Industrial Office Warehouse
For Sale
$910,000
2601 W Shawnee St, Muskogee, OK 74401
Office-warehouse with multiple grade-level doors, outdoor storage, ample parking, and highway corridor exposure.
Property Size13,750 SF
Lot Size1.84 Acres
Price / SF$66.18
Days on Market49
Property Features for 2601 W Shawnee St
General Information
Standard status
Active
Size
13,750 SF
Lot size
1.84 Acres
Property subtype
Industrial
Building Details
Building Size
13,750 SF
Year Built
1984
Year Renovated
2022
Listing Agency:
McGraw Commercial Properties
(918) 853-7337
Listed By:
Neil Dailey, SIOR · License #184596
(918) 853-7337
Source:
Mcgrawcp
Added: Jun 25
Changed: Aug 10
Last Checked: Aug 11 at 5:17AM
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 McGraw Commercial Properties
Investment Insights
Based on property information with market context.
This industrial office-warehouse includes approximately 13,750 SF on a 1.84-acre site. The improvements feature multiple grade-level loading doors, outdoor storage capability, and ample parking with truck circulation. Renovations were completed in 2022.
The property provides highway corridor exposure along Highway 62. Public remarks also note billboard ground lease income associated with the site.
The facility’s combination of office space and warehouse functionality, along with its loading access and outdoor storage, supports tenants looking for a practical yard-and-door configuration on a highway-exposed lot.
The property provides highway corridor exposure along Highway 62. Public remarks also note billboard ground lease income associated with the site.
The facility’s combination of office space and warehouse functionality, along with its loading access and outdoor storage, supports tenants looking for a practical yard-and-door configuration on a highway-exposed lot.
Key Highlights
- 13,750 SF office‑warehouse on 1.84 acres, built in 1984
- Multiple grade‑level loading doors for warehouse access
- Outdoor storage capability on the 1.84‑acre site
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
$69,069
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
7.59%
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%
$1,381,380
$1.4M
Cap Rate 7%
$986,700
$986.7K
Cap Rate 9%
$767,433
$767.4K
Market Conditions
NOI Build-Up for 13,750 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
$107.3K $7.80/SF
− Vacancy
−$8.6K −$0.62/SF
EGI
$98.7K $7.18/SF
− OpEx
−$29.6K −$2.15/SF
NOI
$69.1K $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%
$1,381,380
Cap Rate 7%
$986,700
Cap Rate 9%
$767,433
Alternative Uses
Best Use
Flex RnD
$1.27M
$1.11M – $1.48M
NOI $88,846 @ 7.0% cap · market cap 9.76%
Second Best
Warehouse
$1.20M
$1.05M – $1.40M
NOI $83,870 @ 7.0% cap · market cap 9.22%
Theoretical Best
Office A
$2.88M
$2.52M – $3.36M
NOI $201,461 @ 7.0% cap · market cap 22.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
294
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 74401, OK
16,181
Population
7,818
Households
2.1
Avg Household Size
40
Median Age
16%
College-Educated
85%
High-School Grad
110.9 sq mi
ZIP Area
146
Density / Sq Mi
$39,767
Median Household Income
$32,700
Median Earnings
$827
Median Rent
$122,300
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Office-warehouse with multiple grade-level doors, outdoor storage, ample parking, and highway corridor exposure.
Where is this flex space located?
The property is located at 2601 W Shawnee St Muskogee, OK.
What is the asking price?
The asking price for this property is $910,000.
What are key features of this property?
This property features: 13,750 SF office‑warehouse on 1.84 acres, built in 1984; Multiple grade‑level loading doors for warehouse access; Outdoor storage capability on the 1.84‑acre site
