Remodeled Flex Space with
New
For Sale
$517,500
1907 N 11th Street, Muskogee, OK 74401
Commercial, Muskogee, OK
Property Size5,758 SF
Lot Size0.40 Acres
Price / SF$89.87
Days on Market3
Property Features for 1907 N 11th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-2
Interior features
Internal Expansion Area, Public Restrooms
Exterior features
Pole Sign
Fencing
Chain Link
Subdivision
M G Lindsey
Elementary school district
Muskogee - Sch Dist (K5)
Middle school district
Muskogee - Sch Dist (K5)
High school district
Muskogee - Sch Dist (K5)
Directions
From Highway 69 & The Shawnee Bypass, go east on the Shawnee Bypass. Turn south at the stoplight at 11th St. Property sits on the west side of the street.
Standard status
Active
APN
510011536
Size
5,758 SF
Lot size
0.40 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LOT 2 BLOCK 1
Tax Annual Amount
1566
Legal Description
LOT 2 BLOCK 1
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
conference/assembly space
Building Details
Year built
1970
Flooring type
Vinyl
Building materials
Frame
Roof type
Composition
Listing Agency:
Interstate Properties, Inc.
(918) 682-1119
Listed By:
Holly Rosser-Miller · License #147151
(918) 348-9848
Added: Aug 21
Last Checked: Aug 23 at 10:06PM
MLS# 2631159
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.
Located at 1907 N 11th Street in Muskogee, this C-2-zoned flex property combines a remodeled main building with a separate rear work area. Improvements include five HVAC units, an insulated TPO roof, updated bathrooms, new flooring, fresh paint, three front entrances, and two additional service entrances. The main building contains a dozen rooms, public restrooms, and a 15' x 35' conference or assembly area, along with 1,273 square feet of unfinished, climate-controlled expansion or storage space upstairs.
The fenced rear compound includes four covered parking spaces, a substantial shop area, and a 20' x 28' garage with a 12' x 12' overhead door. The work area has 220V electric service, while the property also features chain-link fencing, a pole sign, central heating and cooling, and vinyl flooring.
The fenced rear compound includes four covered parking spaces, a substantial shop area, and a 20' x 28' garage with a 12' x 12' overhead door. The work area has 220V electric service, while the property also features chain-link fencing, a pole sign, central heating and cooling, and vinyl flooring.
Key Highlights
- C‑2 zoning in Muskogee, OK
- Five HVAC units, insulated TPO roof, updated bathrooms, flooring, and paint
- Main building includes three entrances and two additional service entrances
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
$37,205
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
7.19%
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%
$744,100
$744.1K
Cap Rate 7%
$531,500
$531.5K
Cap Rate 9%
$413,389
$413.4K
Market Conditions
NOI Build-Up for 5,758 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
$65.6K $11.40/SF
− Vacancy
−$8.4K −$1.46/SF
EGI
$57.2K $9.94/SF
− OpEx
−$20.0K −$3.48/SF
NOI
$37.2K $6.46/SF
Area
Muskogee County, OK
Vacancy
12.80%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
35.00%
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%
$744,100
Cap Rate 7%
$531,500
Cap Rate 9%
$413,389
Alternative Uses
Best Use
Flex RnD
$531.5K
$465.1K – $620.1K
NOI $37,205 @ 7.0% cap · market cap 7.19%
Second Best
Warehouse
$501.7K
$439.0K – $585.4K
NOI $35,121 @ 7.0% cap · market cap 6.79%
Theoretical Best
Office A
$1.21M
$1.05M – $1.41M
NOI $84,365 @ 7.0% cap · market cap 16.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
234
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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 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?
Flex space - C-2-zoned commercial property with remodeled interiors, multiple entrances, enclosed service area, and climate-controlled expansion space.
Where is this flex space located?
The property is located at 1907 N 11th Street Muskogee, OK.
What is the asking price?
The asking price for this property is $517,500.
What are key features of this property?
This property features: C‑2 zoning in Muskogee, OK; Five HVAC units, insulated TPO roof, updated bathrooms, flooring, and paint; Main building includes three entrances and two additional service entrances
