Building Details

Building Size 1,200 SF

Year Built 1936

Listing Agency: Black Label Agents

Listed By: Black Label Agents OK · License #178347 Show Phone

Source: Blacklabelagentsok

Added: May 5 Changed: Oct 26 Last Checked: Oct 26 at 2:45PM

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Investment Insights

Based on property information with market context.

This motel property in Chelsea, Oklahoma, is listed on the National Register of Historic Places. The site includes six units and restrooms, plus a neon sign that requires rehabilitation.

Route 66 frontage is part of the property, and additional lots are included in the transfer. The estimated site area is approximately 0.69 acres, subject to survey.

Key Highlights

• Six units and restrooms
• Frontage on Route 66
• Additional lots included in the transfer

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$7,223

Cap Rate

8.03%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$144,460 $144.5K

Cap Rate 7%

$103,186 $103.2K

Cap Rate 9%

$80,256 $80.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,200 SF

Gross rent

$17.3K $14.40/SF

− Vacancy

−$2.1K −$1.73/SF

EGI

$15.2K $12.67/SF

− OpEx

−$8.0K −$6.65/SF

NOI

$7.2K $6.02/SF

Area

Rogers County, OK

Vacancy

12.00%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

52.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$144,460

Cap Rate 7%

$103,186

Cap Rate 9%

$80,256

Alternative Uses

Best Use

Hotel Hospitality

$103.2K

$90.3K – $120.4K (±1% cap)

NOI $7,223 @ 7.0% cap · market cap 8.03%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$300.5K

$263.0K – $350.6K (±1% cap)

NOI $21,038 @ 7.0% cap · market cap 23.40%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Motels

Suggested Use

Top Pick Building Supply Real Estate Agency Dental Office Law Firm HVAC Service Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

175

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 74016, OK

5,919

Population

2,692

Households

2.2

Avg Household Size

42

Median Age

13%

College-Educated

87%

High-School Grad

143.6 sq mi

ZIP Area

41

Density / Sq Mi

$59,701

Median Household Income

$31,685

Median Earnings

$779

Median Rent

$114,700

Median Home Value

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Similar Off Market Nearby

• Hickory North Apartments — 500 Hickory St, Chelsea, OK 74016
• Chelsea Motor Inn — 325 E Layton St, Chelsea, OK 74016

Frequently Asked Questions

What type of property is this?

Motel - The property includes six units and restrooms, along with additional lots included in the transfer.

Where is this motel located?

The property is located at 220 Walnut Street Chelsea, OK.

What is the asking price?

The asking price for this property is $89,900.

What are key features of this property?

This property features: Six units and restrooms; Frontage on Route 66; Additional lots included in the transfer