Building Details

Year built 1977

Building materials Brick

Listing Agency: Oklahoma Country Homes S***@Yahoo.Com Show Phone

Listed By: Jamie Barnes Saxon · License #147759 Show Phone

Added: Mar 3 Changed: Sep 23 Last Checked: Oct 13 at 3:06PM

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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.

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 / Yr

$11,449

Cap Rate

5.50%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $11,449 @ 7.0% cap · market cap 5.50%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$326.3K

$285.5K – $380.7K (±1% cap)

NOI $22,842 @ 7.0% cap · market cap 10.98%

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

Property Analytics

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Current Use

Office Units

Suggested Use

Top Pick Parking Lot & Garage Storage Facility Big Box & Wholesale Store Grocery & Convenience Store Kitchen & Bath Showroom Real Estate Agency

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

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

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

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What type of property is this? Where is this office units located? What is the asking price? Find similar properties What are key features of this property?

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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 $208,000.

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