Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Lakefront Home with Entertaining Options Title is generated by Realmo AI

    56853 E 318 Rd, Jay, OK 74346

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    7BR lakefront house on Grand Lake with multiple living areas.

    Type:Land, Multifamily
    Property size:
    3,520 SF
    Lot size:
    0.50 Acres
    Added:
    Feb 24, 2026
    Days on Market:
    78
    Last Refresh:
    Mar 17 at 1:17 pm

    Property Features for 56853 E 318 Rd

    General Information

    Standard status
    Active
    Size
    3,520 SF
    Lot size
    0.50 Acres
    Property subtype
    Land, Multifamily

    We can help!

    Listing Contact
    Cindy Dees

    Listing agent Cindy Dees License #ID DB42620

    Listing office Williams & Williams Auctioneers

    Listing date Feb 24, 2026

    Source Crexi

    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 Williams & Williams Auctioneers

    HighLights

    • Lakefront property on Grand Lake
    • Boasting 7 bedrooms and 3 bathrooms
    • 3,520+\/- sq ft house on 0.5+\/- acre
    • Two kitchens for entertaining
    • Multiple living areas including a sunroom with lake views
    • Located across from Shangri La resort with private dock access

    Overview

    This 3,520+/- square foot lakefront house, built in 1968, features 7 bedrooms and 3 bathrooms on 0.5+/- acres. The carefully maintained home offers serenity on Grand Lake. It includes multiple living areas, including a sunroom with views. The property also features two kitchens, providing entertaining options. A private dock offers easy lake access. The property is located across from Shangri La, a resort on Grand Lake. The property can be used year-round or offered on vacation rental sites. The property is located at 56853 E. 318 Road Jay, OK 74346.
    Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Jay
    County
    Delaware
    State
    Oklahoma
    Longitude
    -94.867299
    Latitude
    36.555777

    Nearby Similar for Sale

    • $435,000
      6,000 SF

      Established Tire Shop on Highway

      Well-established tire shop with expansion potential on 16.77 acres.
      22920 Hwy 20, Jay, OK 74346
      View Details
    • $450,000
      3,425 SF

      Tenant-Occupied Multi-Unit Investment Property

      Corner lot investment property with immediate cash flow in Jay.
      402 4th St, Jay, OK 74346
      View Details
    • $1,091,000

      Highway Frontage Ranch Land

      185-acre ranch land with highway frontage near Jay, Oklahoma.
      US Hwy 59, Jay, OK 74346
      View Details
    • $482,000
      6,000 SF

      Established Tire Shop on Highway

      Operating tire shop with expansion potential on 16.77 acres.
      22920 Hwy 20, Jay, OK 74346
      View Details
    • $309,000
      1,216 SF

      Poultry Egg Farm Opportunity

      Poultry egg farm with four houses and living accommodations.
      34621 S 685 Road, Jay, OK 74346
      View Details
    • $60,000
      2,370 SF

      Commercial Building in Jay, Oklahoma

      Commercial property with redevelopment potential in Jay, Oklahoma.
      2222 S Main, Jay, OK 74346
      View Details
    • $599,000

      113-Acre Cattle Grading Property

      Ranching and livestock operation property with trailer house.
      64492 E 350 Road, Jay, OK 74346
      View Details

    FAQs

    What type of property is this?
    Short term rental property - 7BR lakefront house on Grand Lake with multiple living areas.
    Where is this short term rental property located?
    The property is located at 56853 E 318 Rd Jay, OK.
    What are key features of this property?
    This property features: Lakefront property on Grand Lake; Boasting 7 bedrooms and 3 bathrooms; 3,520+\/- sq ft house on 0.5+\/- acre
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Cindy Dees
    Real Estate License ID: ID DB42620
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    56853 E 318 Rd, Jay, OK 74346
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!