Acreage with Shop
For Sale
$214,900
1350 Rother Road, Union City, OK 73090
Approximately 9.5 acres with an existing shop building, plus rural water available through Canadian County Water Authority.
Property Size2,000 SF
Lot Size9.50 Acres
Price / SF$107.45
Days on Market41
Property Features for 1350 Rother Road
General Information
Standard status
Active
Size
2,000 SF
Lot size
9.50 Acres
Property subtype
Land
Zoning
Other
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$594
Listing Agency:
Cultivate Real Estate
(405) 249-3401
Listed By:
Casey Trejo
(405) 249-3401
Source:
Cultivaterealestateok.idxbroker
Added: Jun 30
Changed: Aug 8
Last Checked: Jul 3 at 3:35PM
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 Cultivate Real Estate
Investment Insights
Based on property information with market context.
This for-sale acreage offers space for homebuilding and day-to-day use, including an existing shop building of approximately 2,000 square feet. The property is positioned to support a ranchette-style setup, with room to build and use the site for storage, hobbies, equipment, or workspace.
The land is located on Rother Road between El Reno and Union City, with access to El Reno, Union City, and I-40. Rural water service is available through the Canadian County Water Authority.
Buyers looking for build-ready acreage may find the combination of open land and an on-site shop helpful for immediate utility as they plan their improvements.
The land is located on Rother Road between El Reno and Union City, with access to El Reno, Union City, and I-40. Rural water service is available through the Canadian County Water Authority.
Buyers looking for build-ready acreage may find the combination of open land and an on-site shop helpful for immediate utility as they plan their improvements.
Key Highlights
- Approximately 9.5‑acre property on Rother Road between El Reno and Union City
- Rural water available through Canadian County Water Authority
- Existing approximately 2,000 SF shop building for storage, hobbies, equipment, or workspace
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
$15,080
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
7.02%
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%
$301,600
$301.6K
Cap Rate 7%
$215,429
$215.4K
Cap Rate 9%
$167,556
$167.6K
Market Conditions
NOI Build-Up for 2,000 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
$19.2K $9.60/SF
− Vacancy
−$1.5K −$0.73/SF
EGI
$17.7K $8.87/SF
− OpEx
−$2.7K −$1.33/SF
NOI
$15.1K $7.54/SF
Area
Canadian County, OK
Vacancy
7.60%
Lease Rate
$9.60 /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%
$301,600
Cap Rate 7%
$215,429
Cap Rate 9%
$167,556
Alternative Uses
Best Use
Warehouse
$215.4K
$188.5K – $251.3K
NOI $15,080 @ 7.0% cap · market cap 7.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$435.5K
$381.1K – $508.1K
NOI $30,484 @ 7.0% cap · market cap 14.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Explore this area
Business Placement
Demographics for 73090, OK
1,008
Population
285
Households
3.5
Avg Household Size
41
Median Age
16%
College-Educated
88%
High-School Grad
50.0 sq mi
ZIP Area
20
Density / Sq Mi
$91,250
Median Household Income
$42,596
Median Earnings
$1,056
Median Rent
$192,500
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?
Residential land & home lot - Approximately 9.5 acres with an existing shop building, plus rural water available through Canadian County Water Authority.
Where is this residential land & home lot located?
The property is located at 1350 Rother Road Union City, OK.
What is the asking price?
The asking price for this property is $214,900.
What are key features of this property?
This property features: Approximately 9.5‑acre property on Rother Road between El Reno and Union City; Rural water available through Canadian County Water Authority; Existing approximately 2,000 SF shop building for storage, hobbies, equipment, or workspace
