Established Restaurant with
For Sale
$298,000
828 Eastside Boulevard, Muskogee, OK 74403
Restaurant property with an equipped kitchen, dining area, updated restrooms, drive-through access, and rear storage.
Property Size1,136 SF
Price / SF$262.32
Days on Market28
Property Features for 828 Eastside Boulevard
General Information
Standard status
Active
Size
1,136 SF
Total Parking Spaces
26
Additional Details
Business Included
Yes
Drive-Thru
Yes
Amenities
security system
climate controlled storage building
Building Details
Year Built
1957
Construction
galvanized metal
Listing Agency:
C21/First Choice Realty
(918) 682-5200
Listed By:
Florence Smith · License #200094
Source:
Cheathamrealty
Added: Aug 5
Changed: Aug 31
Last Checked: Aug 31 at 6:39PM
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 C21/First Choice Realty
Investment Insights
Based on property information with market context.
This restaurant property includes a customer dining area, a fully equipped commercial kitchen, and two large updated restrooms. A drive-through supports additional service functionality, while a security system is installed on site. The exterior features galvanized metal construction, and a climate-controlled storage building is located at the rear of the property.
Built in 1957, the property is located at 828 Eastside Boulevard in Muskogee, Oklahoma, within the city’s historic area. E1 zoning is in place. Parking includes 24 spaces plus 2 handicap parking spaces, providing dedicated on-site parking for the restaurant and its customers.
Built in 1957, the property is located at 828 Eastside Boulevard in Muskogee, Oklahoma, within the city’s historic area. E1 zoning is in place. Parking includes 24 spaces plus 2 handicap parking spaces, providing dedicated on-site parking for the restaurant and its customers.
Key Highlights
- Fully equipped commercial kitchen with customer dining area
- Drive‑through service feature included
- Two large updated restrooms
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
$10,911
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
3.66%
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%
$218,220
$218.2K
Cap Rate 7%
$155,871
$155.9K
Cap Rate 9%
$121,233
$121.2K
Market Conditions
NOI Build-Up for 1,136 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
$15.7K $13.80/SF
− Vacancy
−$1.1K −$0.99/SF
EGI
$14.5K $12.81/SF
− OpEx
−$3.6K −$3.20/SF
NOI
$10.9K $9.60/SF
Area
Muskogee County, OK
Vacancy
7.20%
Lease Rate
$13.80 /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%
$218,220
Cap Rate 7%
$155,871
Cap Rate 9%
$121,233
Alternative Uses
Best Use
Specialty Retail
$155.9K
$136.4K – $181.9K
NOI $10,911 @ 7.0% cap · market cap 3.66%
Second Best
Industrial
$81.5K
$71.3K – $95.1K
NOI $5,706 @ 7.0% cap · market cap 1.91%
Theoretical Best
Office A
$237.8K
$208.1K – $277.4K
NOI $16,644 @ 7.0% cap · market cap 5.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
412
Businesses Nearby
15k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 97%
Electronics 3%
Dollar General
Shops & Services
8,051 visits/mo
0.5 miles
Family Dollar
Shops & Services
3,210 visits/mo
0.4 miles
Covington Credit
Shops & Services
1,781 visits/mo
0.4 miles
Quick Mart
Shops & Services
1,641 visits/mo
0.2 miles
Metro by T-Mobile
Electronics
515 visits/mo
0.3 miles
Demographics for 74403, OK
29,419
Population
12,779
Households
2.3
Avg Household Size
40
Median Age
21%
College-Educated
88%
High-School Grad
109.7 sq mi
ZIP Area
268
Density / Sq Mi
$57,171
Median Household Income
$35,732
Median Earnings
$841
Median Rent
$145,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant property with an equipped kitchen, dining area, updated restrooms, drive-through access, and rear storage.
Where is this conventional restaurant located?
The property is located at 828 Eastside Boulevard Muskogee, OK.
What is the asking price?
The asking price for this property is $298,000.
What are key features of this property?
This property features: Fully equipped commercial kitchen with customer dining area; Drive‑through service feature included; Two large updated restrooms
