Multifamily Investment
For Sale
$350,000
515 Dayton St, Muskogee, OK 74403
Multi-property rental portfolio with a mixed-use component and approximately 41 doors.
Property Size3,192 SF
Price / SF$109.65
Days on Market8
Property Features for 515 Dayton St
General Information
Standard status
Active
Size
3,192 SF
Property subtype
Multi-Family
Additional Details
Asking Price
$2,896,000
Building Details
Year Built
1930
Listing Agency:
Keller Williams Advantage
(918) 429-9890
Listed By:
Alicia Swartz · License #171997
Source:
Cheathamrealty
Added: Aug 25
Changed: Aug 29
Last Checked: Aug 31 at 7:00PM
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 multifamily portfolio comprises multiple rental properties offered together as a preferred package. The holdings include approximately 41 rental doors, with one property combining commercial and residential uses. The portfolio includes an established rental component and is positioned as a consolidated acquisition rather than a single-building asset.
The properties are located in Muskogee, Oklahoma, including 515 Dayton St. One identified property dates to 1930. Individual properties are also listed separately, while the preferred transaction structure is a sale of the complete package. Tenant access is controlled, with showings and inspections available by appointment after an accepted offer and/or proof of funds, subject to seller determination.
The properties are located in Muskogee, Oklahoma, including 515 Dayton St. One identified property dates to 1930. Individual properties are also listed separately, while the preferred transaction structure is a sale of the complete package. Tenant access is controlled, with showings and inspections available by appointment after an accepted offer and/or proof of funds, subject to seller determination.
Key Highlights
- Approximately 41 rental doors across multiple properties
- One property includes both commercial and residential uses
- Portfolio properties are preferred to be sold 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
$19,046
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
5.44%
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%
$380,920
$380.9K
Cap Rate 7%
$272,086
$272.1K
Cap Rate 9%
$211,622
$211.6K
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
$37.2K $11.64/SF
− Vacancy
−$2.5K −$0.79/SF
EGI
$34.6K $10.85/SF
− OpEx
−$15.6K −$4.88/SF
NOI
$19.0K $5.97/SF
Area
Muskogee County, OK
Vacancy
6.80%
Lease Rate
$11.64 /SF/Yr
Expense Ratio
45.00%
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%
$380,920
Cap Rate 7%
$272,086
Cap Rate 9%
$211,622
Alternative Uses
Best Use
Apartment 5plus
$272.1K
$238.1K – $317.4K
NOI $19,046 @ 7.0% cap · market cap 5.44%
Second Best
—
—
no second resolved use
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?
Multifamily property - Multi-property rental portfolio with a mixed-use component and approximately 41 doors.
Where is this multifamily property located?
The property is located at 515 Dayton St 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; One property includes both commercial and residential uses; Portfolio properties are preferred to be sold as one package
