Cannabis Cultivation Property with
For Sale
$1,500,000
158 State HWY 76, Wilson, OK 73463
Commercial, Wilson, OK
Property Size5,000 SF
Lot Size223.69 Acres
Price / SF$300
Days on Market57
Property Features for 158 State HWY 76
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
AG
Exterior features
Lighting, Storage
Subdivision
NOTINSUBDI
Elementary school district
Wilson SCD K-12 (93)
Middle school district
Wilson SCD K-12 (93)
High school district
Wilson SCD K-12 (93)
Directions
From Hwy 70 W, take the first entrance into Wilson, & follow the State Hwy 76 signs to an intersection where you will turn south. Go approx 6.5 miles to Sandy Stone Rd. & west a short distance to the gate on the N side of the rd
Standard status
Active
APN
0000-29-05S-02W-4-002-00
Size
5,000 SF
Lot size
223.69 Acres
Taxes and HOA fees
Tax Year
2018
Tax Description
Lengthy legal R29 05S- 02W Surface rights only
Tax Annual Amount
562
Legal Description
Lengthy legal R29 05S- 02W Surface rights only
Utilities
Sewer type
Septic Tank
Water source
Well
Building Details
Year built
2022
Building materials
Steel
Roof type
Metal
Additional Structures
Storage
Listing Agency:
eXp Realty, LLC
(405) 404-1924
Listed By:
Melinda Moore · License #176910
(405) 880-4909
Added: Jun 27
Changed: Aug 19
Last Checked: Aug 22 at 7:06PM
MLS# 2623679
Copyright © 2026 MLS Technology, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This AG-zoned property combines agricultural land with commercial improvements suited to cultivation, controlled-environment agriculture, warehousing, manufacturing, storage, or livestock support. Four steel buildings total approximately 20,000 square feet MOL and include electrical service, lighting, and water supplied by an on-site well. The improvements were previously used as a licensed medical marijuana cultivation facility. Metal roofing, storage features, and a septic tank are also in place.
The property includes approximately 45% production pasture planted with Wrangler Bermuda and native grasses, with the balance covered by mature Post Oak and Blackjack timber. Three ponds and an 80-foot water well add functional water resources. REA electric lines run along Highway 76, with frontage continuing south to the corner of Highway 76 and Sandy Stone Road. A leased rent house is located on the eastern portion, and the owner will consider dividing the acreage.
The property includes approximately 45% production pasture planted with Wrangler Bermuda and native grasses, with the balance covered by mature Post Oak and Blackjack timber. Three ponds and an 80-foot water well add functional water resources. REA electric lines run along Highway 76, with frontage continuing south to the corner of Highway 76 and Sandy Stone Road. A leased rent house is located on the eastern portion, and the owner will consider dividing the acreage.
Key Highlights
- Four steel buildings totaling approximately 20,000 square feet MOL
- Previously operated as a licensed medical marijuana cultivation facility
- Approximately 45% production pasture with Wrangler Bermuda and native grasses
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
$80,972
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
5.40%
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%
$1,619,440
$1.6M
Cap Rate 7%
$1,156,743
$1.2M
Cap Rate 9%
$899,689
$899.7K
Market Conditions
NOI Build-Up for 5,000 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
$106.2K $21.24/SF
− Vacancy
−$10.9K −$2.19/SF
EGI
$95.3K $19.05/SF
− OpEx
−$14.3K −$2.86/SF
NOI
$81.0K $16.19/SF
Area
Carter County, OK
Vacancy
10.30%
Lease Rate
$21.24 /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%
$1,619,440
Cap Rate 7%
$1,156,743
Cap Rate 9%
$899,689
Alternative Uses
Best Use
Warehouse
$1.16M
$1.01M – $1.35M
NOI $80,972 @ 7.0% cap · market cap 5.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.28M
$1.12M – $1.50M
NOI $89,760 @ 7.0% cap · market cap 5.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Explore this area
Business Placement
Demographics for 73463, OK
3,365
Population
1,709
Households
2
Avg Household Size
43
Median Age
11%
College-Educated
87%
High-School Grad
209.9 sq mi
ZIP Area
16
Density / Sq Mi
$56,372
Median Household Income
$42,538
Median Earnings
$783
Median Rent
$107,800
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Cannabis property - AG-zoned acreage with four steel buildings, well water, ponds, and Highway 76 frontage extending to Sandy Stone Road.
Where is this cannabis property located?
The property is located at 158 State HWY 76 Wilson, OK.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Four steel buildings totaling approximately 20,000 square feet MOL; Previously operated as a licensed medical marijuana cultivation facility; Approximately 45% production pasture with Wrangler Bermuda and native grasses
