Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Contiguous Residential Lots Package Title is generated by Realmo AI

    31964 Red Hawk Drive, Wanette, OK 74878

    View on Map
    Claim this Listing
    For Sale
    $289,000

    LAND - Wanette, OK

    Lot size:
    27.00 Acres
    Added:
    May 27, 2026
    Days on Market:
    11
    Last Refresh:
    Jun 6 at 1:06 pm

    Property Features for 31964 Red Hawk Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    31964NONERedHawkDrive74878
    Lot size
    27.00 Acres

    We can help!

    Listing Contact
    Natalie Pearson

    Listing agent Natalie Pearson

    Listing office Salt Real Estate Inc 1508 W Edmond Rd, Edmond, OK

    Listing date May 27, 2026

    MLS# 1232737 Listing URL

    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.

    HighLights

    • Five contiguous platted lots sold together as one package: Lots 9, 10, 11, 12, and 13 of Melrose Estates
    • 6‑inch concrete slab already in place, providing a head start for future construction
    • Flexible building options to build on one, several, or all lots (subject to applicable restrictions and county requirements)
    • Easy access to Wanette and surrounding communities

    Overview

    This offering includes five separate platted residential lots, Lots 9, 10, 11, 12, and 13, sold together as one package. The lots are contiguous, giving a combined configuration that can support building on one lot, several lots, or all lots, subject to applicable restrictions and county requirements. A 6-inch concrete slab is already in place, providing a foundation that may help streamline future construction planning.

    The property is located in Melrose Estates and is convenient to Wanette and surrounding communities, with access suitable for residential development planning. Prospective buyers are encouraged to review lot dimensions, utilities, zoning, restrictions, mineral rights, and school district information as part of their due diligence.

    For buyers seeking a homesite or the flexibility of holding multiple lots for later building, the package format provides options for layout and phasing. Investors or developers may also find it useful as a consolidated lot position for future planning, with the understanding that all site-specific approvals and requirements must be confirmed before construction or development.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Wanette
    County
    Pottawatomie
    State
    Oklahoma
    Longitude
    -97.0357
    Latitude
    35.0039

    Nearby Similar for Sale

    • $350,000
      4,500 SF

      Land in Wanette, Oklahoma

      4.1 acres of land for expansion or development.
      OK-39 Highway, Wanette, OK 74878
      View Details
    • $89,400

      Versatile Acreage Near I-35 & I-40

      13 +/- acres near I-35 & I-40, perfect for recreation.
      7 Slaughterville Road, Wanette, OK 74878
      View Details
    • $79,900

      Wanette, OK Land Opportunity

      Nearly 5 acres in Wanette, OK with utilities.
      38291 lonesome Dove Road, Wanette, OK 74878
      View Details
    • $69,500

      Land Available Outside Wanette, OK

      11.01 acres of land a few miles outside Wanette.
      Patterson Road, Wanette, OK 74878
      View Details
    • $79,500

      Land Available Outside Wanette, OK

      11.01 acres of land a few miles outside Wanette.
      Patterson Road, Wanette, OK 74878
      View Details
    • $32,480

      Residential Land in Wanette, OK

      Gently sloping residential land suitable for building in Wanette, OK.
      34233 Green Valley RD, Wanette, OK 74878
      View Details
    • $340,000

      Highway Frontage Land in Wanette

      80 acres with highway frontage, ideal for agricultural or commercial.
      35000 SH-39, Wanette, OK 74878
      View Details
    • $32,800

      Residential Land in Wanette, OK

      Gently sloping residential land suitable for building a home.
      34277 Green Valley Rd, Wanette, OK 74878
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Five contiguous platted lots are sold together with an existing concrete slab to support future home construction.
    Where is this residential land & home lot located?
    The property is located at 31964 Red Hawk Drive Wanette, OK.
    What is the asking price?
    The asking price for this property is $289,000.
    What are key features of this property?
    This property features: Five contiguous platted lots sold together as one package: Lots 9, 10, 11, 12, and 13 of Melrose Estates; 6‑inch concrete slab already in place, providing a head start for future construction; Flexible building options to build on one, several, or all lots (subject to applicable restrictions and county requirements)
    (281) 745-7598
    We can help!
    Listing Contact
    Natalie Pearson
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    31964 Red Hawk Drive, Wanette, OK 74878
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!