Functional Medical Office
For Sale
$495,000
2602 Chandler Road, Muskogee, OK 74403
Chiropractic office with treatment rooms, offices, and parking.
Property Size3,736 SF
Price / SF$132.49
Days on Market108
Property Features for 2602 Chandler Road
General Information
Standard status
Active
Size
3,736 SF
Property subtype
Commercial
Zoning
C2
Taxes and HOA fees
Annual Taxes
$3,016
Building Details
Building Size
3,736 SF
Year Built
1960
Listing Agency:
Interstate Properties, Inc.
(918) 781-9197
Listed By:
Earnie Gilder · License #45081
(918) 781-9197
Source:
Eufaulaproperties
Added: May 11
Changed: Aug 25
Last Checked: Aug 25 at 8:17AM
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 Interstate Properties, Inc.
Investment Insights
Based on property information with market context.
This is a fully functional chiropractic office building with a total size of 3,736 square feet. The property features 10 treatment rooms, 3 bathrooms (including 1 full bathroom), a lobby, and 4 offices. It also includes a full kitchen and washer & dryer connections. The building is equipped with 2 water heaters (1 gas and 1 electric) and 3 HVAC units with gas heat. The roof is less than 10 years old. The property provides ample parking. Located on the east side of Muskogee, this building is suitable for any medical office.
Key Highlights
- Fully functional chiropractic office building, suitable for any medical practice.
- Features 10 treatment rooms, 4 offices, lobby, and a full kitchen.
- Roof is less than 10 years old.
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
$40,551
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
8.19%
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%
$811,020
$811.0K
Cap Rate 7%
$579,300
$579.3K
Cap Rate 9%
$450,567
$450.6K
Market Conditions
NOI Build-Up for 3,736 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
$67.2K $18.00/SF
− Vacancy
−$13.2K −$3.53/SF
EGI
$54.1K $14.47/SF
− OpEx
−$13.5K −$3.62/SF
NOI
$40.6K $10.85/SF
Area
Muskogee County, OK
Vacancy
19.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$811,020
Cap Rate 7%
$579,300
Cap Rate 9%
$450,567
Alternative Uses
Best Use
Office B
$579.3K
$506.9K – $675.9K
NOI $40,551 @ 7.0% cap · market cap 8.19%
Second Best
Healthcare Medical
$498.7K
$436.4K – $581.8K
NOI $34,908 @ 7.0% cap · market cap 7.05%
Theoretical Best
Office A
$782.0K
$684.2K – $912.3K
NOI $54,739 @ 7.0% cap · market cap 11.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
352
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 74403, OK
29,419
Population
12,779
Households
2.3
Avg Household Size
40
Median Age
21%
College-Educated
88%
High-School Grad
109.7 sq mi
ZIP Area
268
Density / Sq Mi
$57,171
Median Household Income
$35,732
Median Earnings
$841
Median Rent
$145,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Dr. Janet S. Blake, DVM — 2604 chandler rd, muskogee, ok 74403
Frequently Asked Questions
What type of property is this?
Medical Office Space - Chiropractic office with treatment rooms, offices, and parking.
Where is this medical office space located?
The property is located at 2602 Chandler Road 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: Fully functional chiropractic office building, suitable for any medical practice.; Features **10 treatment rooms, 4 offices, lobby, and a full kitchen.**; Roof is less than 10 years old.
