Muskogee Commercial Property on
For Sale
$379,500
627 S 32nd Street, Muskogee, OK 74401
COMMERCIAL - Muskogee, OK
Property Size2,310 SF
Lot Size0.36 Acres
Price / SF$164.29
Days on Market156
Property Features for 627 S 32nd Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
E1
Exterior features
Pole Sign
Subdivision
Elmwood Place
Elementary school district
Muskogee - Sch Dist (K5)
Middle school district
Muskogee - Sch Dist (K5)
High school district
Muskogee - Sch Dist (K5)
Directions
From Highway 69 (32nd Street) in Muskogee & West Okmulgee, go South on Hwy 69 to property on your right (south) side of road. Property sits just before the intersection of Hwy 69 & Arline.
Standard status
Active
APN
510012231
Size
2,310 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 7 BLOCK 2 Elmwood Place
Tax Annual Amount
3169
Legal Description
LOT 7 BLOCK 2 Elmwood Place
Utilities
Heating system
Space Heater
Building Details
Year built
1984
Flooring type
Concrete
Building materials
Brick
Roof type
Metal
Listing Agency:
Interstate Properties, Inc.
(918) 682-1119
Listed By:
Earnie Gilder · License #45081
(918) 781-9197
Added: Mar 18
Changed: Aug 4
Last Checked: Aug 20 at 3:06PM
MLS# 2609690
Copyright © 2026 MLS Technology, 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 highly visible commercial property is located in Muskogee, Oklahoma, and features 140 feet of frontage along Highway 69. The property is currently a fully functional oil lube and repair shop, suitable for continued automotive use. The building includes two drive-thru bays with undercarriage access designed for oil changes and similar services. The south end of the building has two overhead doors, providing access for vehicle repairs or detailing. One side of the larger space is equipped with a car lift to facilitate repairs. The property is situated in an excellent location with high daily traffic traveling north and south through Muskogee. The building has a total area of 2310 square feet and is situated on a 0.357-acre lot. All equipment is included in the purchase. The property is zoned E1.
Key Highlights
- High‑visibility commercial property with 140 ft frontage on Hwy 69.
- Fully functional oil lube & repair shop with equipment included.
- Two drive‑thru bays with undercarriage access.
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
$23,624
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
6.23%
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%
$472,480
$472.5K
Cap Rate 7%
$337,486
$337.5K
Cap Rate 9%
$262,489
$262.5K
Market Conditions
NOI Build-Up for 2,310 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
$34.7K $15.00/SF
− Vacancy
−$901 −$0.39/SF
EGI
$33.7K $14.61/SF
− OpEx
−$10.1K −$4.38/SF
NOI
$23.6K $10.23/SF
Area
Muskogee County, OK
Vacancy
2.60%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$472,480
Cap Rate 7%
$337,486
Cap Rate 9%
$262,489
Alternative Uses
Best Use
Retail
$337.5K
$295.3K – $393.7K
NOI $23,624 @ 7.0% cap · market cap 6.23%
Second Best
Industrial
$165.8K
$145.1K – $193.4K
NOI $11,604 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$483.5K
$423.1K – $564.1K
NOI $33,845 @ 7.0% cap · market cap 8.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Service bays
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
632
Businesses Nearby
100k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 79%
Shops & Services 20%
Hotels & Casinos 1%
McDonald's
Dining
27,332 visits/mo
0.5 miles
Braum's Ice Cream & Dairy Stores
Dining
26,536 visits/mo
0.1 miles
Casey's
Shops & Services
20,147 visits/mo
0.1 miles
Wendy's
Dining
13,430 visits/mo
0.3 miles
Arby's
Dining
7,747 visits/mo
0.2 miles
Demographics for 74401, OK
16,181
Population
7,818
Households
2.1
Avg Household Size
40
Median Age
16%
College-Educated
85%
High-School Grad
110.9 sq mi
ZIP Area
146
Density / Sq Mi
$39,767
Median Household Income
$32,700
Median Earnings
$827
Median Rent
$122,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- GUARDIAN INTERLOCK OF MUSKOGEE — 806 S 32nd St, Muskogee, OK 74401
- Legendary Lube and Oil — 627 S 32nd St, Muskogee, OK 74401
- Crowder Auto Glass — 1109 S 23rd St, Muskogee, OK 74401
- EM Express Tire Shop LLC #2 — 500 S 32nd St, Muskogee, OK 74401
Frequently Asked Questions
What type of property is this?
Auto shop - Functional oil lube and repair shop on a highway.
Where is this auto shop located?
The property is located at 627 S 32nd Street Muskogee, OK.
What is the asking price?
The asking price for this property is $379,500.
What are key features of this property?
This property features: High‑visibility commercial property with **140 ft frontage on Hwy 69.**; Fully functional oil lube & repair shop with equipment included.; Two drive‑thru bays with undercarriage access.
