Apartment Building
For Sale
$350,000
515 Dayton Street, Muskogee, OK 74403
Multi-property rental portfolio includes residential assets and one mixed-use property with commercial and residential components.
Property Size3,192 SF
Days on Market21
Property Features for 515 Dayton Street
General Information
Standard status
Active
Size
3,192 SF
Property subtype
Multi Family Home
Additional Details
Asking Price
$2,896,000
Taxes and HOA fees
Annual Taxes
$1,021
Building Details
Building Size
3,192 SF
Year Built
1930
Stories
2
Units
4
Listing Agency:
Keller Williams Advantage
(918) 429-9890
Listed By:
Alicia Swartz · License #171997
(918) 429-9890
Source:
Eufaulaproperties
Added: Jul 31
Changed: Aug 18
Last Checked: Aug 19 at 3:31PM
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 Keller Williams Advantage
Investment Insights
Based on property information with market context.
This apartment-building portfolio comprises approximately 41 rental doors across multiple properties. One asset combines commercial and residential space, adding a mixed-use component to the residential holdings. The properties are marketed individually but are preferred for sale as a single package.
The portfolio is located at 515 Dayton Street in Muskogee, Oklahoma. Showings and inspections are conducted by appointment, subject to an accepted offer and/or proof of funds as determined by the seller. Additional property and financial details are available to qualified buyers upon request.
The portfolio is located at 515 Dayton Street in Muskogee, Oklahoma. Showings and inspections are conducted by appointment, subject to an accepted offer and/or proof of funds as determined by the seller. Additional property and financial details are available to qualified buyers upon request.
Key Highlights
- Approximately 41 rental doors across multiple properties
- Portfolio includes one mixed‑use asset with commercial and residential space
- Properties are listed separately but preferred for sale as one package
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
$25,855
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
7.39%
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%
$517,100
$517.1K
Cap Rate 7%
$369,357
$369.4K
Cap Rate 9%
$287,278
$287.3K
Market Conditions
NOI Build-Up for 3,192 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
$46.0K $14.40/SF
− Vacancy
−$4.6K −$1.44/SF
EGI
$41.4K $12.96/SF
− OpEx
−$15.5K −$4.86/SF
NOI
$25.9K $8.10/SF
Area
Muskogee County, OK
Vacancy
10.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
37.50%
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%
$517,100
Cap Rate 7%
$369,357
Cap Rate 9%
$287,278
Alternative Uses
Best Use
Mixed Use
$369.4K
$323.2K – $430.9K
NOI $25,855 @ 7.0% cap · market cap 7.39%
Second Best
Apartment 5plus
$272.1K
$238.1K – $317.4K
NOI $19,046 @ 7.0% cap · market cap 5.44%
Theoretical Best
Office A
$668.1K
$584.6K – $779.5K
NOI $46,768 @ 7.0% cap · market cap 13.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
954
Businesses Nearby
Explore this area
Business Placement
Demographics for 74403, OK
29,419
Population
12,779
Households
2.3
Avg Household Size
40
Median Age
21%
College-Educated
88%
High-School Grad
109.7 sq mi
ZIP Area
268
Density / Sq Mi
$57,171
Median Household Income
$35,732
Median Earnings
$841
Median Rent
$145,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Multi-property rental portfolio includes residential assets and one mixed-use property with commercial and residential components.
Where is this apartment building located?
The property is located at 515 Dayton Street Muskogee, OK.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Approximately 41 rental doors across multiple properties; Portfolio includes one mixed‑use asset with commercial and residential space; Properties are listed separately but preferred for sale as one package
