320 S Morton Avenue Okmulgee, OK 74447
COMMERCIAL - Okmulgee, OK
Property Features for 320 S Morton Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- COM
- Interior features
- Smoke Detector
- Exterior features
- Dumpster, Sidewalk
- Standard status
- Active
- APN
- 1
- Size
- 4,388 SF
- Lot size
- 0.36 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- OT OKMULGEE N 65' OF E/2 LT 5 & S 75' OF E/2 LT 5 & W 10' OF N 60' & S 80' LT 6 BLK 116 . LUCERNE APT
- Tax Annual Amount
- 1229
Building Details
- Year built
- 1920
- Flooring type
- Carpet, Vinyl, Tile, Wood
- Building materials
- Brick
Listing agent Jamie Goodnight (918) 712-2252
Listing office Keller Williams Advantage 12133 S Yukon Ave, #100, Tulsa, OK (918) 291-2425
Listing date Jul 13, 2026
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Investment Insights
Based on property information with market context.
The property also includes two additional homes: a two-bedroom, one-bath residence and a one-bedroom, one-bath residence. These homes are currently rented, and they have individual utility metering for gas/electric/water, which is paid by the tenants. Within the apartment building, units are individually metered for electric and gas, while there is one water meter serving the 12 units.
Overall, the site provides a combined rental setup with apartment units and two separate homes, all under one ownership location.
Key Highlights
- 3‑story apartment building near downtown Okmulgee with 12 1‑bedroom units
- Basement laundry facility included
- Roof replaced; plumbing/drains updated on 6 of the apartment units
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $68.5k | $15.60 |
| − Vacancy | −$5.3k | −$1.22 |
| EGI | $63.1k | $14.38 |
| − OpEx | −$28.4k | −$6.47 |
| NOI | $34.7k | $7.91 |
