Multifamily Property with NNN
For Sale
$995,000
908 E 12th Ave, Stillwater, OK 74074
Flexible multifamily layout with shared gathering areas, offices, kitchen facilities, outdoor space, and an active triple-net lease.
Property Size6,449 SF
Price / SF$154.29
Days on Market28
Property Features for 908 E 12th Ave
General Information
Standard status
Active
Size
6,449 SF
Property subtype
Multi-Family
Building Details
Year Built
1987
Listing Agency:
Sage Sotheby's Realty
Listed By:
Sierra Snowden
(405) 242-4004
Source:
Sarahflemingestates
Added: Sep 9
Changed: Sep 25
Last Checked: Oct 5 at 10:41PM
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 Sage Sotheby's Realty
Investment Insights
Based on property information with market context.
This 6,449-SF multifamily property was built in 1987 on approximately 2 acres and is currently occupied under a triple-net lease. The 20-bedroom, 10-bathroom configuration includes expansive common areas, multiple offices, large gathering rooms, a commercial-style kitchen area, and substantial parking. Outdoor improvements include a patio, garden areas, open green space, mature trees, and flower beds.
The property is located at 908 E 12th Ave in Stillwater, Oklahoma. Recent work includes installation of a new suppression system and additional improvements addressing current code requirements. The lease provides a 7.25% cap rate, a 3% annual rent escalator, and approximately 3 years remaining. Future use, zoning, licensing, occupancy requirements, and permitted applications are subject to buyer verification.
The property is located at 908 E 12th Ave in Stillwater, Oklahoma. Recent work includes installation of a new suppression system and additional improvements addressing current code requirements. The lease provides a 7.25% cap rate, a 3% annual rent escalator, and approximately 3 years remaining. Future use, zoning, licensing, occupancy requirements, and permitted applications are subject to buyer verification.
Key Highlights
- 6,449 SF multifamily property on approximately 2 acres
- 20 bedrooms and 10 bathrooms with expansive common areas
- Triple‑net lease with 7.25% cap rate
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,991
Cap Rate
4.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$919,820
$919.8K
Cap Rate 7%
$657,014
$657.0K
Cap Rate 9%
$511,011
$511.0K
Market Conditions
NOI Build-Up for 6,449 SF
Gross rent
$93.6K $14.52/SF
− Vacancy
−$10.0K −$1.55/SF
EGI
$83.6K $12.97/SF
− OpEx
−$37.6K −$5.83/SF
NOI
$46.0K $7.13/SF
Area
Payne County, OK
Vacancy
10.70%
Lease Rate
$14.52 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$919,820
Cap Rate 7%
$657,014
Cap Rate 9%
$511,011
Alternative Uses
Best Use
Apartment 5plus
$657.0K
$574.9K – $766.5K
NOI $45,991 @ 7.0% cap · market cap 4.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.59M
$1.39M – $1.85M
NOI $111,012 @ 7.0% cap · market cap 11.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,032
Businesses Nearby
Explore this area
Business Placement
Demographics for 74074, OK
32,326
Population
14,328
Households
2.3
Avg Household Size
29
Median Age
51%
College-Educated
96%
High-School Grad
127.4 sq mi
ZIP Area
254
Density / Sq Mi
$50,245
Median Household Income
$26,971
Median Earnings
$965
Median Rent
$247,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Flexible multifamily layout with shared gathering areas, offices, kitchen facilities, outdoor space, and an active triple-net lease.
Where is this multifamily property located?
The property is located at 908 E 12th Ave Stillwater, OK.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 6,449 SF multifamily property on approximately 2 acres; 20 bedrooms and 10 bathrooms with expansive common areas; Triple‑net lease with 7.25% cap rate
