Renovated Flex Space with
For Sale
$330,000
601 S Cherokee St, Catoosa, OK 74015
Corner commercial property with adaptable rooms, customer parking, and a separate insulated shop for storage or business operations.
Property Size1,324 SF
Price / SF$249.24
Days on Market92
Property Features for 601 S Cherokee St
General Information
Standard status
Active
Size
1,324 SF
Site & Location
Corner Location
Yes
Highway Access
Yes
Amenities
handicap accessible
Building Details
Year Built
1960
Listing Agency:
OUROK Realty
Listed By:
Christi Plett · License #206891
(918) 639-9923
Source:
Thewolekgroup
Added: Jul 17
Changed: Oct 2
Last Checked: Oct 7 at 4:34PM
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 OUROK Realty
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Investment Insights
Based on property information with market context.
This renovated flex space at 601 S Cherokee St includes seven rooms, two full baths, and an open sitting area. Improvements include refinished wood flooring, insulation, updated finishes, a newer roof, and an HVAC system. The property is handicap accessible and includes surrounding parking for customers and employees.
A separate 30' x 40' insulated shop was constructed in 2019 and has electricity plus two overhead doors. The corner-lot property is positioned just off Highway 66, with drive-by exposure and access minutes from Tulsa city limits. The Blue Whale and Hard Rock Hotel & Casino are located within a mile.
A separate 30' x 40' insulated shop was constructed in 2019 and has electricity plus two overhead doors. The corner-lot property is positioned just off Highway 66, with drive-by exposure and access minutes from Tulsa city limits. The Blue Whale and Hard Rock Hotel & Casino are located within a mile.
Key Highlights
- 30' x 40' insulated shop constructed in 2019
- Two full working overhead doors and electricity in the shop
- Seven rooms, two full baths, and an open sitting area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,583
Cap Rate
5.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$371,660
$371.7K
Cap Rate 7%
$265,471
$265.5K
Cap Rate 9%
$206,478
$206.5K
Market Conditions
NOI Build-Up for 1,324 SF
Gross rent
$28.1K $21.24/SF
− Vacancy
−$1.6K −$1.19/SF
EGI
$26.5K $20.05/SF
− OpEx
−$8.0K −$6.02/SF
NOI
$18.6K $14.04/SF
Area
Rogers County, OK
Vacancy
5.60%
Lease Rate
$21.24 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$371,660
Cap Rate 7%
$265,471
Cap Rate 9%
$206,478
Alternative Uses
Best Use
Retail
$265.5K
$232.3K – $309.7K
NOI $18,583 @ 7.0% cap · market cap 5.63%
Second Best
Office B
$249.4K
$218.3K – $291.0K
NOI $17,461 @ 7.0% cap · market cap 5.29%
Theoretical Best
Specialty Retail
$331.6K
$290.2K – $386.9K
NOI $23,212 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
298
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 74015, OK
8,270
Population
3,578
Households
2.3
Avg Household Size
41
Median Age
22%
College-Educated
88%
High-School Grad
60.3 sq mi
ZIP Area
137
Density / Sq Mi
$72,688
Median Household Income
$44,256
Median Earnings
$1,052
Median Rent
$211,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Flex space - Corner commercial property with adaptable rooms, customer parking, and a separate insulated shop for storage or business operations.
Where is this flex space located?
The property is located at 601 S Cherokee St Catoosa, OK.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: 30' x 40' insulated shop constructed in 2019; Two full working overhead doors and electricity in the shop; Seven rooms, two full baths, and an open sitting area
