Commercial Land with Highway
For Sale
$1,200,000
4707 E 37 Highway, Tuttle, OK 73089
Commercial Sale, Tuttle, OK
Property Size4,800 SF
Lot Size1.52 Acres
Price / SF$250
Days on Market326
Property Features for 4707 E 37 Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Directions
approx .25 miles west from intersection (stoplight) of highway 4 (Mustang Rd) & Highway 37
Standard status
Active
APN
4707E3773089
Size
4,800 SF
Lot size
1.52 Acres
Utilities
Sewer type
Septic Tank
Heating system
Natural Gas
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1982
Floors in Building
1
Listing Agency:
Whittington Realty
(405) 703-4100
Listed By:
Jennifer J Bullard · License #119283
(405) 408-2613
Added: Oct 2, 2025
Changed: Aug 20
Last Checked: Aug 23 at 11:06AM
MLS# 1194288
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.
Investment Insights
Based on property information with market context.
This 1.52-acre commercial property includes two buildings at separate mailing addresses, with a reported 4,800 square feet of building area. Both structures are currently rented to businesses. Improvements date to 1982 and include natural-gas heating, central air, electric cooling, public water, and septic service.
The property fronts E Highway 37 with 199 feet of highway frontage and is located about 1/4 mile from the stoplight at Highway 4, also identified as Mustang Road. The addresses are 4707 E Highway 37 and 4709 E Highway 37 in Tuttle, Oklahoma. Commercial zoning and the existing two-building configuration support continued business occupancy, subject to applicable requirements.
The property fronts E Highway 37 with 199 feet of highway frontage and is located about 1/4 mile from the stoplight at Highway 4, also identified as Mustang Road. The addresses are 4707 E Highway 37 and 4709 E Highway 37 in Tuttle, Oklahoma. Commercial zoning and the existing two-building configuration support continued business occupancy, subject to applicable requirements.
Key Highlights
- 1.52 acres with 199' of frontage along E Highway 37
- Two buildings at 4707 E Highway 37 and 4709 E Highway 37
- Reported 4,800 square feet of building area
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
$47,880
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
3.99%
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%
$957,600
$957.6K
Cap Rate 7%
$684,000
$684.0K
Cap Rate 9%
$532,000
$532.0K
Market Conditions
NOI Build-Up for 4,800 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
$72.0K $15.00/SF
− Vacancy
−$3.6K −$0.75/SF
EGI
$68.4K $14.25/SF
− OpEx
−$20.5K −$4.27/SF
NOI
$47.9K $9.98/SF
Area
Grady County, OK
Vacancy
5.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$957,600
Cap Rate 7%
$684,000
Cap Rate 9%
$532,000
Alternative Uses
Best Use
Retail
$684.0K
$598.5K – $798.0K
NOI $47,880 @ 7.0% cap · market cap 3.99%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.16M
$1.02M – $1.35M
NOI $81,216 @ 7.0% cap · market cap 6.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
96
Businesses Nearby
Explore this area
Business Placement
Demographics for 73089, OK
13,696
Population
5,040
Households
2.7
Avg Household Size
41
Median Age
26%
College-Educated
93%
High-School Grad
106.8 sq mi
ZIP Area
128
Density / Sq Mi
$101,205
Median Household Income
$52,277
Median Earnings
$912
Median Rent
$264,200
Median Home Value
Market
Vacancy Rate% for Retail 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?
Commercial land - Commercial zoning and two existing rented buildings provide an established property configuration.
Where is this commercial land located?
The property is located at 4707 E 37 Highway Tuttle, OK.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 1.52 acres with 199' of frontage along E Highway 37; Two buildings at 4707 E Highway 37 and 4709 E Highway 37; Reported 4,800 square feet of building area
