Automotive Shop with Hwy
For Sale
$275,000
500 S 32nd St, Muskogee, OK 74401
Fenced auto shop with offices and covered awning along Highway 69 for strong visibility and immediate access.
Property Size1,526 SF
Price / SF$180.21
Days on Market264
Property Features for 500 S 32nd St
General Information
Standard status
Active
Size
1,526 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Additional Details
Service Bays
2
Office Units
2
Taxes and HOA fees
Annual Taxes
$1,447
Listing Agency:
The Shockley Group
(918) 798-2656
Listed By:
Sidni Shockley
(918) 798-2656
Source:
Exprealty
Added: Dec 3, 2025
Changed: Aug 22
Last Checked: Aug 23 at 5:33AM
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 The Shockley Group
Investment Insights
Based on property information with market context.
This commercial property is designed for automotive and service-oriented operations, featuring a 2-bay shop, two office spaces, and two bathrooms. The site is fully fenced with multiple gated entrances, and a covered awning extends usable outdoor space for work staging or display. A functional interior layout supports both front-office needs and hands-on shop activity.
The property has 145 feet of Highway 69 frontage, providing direct exposure to highway traffic and immediate highway access. The surrounding area includes established commercial and institutional neighbors such as Saint Francis Health Systems, Wendy’s, and Arby’s. The remarks also note future highway road-widening considerations, which may affect long-term site planning.
For operators seeking a ready-to-use service facility with on-site offices, this configuration offers a practical fit. The combination of a fenced, gated yard, a 2-bay shop, and covered exterior space can support uses such as a car lot, mechanic’s shop, or service business. Its highway frontage and straightforward access make it well-suited for businesses that benefit from high-visibility roadside presentation.
The property has 145 feet of Highway 69 frontage, providing direct exposure to highway traffic and immediate highway access. The surrounding area includes established commercial and institutional neighbors such as Saint Francis Health Systems, Wendy’s, and Arby’s. The remarks also note future highway road-widening considerations, which may affect long-term site planning.
For operators seeking a ready-to-use service facility with on-site offices, this configuration offers a practical fit. The combination of a fenced, gated yard, a 2-bay shop, and covered exterior space can support uses such as a car lot, mechanic’s shop, or service business. Its highway frontage and straightforward access make it well-suited for businesses that benefit from high-visibility roadside presentation.
Key Highlights
- 145 ft of Highway 69 frontage in Muskogee for strong roadside exposure
- Fully fenced with multiple gated entrances
- 2‑bay shop with 2 office spaces and 2 bathrooms
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
$16,563
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
6.02%
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%
$331,260
$331.3K
Cap Rate 7%
$236,614
$236.6K
Cap Rate 9%
$184,033
$184.0K
Market Conditions
NOI Build-Up for 1,526 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
$27.5K $18.00/SF
− Vacancy
−$5.4K −$3.53/SF
EGI
$22.1K $14.47/SF
− OpEx
−$5.5K −$3.62/SF
NOI
$16.6K $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%
$331,260
Cap Rate 7%
$236,614
Cap Rate 9%
$184,033
Alternative Uses
Best Use
Office B
$236.6K
$207.0K – $276.1K
NOI $16,563 @ 7.0% cap · market cap 6.02%
Second Best
Retail
$222.9K
$195.1K – $260.1K
NOI $15,606 @ 7.0% cap · market cap 5.67%
Theoretical Best
Office A
$319.4K
$279.5K – $372.7K
NOI $22,359 @ 7.0% cap · market cap 8.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Service bays
2
Office units
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
696
Businesses Nearby
Well-served
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- GUARDIAN INTERLOCK OF MUSKOGEE — 806 S 32nd St, Muskogee, OK 74401
- Legendary Lube and Oil — 627 S 32nd St, Muskogee, OK 74401
- Crowder Auto Glass — 1109 S 23rd St, Muskogee, OK 74401
- Pocket Size Repair — 1620 W Broadway St, Muskogee, OK 74401
- EM Express Tire Shop LLC #2 — 500 S 32nd St, Muskogee, OK 74401
Frequently Asked Questions
What type of property is this?
Auto shop - Fenced auto shop with offices and covered awning along Highway 69 for strong visibility and immediate access.
Where is this auto shop located?
The property is located at 500 S 32nd St Muskogee, OK.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 145 ft of Highway 69 frontage in Muskogee for strong roadside exposure; Fully fenced with multiple gated entrances; 2‑bay shop with 2 office spaces and 2 bathrooms
