Mini Storage & Development
For Sale
$599,900
14620 S 417th East Avenue, Coweta, OK 74429
7.82+/- acre property with mini storage and development potential.
Property Size6,000 SF
Lot Size7.82 Acres
Price / SF$99.98
Days on Market161
Property Features for 14620 S 417th East Avenue
General Information
Standard status
Active
Size
6,000 SF
Lot size
7.82 Acres
Property subtype
Commercial
Zoning
C4 / RS2.1
Taxes and HOA fees
Annual Taxes
$6,080
Building Details
Building Size
6,000 SF
Year Built
1997
Listing Agency:
C21/First Choice Realty
(918) 696-1617
Listed By:
April Vaughn · License #160138
(918) 696-1617
Source:
Theloveteamoklahoma
Added: Mar 19
Changed: Aug 25
Last Checked: Aug 25 at 8:45AM
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 7.82+/- acre property on Hwy 51 in Coweta features a 73-unit mini storage facility. The facility includes 48 indoor units, 5 storage containers, and 20 outside parking units, with an 82% occupancy rate. The property has 210 feet of Hwy 51 frontage and 456.58 feet along 417th E Ave, offering visibility and room for expansion. Zoned C-4 (Central Service District) along 417th and RS 2.1 (Residential) for the remaining land, the property allows for expansion of storage operations, commercial space development, or a residential or mixed-use project. The mini storage facility is fully fenced and includes an electric gate. Electricity is on-site, and water is available nearby. The property is located minutes from the Muskogee Turnpike and has high traffic exposure.
Key Highlights
- High‑visibility location with 210 feet of frontage on Hwy 51
- Existing 73‑unit mini storage facility with 82% occupancy
- 7.82+\/- acres of land with development potential
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
$28,844
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
4.81%
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%
$576,880
$576.9K
Cap Rate 7%
$412,057
$412.1K
Cap Rate 9%
$320,489
$320.5K
Market Conditions
NOI Build-Up for 6,000 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
$42.5K $7.08/SF
− Vacancy
−$1.3K −$0.21/SF
EGI
$41.2K $6.87/SF
− OpEx
−$12.4K −$2.06/SF
NOI
$28.8K $4.81/SF
Area
Wagoner County, OK
Vacancy
3.00%
Lease Rate
$7.08 /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%
$576,880
Cap Rate 7%
$412,057
Cap Rate 9%
$320,489
Alternative Uses
Best Use
Self Storage
$794.9K
$695.5K – $927.4K
NOI $55,642 @ 7.0% cap · market cap 9.28%
Second Best
Industrial
$412.1K
$360.6K – $480.7K
NOI $28,844 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$1.42M
$1.24M – $1.65M
NOI $99,072 @ 7.0% cap · market cap 16.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Explore this area
Business Placement
Demographics for 74429, OK
15,974
Population
6,457
Households
2.5
Avg Household Size
38
Median Age
25%
College-Educated
92%
High-School Grad
84.2 sq mi
ZIP Area
190
Density / Sq Mi
$73,545
Median Household Income
$46,558
Median Earnings
$968
Median Rent
$215,000
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?
Self storage facility - 7.82+/- acre property with mini storage and development potential.
Where is this self storage facility located?
The property is located at 14620 S 417th East Avenue Coweta, OK.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: High‑visibility location with 210 feet of frontage on Hwy 51; Existing 73‑unit mini storage facility with 82% occupancy; 7.82+\/- acres of land with development potential
