6K
Market Conditions
NOI Build-Up for 12,204 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
$86.4K $7.08/SF
− Vacancy
−$2.6K −$0.21/SF
EGI
$83.8K $6.87/SF
− OpEx
−$12.6K −$1.03/SF
NOI
$71.2K $5.84/SF
Area
Wagoner County, OK
Vacancy
3.00%
Lease Rate
$7.08 /SF/Yr
Expense Ratio
15.00%
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%
$1,424,800
Cap Rate 7%
$1,017,714
Cap Rate 9%
$791,556
Alternative Uses
Best Use
Warehouse
$1.02M
$890.5K – $1.19M
NOI $71,240 @ 7.0% cap · market cap 8.91%
Second Best
Industrial
$838.1K
$733.4K – $977.8K
NOI $58,669 @ 7.0% cap · market cap 7.33%
Theoretical Best
Office A
$2.88M
$2.52M – $3.36M
NOI $201,512 @ 7.0% cap · market cap 25.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Consolidated Grain and Barge Co. — 72861 S 220 Rd, Wagoner, OK 74467
Frequently Asked Questions
What type of property is this?
Warehouse - 12,204 +/- sq ft warehouse with offices and mini-kitchen.
Where is this warehouse located?
The property is located at 2111 Hwy 51 Wagoner, OK.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 12,204 +/- Sq feet of total space; 3 Updated HVAC Systems; Foam insulated warehouse
