Downtown Muskogee Office
For Sale
$495,000
419 W Broadway St, Muskogee, OK 74401
Two-story office building in downtown Muskogee with three established tenants.
Property Size1,657 SF
Lot Size0.13 Acres
Price / SF$298.73
Days on Market212
Property Features for 419 W Broadway St
General Information
Standard status
Active
Size
1,657 SF
Lot size
0.13 Acres
Taxes and HOA fees
Annual Taxes
$3,003
Listing Agency:
Interstate Properties, Inc.
(918) 781-9197
Listed By:
Earnie Gilder · License #45081
(918) 781-9197
Source:
Exprealty
Added: Jan 26
Changed: Aug 8
Last Checked: Aug 8 at 6:03AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Interstate Properties, Inc.
Investment Insights
Based on property information with market context.
Located in the heart of downtown Muskogee, this well-maintained two-story office building presents an opportunity for investors and owner-occupants. Situated in the Central Business District, the property features three established tenants, providing rental income, plus 1657 square feet available for an additional tenant or owner-occupant. The building offers off-street parking and is located in a commercial area with high visibility and foot traffic. It is also within walking distance of the District and Federal Courthouses. This property is suitable for investment or as an owner-occupant property, allowing an owner to occupy one of the units while benefiting from rental income from the other tenants. The current cap rate is 9% with the potential of going to a 13% cap rate.
Key Highlights
- Prime downtown location in Muskogee's Central Business District with high visibility and foot traffic.
- Immediate rental income from three established tenants plus 1657 sq ft available for additional tenant or owner‑occupant.
- High current cap rate of 9% with potential to increase to 13%.**
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
$17,985
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
3.63%
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%
$359,700
$359.7K
Cap Rate 7%
$256,929
$256.9K
Cap Rate 9%
$199,833
$199.8K
Market Conditions
NOI Build-Up for 1,657 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
$29.8K $18.00/SF
− Vacancy
−$5.8K −$3.53/SF
EGI
$24.0K $14.47/SF
− OpEx
−$6.0K −$3.62/SF
NOI
$18.0K $10.85/SF
Area
Muskogee County, OK
Vacancy
19.60%
Lease Rate
$18.00 /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%
$359,700
Cap Rate 7%
$256,929
Cap Rate 9%
$199,833
Alternative Uses
Best Use
Office B
$256.9K
$224.8K – $299.8K
NOI $17,985 @ 7.0% cap · market cap 3.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$346.8K
$303.5K – $404.6K
NOI $24,278 @ 7.0% cap · market cap 4.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,087
Businesses Nearby
Explore this area
Business Placement
Demographics for 74401, OK
16,181
Population
7,818
Households
2.1
Avg Household Size
40
Median Age
16%
College-Educated
85%
High-School Grad
110.9 sq mi
ZIP Area
146
Density / Sq Mi
$39,767
Median Household Income
$32,700
Median Earnings
$827
Median Rent
$122,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two-story office building in downtown Muskogee with three established tenants.
Where is this office building located?
The property is located at 419 W Broadway St Muskogee, OK.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Prime downtown location in Muskogee's Central Business District with high visibility and foot traffic.; Immediate rental income from three established tenants plus **1657 sq ft available for additional tenant or owner‑occupant.**; High current cap rate of 9% with potential to increase to 13%.**
