Building Details

Building Size 2,379 SF

Year Built 1998

Listing Agency: Coldwell Banker Select j***@gmail.com Show Phone

Listed By: John Hall · License #147570 Show Phone

Source: Eufaulaproperties

Added: Nov 5, 2025 Changed: Aug 25 Last Checked: Aug 25 at 8:21AM

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Investment Insights

Based on property information with market context.

Located on Old Highway 69 in Oktaha, this property presents a business opportunity. The property includes a 61-foot by 39-foot shop building, previously used as a feed store and tire shop. This one-story building features a car lift and 12-foot by 12-foot shop doors, facilitating access for large vehicles or equipment. An additional all-metal building on the property measures 24 feet by 24 feet and includes a 16-foot by 24-foot covered awning, suitable for workspace or storage. The property is situated 10 miles south of Muskogee.

Key Highlights

• Located on busy Old Highway 69 in Oktaha, offering high visibility and accessibility.
• 61’ x 39’ shop building previously used as a feed store and tire shop, suitable for various business ventures.
• Includes a car lift within the main shop building.

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

$11,950

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

8.54%

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%

$239,000 $239.0K

Cap Rate 7%

$170,714 $170.7K

Cap Rate 9%

$132,778 $132.8K

Market Conditions

NOI Build-Up for 2,379 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

$18.6K $7.80/SF

− Vacancy

−$1.5K −$0.62/SF

EGI

$17.1K $7.18/SF

− OpEx

−$5.1K −$2.15/SF

NOI

$12.0K $5.02/SF

Area

Muskogee County, OK

Vacancy

8.00%

Lease Rate

$7.80 /SF/Yr

Expense Ratio

30.00%

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%

$239,000

Cap Rate 7%

$170,714

Cap Rate 9%

$132,778

Alternative Uses

Best Use

Retail

$347.6K

$304.1K – $405.5K (±1% cap)

NOI $24,330 @ 7.0% cap · market cap 17.38%

Second Best

Industrial

$170.7K

$149.4K – $199.2K (±1% cap)

NOI $11,950 @ 7.0% cap · market cap 8.54%

Theoretical Best

Office A

$497.9K

$435.7K – $580.9K (±1% cap)

NOI $34,856 @ 7.0% cap · market cap 24.90%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Auto shops

Suggested Use

Top Pick Building Supply Storage Facility Travel Agency

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

20

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 74450, OK

1,624

Population

733

Households

2.2

Avg Household Size

45

Median Age

14%

College-Educated

89%

High-School Grad

66.6 sq mi

ZIP Area

24

Density / Sq Mi

$50,083

Median Household Income

$41,218

Median Earnings

$857

Median Rent

$116,400

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Auto shop - Shop building on Old Highway 69, Oktaha. Great business opportunity.

Where is this auto shop located?

The property is located at 12031 Oktaha Road Oktaha, OK.

What is the asking price?

The asking price for this property is $140,000.

What are key features of this property?

This property features: Located on busy Old Highway 69 in Oktaha, offering high visibility and accessibility.; 61’ x 39’ shop building previously used as a feed store and tire shop, suitable for various business ventures.; Includes a car lift within the main shop building.