Building Details

Year built 1995

Floors in Building 1

Listing Agency: Pam Robinson Real Estate Inc p**@pamrobinsonrealestate.com Show Phone

Listed By: Dillon Robinson · License #158755 Show Phone

Added: Aug 3 Changed: Aug 20 Last Checked: Sep 21 at 11:06AM

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MLS# 1212101

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 flex-space property combines an approximately 600-square-foot office with a versatile approximately 1,200-square-foot shop, creating 1,800 square feet of existing improvements. The site is zoned Agriculture and includes a 1995-built office/shop configuration suitable for the commercial, trade-service, fleet, retail, and light industrial uses identified in the property information.

The 1.23-acre corner parcel fronts Highway 99 / US 377 and sits 3.5 miles north of I-40. Access is provided through three separate points: two entrances from Highway 99 and one from Moccasin Trail. Its highway frontage, multiple approaches, and combination of office and shop space support a range of operational layouts without relying on a single enclosed commercial format.

Key Highlights

• 1.23‑acre corner parcel with frontage along Highway 99 / US 377
• Approximately 1,800 square feet of existing improvements
• Approximately 600 sq. ft. office building

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

$22,359

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

8.28%

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%

$447,180 $447.2K

Cap Rate 7%

$319,414 $319.4K

Cap Rate 9%

$248,433 $248.4K

Market Conditions

NOI Build-Up for 1,800 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

$37.8K $21.00/SF

− Vacancy

−$3.4K −$1.89/SF

EGI

$34.4K $19.11/SF

− OpEx

−$12.0K −$6.69/SF

NOI

$22.4K $12.42/SF

Area

Lincoln County, OK

Vacancy

9.00%

Lease Rate

$21.00 /SF/Yr

Expense Ratio

35.00%

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%

$447,180

Cap Rate 7%

$319,414

Cap Rate 9%

$248,433

Alternative Uses

Best Use

Flex RnD

$319.4K

$279.5K – $372.7K (±1% cap)

NOI $22,359 @ 7.0% cap · market cap 8.28%

Second Best

Office B

$218.1K

$190.8K – $254.4K (±1% cap)

NOI $15,266 @ 7.0% cap · market cap 5.65%

Theoretical Best

Specialty Retail

$435.1K

$380.7K – $507.6K (±1% cap)

NOI $30,456 @ 7.0% cap · market cap 11.28%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Flex space

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

14

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 74864, OK

5,334

Population

2,023

Households

2.6

Avg Household Size

42

Median Age

16%

College-Educated

88%

High-School Grad

117.6 sq mi

ZIP Area

45

Density / Sq Mi

$64,313

Median Household Income

$36,193

Median Earnings

$819

Median Rent

$165,600

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Flex Space with Office and Shop

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Frequently Asked Questions

What type of property is this?

Flex space - Office and shop improvements provide a practical base for commercial, trade, or light industrial operations.

Where is this flex space located?

The property is located at 55968 Moccasin Tail Road Prague, OK.

What is the asking price?

The asking price for this property is $270,000.

What are key features of this property?

This property features: 1.23‑acre corner parcel with frontage along Highway 99 / US 377; Approximately 1,800 square feet of existing improvements; Approximately 600 sq. ft. office building