Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers

    420 N Main Street Muskogee, OK 74401

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $990,000

    Two-story building in historic downtown district with endless commercial opportunities.

    Property size:
    21,006 SF
    Price / SF:
    $47/SF
    Added:
    Mar 31, 2024
    Days on Market:
    767
    Last Refresh:
    Apr 1 at 9:38 pm

    Property Features for 420 N Main Street

    General Information

    Standard status
    Active
    Size
    21,006 SF
    Property subtype
    Other

    Building Details

    Year Built
    1920

    We can help!

    Listing Contact
    Janet Helms

    Listing agent Janet Helms

    Listing office Sage Sotheby's Realty

    Listing date Mar 31, 2024

    Source Xome

    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 Sage Sotheby's Realty

    Overview

    Historic Downtown District Commercial Building

    Located in the historic downtown district, this two-story building offers commercial opportunities on almost a full city block. The property is situated in the heart of the Katie District and features an exterior full of character. The interior includes hand-painted murals. The location provides walking distance access to retail shops, restaurants, the Katie Museum, and the historic Depot. A security system is installed. The expansive kitchen area includes stainless-steel fixtures and equipment suitable for culinary endeavors or catering ventures. Multiple areas await creative customization, with space upstairs for further expansion. The property size is 21006 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    420 Main Dispensary Medical Clinic Robhots Edibles Oklahoma ... Food Processing Plant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Muskogee
    County
    Muskogee
    State
    Oklahoma
    Longitude
    -95.3675115
    Latitude
    35.7510509

    Nearby Similar for Sale

    • $344,000
      4,640 SF

      Upgraded Office Building, Corner Lot

      Upgraded office building on a corner lot near downtown.
      1001 W Broadway Street, Muskogee, OK 74401
      View Details
    • $495,000
      11,546 SF

      Downtown Muskogee Office Building

      Two-story office building in the heart of downtown Muskogee.
      419 W Broadway Street, Muskogee, OK 74401
      View Details
    • $379,500
      2,310 SF

      Muskogee Commercial Property on Highway

      Functional oil lube and repair shop on a highway.
      627 S 32nd Street, Muskogee, OK 74401
      View Details
    • $495,000
      2,150 SF

      Muskogee Commercial Property For Sale

      Versatile commercial property on rapidly growing West Shawnee Bypass corridor.
      1620 W Shawnee Bypass, Muskogee, OK 74401
      View Details
    • $525,000
      8,902 SF

      Muskogee Church and Ministry Buildings

      Two buildings for religious use on 4.62 acres.
      2710 S Cherokee Drive, Muskogee, OK 74403
      View Details
    • $350,000
      1,827 SF

      Muskogee Commercial Property For Sale

      Corner lot property suitable for office, retail, or mixed-use.
      1119 W Okmulgee, Muskogee, OK 74401
      View Details
    • $575,000
      5,758 SF

      Remodeled Commercial Building in Muskogee

      Remodeled commercial building with shop and expansion space.
      1907 N 11th Street, Muskogee, OK 74401
      View Details
    • $179,000
      7,620 SF

      Mixed-Use Building in Downtown Muskogee

      Commercial building with office, event, and warehouse space for sale.
      125 N Cherokee, Muskogee, OK 74403
      View Details
    • $349,000
      2,944 SF

      Downtown Muskogee Office Building

      Office building in downtown Muskogee with partial lease income.
      330 N 4th Street, Muskogee, OK 74401
      View Details
    • $5,000
      5,758 SF

      Remodeled Commercial Building in Muskogee

      Versatile commercial property with remodeled building and ample workspace.
      1907 N 11th Street, Muskogee, OK 74401
      View Details
    • $339,500
      6,435 SF

      Muskogee Office Space Available

      Office building with multiple offices, conference room, and parking.
      814 W Okmulgee Avenue, Muskogee, OK 74401
      View Details
    • $370,000
      11,000 SF

      Downtown Muskogee Commercial Building

      11,000 sq ft commercial building in downtown Muskogee.
      800 W Okmulgee Avenue, Muskogee, OK 74401
      View Details

    FAQs

    What type of property is this?
    Retail space - Two-story building in historic downtown district with endless commercial opportunities.
    Where is this retail space located?
    The property is located at 420 N Main Street Muskogee, OK.
    What is the asking price?
    The asking price for this property is $990,000.
    What are key features of this property?
    This property features: Prime location in the heart of Muskogee's historic Katie District, within walking distance to retail, restaurants, the Katie Museum, and the Depot.; Vast interior space with multiple areas for customization and expansion potential on the second floor.; Expansive kitchen area equipped with stainless‑steel fixtures and equipment suitable for culinary or catering businesses.
    (405) 748-0405
    We can help!
    Listing Contact
    Janet Helms
    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
    420 N Main Street, Muskogee, OK 74401
    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!