Renovated Historic Downtown
For Sale
$195,000
131 N Lee, Fort Gibson, OK 74434
Updated systems support boutique retail, office, studio, or specialty business use.
Property Size1,610 SF
Price / SF$121.12
Days on Market35
Property Features for 131 N Lee
General Information
Standard status
Active
Size
1,610 SF
Total Parking Spaces
3
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1900
Construction
fire treated structural wood
Listing Agency:
CG Realty Group LLC
(888) 220-0988
Listed By:
Amber Quillman
Source:
Alloverok
Added: Jul 29
Changed: Aug 30
Last Checked: Aug 30 at 8:14PM
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 CG Realty Group LLC
Investment Insights
Based on property information with market context.
This distinctive downtown storefront in Fort Gibson combines historic character with substantial modernization. The building has been fully renovated to meet current city code requirements, with fire-treated structural wood, a newer HVAC system approximately one year old, and a newer roof carrying a 25 year transferable warranty issued in 2019. The property is fully electric and connected to city water.
Located at 131 N Lee in the downtown district, the property benefits from approximately 5 to 6 city-hosted events annually that support local foot traffic and visibility. On-site parking accommodates approximately 2 to 3 vehicles, a practical feature for a downtown commercial setting. The space is suited to boutique retail, office, studio, or specialty business use.
Located at 131 N Lee in the downtown district, the property benefits from approximately 5 to 6 city-hosted events annually that support local foot traffic and visibility. On-site parking accommodates approximately 2 to 3 vehicles, a practical feature for a downtown commercial setting. The space is suited to boutique retail, office, studio, or specialty business use.
Key Highlights
- Fully renovated storefront meeting current city code requirements
- Newer HVAC system approximately one year old
- Newer roof with a 25 year transferable warranty issued in 2019
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
$17,475
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
8.96%
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%
$349,500
$349.5K
Cap Rate 7%
$249,643
$249.6K
Cap Rate 9%
$194,167
$194.2K
Market Conditions
NOI Build-Up for 1,610 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
$29.0K $18.00/SF
− Vacancy
−$5.7K −$3.53/SF
EGI
$23.3K $14.47/SF
− OpEx
−$5.8K −$3.62/SF
NOI
$17.5K $10.85/SF
Area
Muskogee County, OK
Vacancy
19.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$349,500
Cap Rate 7%
$249,643
Cap Rate 9%
$194,167
Alternative Uses
Best Use
Office B
$249.6K
$218.4K – $291.3K
NOI $17,475 @ 7.0% cap · market cap 8.96%
Second Best
Retail
$235.2K
$205.8K – $274.4K
NOI $16,465 @ 7.0% cap · market cap 8.44%
Theoretical Best
Office A
$337.0K
$294.9K – $393.2K
NOI $23,589 @ 7.0% cap · market cap 12.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
153
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 74434, OK
8,889
Population
4,015
Households
2.2
Avg Household Size
40
Median Age
32%
College-Educated
94%
High-School Grad
123.2 sq mi
ZIP Area
72
Density / Sq Mi
$72,454
Median Household Income
$44,019
Median Earnings
$787
Median Rent
$181,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- A Flower Can — 910 S Lee St, Fort Gibson, OK 74434
Frequently Asked Questions
What type of property is this?
Storefront property - Updated systems support boutique retail, office, studio, or specialty business use.
Where is this storefront property located?
The property is located at 131 N Lee Fort Gibson, OK.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Fully renovated storefront meeting current city code requirements; Newer HVAC system approximately one year old; Newer roof with a 25 year transferable warranty issued in 2019
