Freestanding Light Industrial
For Sale
$495,000
1620 W Shawnee Bypass, Muskogee, OK 74401
COMMERCIAL - Muskogee, OK
Property Size2,150 SF
Lot Size1.29 Acres
Price / SF$230.23
Days on Market148
Property Features for 1620 W Shawnee Bypass
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
I-1
Security features
Security System
Interior features
Mini-Kitchen, Security System-Leased, Smoke Detector
Exterior features
Pole Sign
Fencing
Chain Link
Subdivision
Lincoln Park
Elementary school district
Muskogee - Sch Dist (K5)
Middle school district
Muskogee - Sch Dist (K5)
High school district
Muskogee - Sch Dist (K5)
Directions
From Hwy 69 (32nd St) & Hwy 62 (West Shawnee Bypass), go East on W Shawnee to building on your left (north side of road). Located just east of the intersection of 17th St & W Shawnee.
Standard status
Active
Size
2,150 SF
Lot size
1.29 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOTS 1 THRU 8 BLOCK 12 and LOTS 10 thru 16 BLOCK 5 Lincoln Park
Tax Annual Amount
2028
Legal Description
LOTS 1 THRU 8 BLOCK 12 and LOTS 10 thru 16 BLOCK 5 Lincoln Park
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1974
Building materials
Brick
Roof type
Composition
Listing Agency:
Interstate Properties, Inc.
(918) 682-1119
Listed By:
Earnie Gilder · License #45081
(918) 781-9197
Added: Mar 26
Changed: Aug 4
Last Checked: Aug 20 at 5:06PM
MLS# 2610702
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 freestanding brick commercial building contains 2,150 square feet and was constructed in 1974. Interior features include a mini-kitchen, leased security system, and smoke detector, supported by central heating and central air. A composition roof and chain-link fencing complete the existing improvements. The property is classified I-1, providing a light-industrial setting for the site’s commercial use.
The 1.288-acre parcel is located at 1620 W Shawnee Bypass in Muskogee, Oklahoma. A fully fenced rear yard provides secured outdoor area, while additional unfenced land offers space for parking, storage, or future site improvements. Exterior features include a pole sign and direct frontage along the West Shawnee Bypass corridor.
The 1.288-acre parcel is located at 1620 W Shawnee Bypass in Muskogee, Oklahoma. A fully fenced rear yard provides secured outdoor area, while additional unfenced land offers space for parking, storage, or future site improvements. Exterior features include a pole sign and direct frontage along the West Shawnee Bypass corridor.
Key Highlights
- 2,150‑square‑foot freestanding commercial building constructed in 1974
- 1.288‑acre parcel at 1620 W Shawnee Bypass, Muskogee, OK 74401
- I‑1 zoning
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
$21,988
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
4.44%
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%
$439,760
$439.8K
Cap Rate 7%
$314,114
$314.1K
Cap Rate 9%
$244,311
$244.3K
Market Conditions
NOI Build-Up for 2,150 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
$32.3K $15.00/SF
− Vacancy
−$839 −$0.39/SF
EGI
$31.4K $14.61/SF
− OpEx
−$9.4K −$4.38/SF
NOI
$22.0K $10.23/SF
Area
Muskogee County, OK
Vacancy
2.60%
Lease Rate
$15.00 /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%
$439,760
Cap Rate 7%
$314,114
Cap Rate 9%
$244,311
Alternative Uses
Best Use
Retail
$314.1K
$274.9K – $366.5K
NOI $21,988 @ 7.0% cap · market cap 4.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$450.0K
$393.8K – $525.0K
NOI $31,501 @ 7.0% cap · market cap 6.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
241
Businesses Nearby
168k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 29%
Dining 29%
Home Improvements & Furnishings 23%
Apparel 18%
Lowe's
Home Improvements & Furnishings
37,476 visits/mo
0.3 miles
QuikTrip
Shops & Services
30,498 visits/mo
0.4 miles
Braum's Ice Cream & Dairy Stores
Dining
29,241 visits/mo
0.3 miles
Dunham's Sports
Apparel
21,720 visits/mo
0.4 miles
Ollie's Bargain Outlet
Shops & Services
16,869 visits/mo
0.2 miles
Demographics for 74401, OK
16,181
Population
7,818
Households
2.1
Avg Household Size
40
Median Age
16%
College-Educated
85%
High-School Grad
110.9 sq mi
ZIP Area
146
Density / Sq Mi
$39,767
Median Household Income
$32,700
Median Earnings
$827
Median Rent
$122,300
Median Home Value
Market
Vacancy Rate% for Retail 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?
Storefront property - Brick commercial building with fenced outdoor space, light-industrial zoning, and room for storage or operational use.
Where is this storefront property located?
The property is located at 1620 W Shawnee Bypass Muskogee, OK.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 2,150‑square‑foot freestanding commercial building constructed in 1974; 1.288‑acre parcel at 1620 W Shawnee Bypass, Muskogee, OK 74401; I‑1 zoning
