Five-Unit Apartment
New
For Sale
$300,000
34251 E 700 Road, Wagoner, OK 74467
Commercial, Wagoner, OK
Property Size3,364 SF
Lot Size0.66 Acres
Price / SF$89.18
Days on Market3
Property Features for 34251 E 700 Road
General Information
Property type
Commercial Sale
Property subtype
Apartment
Zoning
RC
Parking features
Covered, Carport
Interior features
Cable TV Wired
Exterior features
Dumpster, Lighting, Storage
Fencing
Chain Link
Subdivision
Oak Cliff Acres
Elementary school district
Wagoner - Sch Dist (31)
Middle school district
Wagoner - Sch Dist (31)
High school district
Wagoner - Sch Dist (31)
Directions
From the intersection of Hwy 69/51 go north on Hwy 69 to 690 Rd, turn right onto 690 and follow to "Y" veer right toward Whitehorn Cove. Apartments are located on the left just before Marina.
Standard status
Active
APN
730017726
Size
3,364 SF
Lot size
0.66 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
OAK CLIFF ACRES E2 0F L-5 : S2 W2 OF L-5 BLK 7
Tax Annual Amount
2568
Legal Description
OAK CLIFF ACRES E2 0F L-5 : S2 W2 OF L-5 BLK 7
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Cooling system
Central Air
Building Details
Year built
1992
Flooring type
Laminate, Vinyl, Carpet
Building materials
Frame
Roof type
Composition
Additional Structures
Storage
Listing Agency:
Keller Williams Advantage · Keller Williams Realty
(918) 712-2252
Listed By:
Elizabeth Beaubien · License #175794
(918) 408-0270
Added: Aug 24
Last Checked: Aug 26 at 3:06AM
MLS# 2631219
Copyright © 2026 MLS Technology, 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 apartment property contains five units within 3,364 square feet on 0.655 acres. The configuration includes four two-bedroom, one-bathroom apartments plus one efficiency unit. Built in 1992, the property has frame construction, laminate, vinyl, and carpet flooring, central air, covered carport parking, chain-link fencing, exterior lighting, storage, and a dumpster.
Located at 34251 E 700 Road in Wagoner, Oklahoma, the property is near Fort Gibson Lake and is zoned RC. Utilities include cable availability, with service supported by a septic tank. The complex is reported to be 100% occupied, providing an established five-unit configuration for continued residential rental use.
Located at 34251 E 700 Road in Wagoner, Oklahoma, the property is near Fort Gibson Lake and is zoned RC. Utilities include cable availability, with service supported by a septic tank. The complex is reported to be 100% occupied, providing an established five-unit configuration for continued residential rental use.
Key Highlights
- Five total units: four 2‑bedroom, 1‑bathroom apartments and one efficiency unit
- 3,364 square feet on 0.655 acres
- 100% occupied
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
$26,612
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
8.87%
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%
$532,240
$532.2K
Cap Rate 7%
$380,171
$380.2K
Cap Rate 9%
$295,689
$295.7K
Market Conditions
NOI Build-Up for 3,364 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
$52.5K $15.60/SF
− Vacancy
−$4.1K −$1.22/SF
EGI
$48.4K $14.38/SF
− OpEx
−$21.8K −$6.47/SF
NOI
$26.6K $7.91/SF
Area
Wagoner County, OK
Vacancy
7.80%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
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%
$532,240
Cap Rate 7%
$380,171
Cap Rate 9%
$295,689
Alternative Uses
Best Use
Apartment 5plus
$380.2K
$332.7K – $443.5K
NOI $26,612 @ 7.0% cap · market cap 8.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$793.5K
$694.3K – $925.8K
NOI $55,546 @ 7.0% cap · market cap 18.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
6
Businesses Nearby
Explore this area
Business Placement
Demographics for 74467, OK
13,981
Population
6,826
Households
2
Avg Household Size
44
Median Age
20%
College-Educated
88%
High-School Grad
154.1 sq mi
ZIP Area
91
Density / Sq Mi
$58,398
Median Household Income
$39,350
Median Earnings
$852
Median Rent
$149,500
Median Home Value
Market
Vacancy Rate% for Multifamily 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?
Apartment building - Fully occupied property includes four two-bedroom apartments and one efficiency unit.
Where is this apartment building located?
The property is located at 34251 E 700 Road Wagoner, OK.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Five total units: four 2‑bedroom, 1‑bathroom apartments and one efficiency unit; 3,364 square feet on 0.655 acres; 100% occupied
