Remodeled Office
For Sale
$208,950
306 E Highway 66, Wellston, OK 74881
Commercial Sale, Wellston, OK
Property Size1,350 SF
Lot Size0.56 Acres
Price / SF$154.78
Days on Market179
Property Features for 306 E Highway 66
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Commercial
Directions
From On-Cue/Dollar General go West on Highway 66 approx 900 ft property on N Side of Highway 66.
Standard status
Active
APN
306EHighway6674881
Size
1,350 SF
Lot size
0.56 Acres
Utilities
Heating system
Zoned
Cooling system
Zoned
Building Details
Year built
1977
Building materials
Brick
Listing Agency:
Oklahoma Country Homes
(405) 356-2727
Listed By:
Jamie Barnes Saxon · License #147759
(405) 820-2345
Added: Mar 3
Changed: Aug 19
Last Checked: Aug 29 at 8:06AM
MLS# 1216897
Copyright © 2026 MLSOK, 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 1,350-square-foot brick office property sits on 0.56 acres and includes four office spaces, a large reception area, and bathroom facilities. The building was constructed in 1977 and has undergone a complete remodel, including conversion of the former flat roof to a pitched design and installation of metal roofing in 2024. Zoned heating and cooling serve the building, while the site includes a privacy-fenced exterior area and chain fencing along three sides.
The property fronts Highway 66 in Wellston and is located less than 1,000 feet from the turnpike gates, OnCue, and Dollar General. Four businesses currently occupy the building. Two may be interested in negotiating continued leases with a new owner; another plans to relocate. Furniture, desks, décor, and the existing health and wellness equipment may be negotiated separately, with equipment removal otherwise planned before closing.
The property fronts Highway 66 in Wellston and is located less than 1,000 feet from the turnpike gates, OnCue, and Dollar General. Four businesses currently occupy the building. Two may be interested in negotiating continued leases with a new owner; another plans to relocate. Furniture, desks, décor, and the existing health and wellness equipment may be negotiated separately, with equipment removal otherwise planned before closing.
Key Highlights
- 1,350‑square‑foot brick office building on 0.56 acres
- Four office spaces plus a large open reception area
- Complete remodel included a pitched roof and metal roofing installed in 2024
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
$11,449
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
5.48%
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%
$228,980
$229.0K
Cap Rate 7%
$163,557
$163.6K
Cap Rate 9%
$127,211
$127.2K
Market Conditions
NOI Build-Up for 1,350 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
$20.6K $15.24/SF
− Vacancy
−$5.3K −$3.93/SF
EGI
$15.3K $11.31/SF
− OpEx
−$3.8K −$2.83/SF
NOI
$11.4K $8.48/SF
Area
Lincoln County, OK
Vacancy
25.80%
Lease Rate
$15.24 /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%
$228,980
Cap Rate 7%
$163,557
Cap Rate 9%
$127,211
Alternative Uses
Best Use
Office B
$163.6K
$143.1K – $190.8K
NOI $11,449 @ 7.0% cap · market cap 5.48%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$326.3K
$285.5K – $380.7K
NOI $22,842 @ 7.0% cap · market cap 10.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
37
Businesses Nearby
Explore this area
Business Placement
Demographics for 74881, OK
4,556
Population
2,224
Households
2
Avg Household Size
42
Median Age
14%
College-Educated
87%
High-School Grad
162.1 sq mi
ZIP Area
28
Density / Sq Mi
$57,827
Median Household Income
$39,383
Median Earnings
$716
Median Rent
$127,100
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.
Frequently Asked Questions
What type of property is this?
Office units - Commercial-zoned office property with multiple workspaces, reception area, and secured outdoor space.
Where is this office units located?
The property is located at 306 E Highway 66 Wellston, OK.
What is the asking price?
The asking price for this property is $208,950.
What are key features of this property?
This property features: 1,350‑square‑foot brick office building on 0.56 acres; Four office spaces plus a large open reception area; Complete remodel included a pitched roof and metal roofing installed in 2024
