Car Wash Facility with 6
For Sale
$239,000
700 W Cherokee Street, Wagoner, OK 74467
Commercial, Wagoner, OK
Property Size2,622 SF
Lot Size0.55 Acres
Price / SF$91.15
Days on Market117
Property Features for 700 W Cherokee Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
URBAN COMM
Subdivision
Wagoner OT
Elementary school district
Wagoner - Sch Dist (31)
Middle school district
Wagoner - Sch Dist (31)
High school district
Wagoner - Sch Dist (31)
Directions
The corner of (Hwy 51) Cherokee Street and N Taylor Ave
Standard status
Active
APN
730020590
Size
2,622 SF
Lot size
0.55 Acres
Taxes and HOA fees
Tax Year
2022
Tax Description
CITY OF WAGONER E 150' OF S 160.8 FT OF LOT 4 BLK 321
Tax Annual Amount
2152
Legal Description
CITY OF WAGONER E 150' OF S 160.8 FT OF LOT 4 BLK 321
Building Details
Year built
1982
Building materials
Brick
Roof type
Metal
Listing Agency:
Realty One Group Dreamers
(539) 367-1555
Listed By:
Jimmy Martin Jr · License #202695
(918) 906-5987
Added: May 5
Changed: Aug 19
Last Checked: Aug 29 at 1:06AM
MLS# 2616354
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 car wash facility is configured with six bays, including one automatic bay, and includes three high-performance commercial vacuums. The property is listed for sale as a self-contained automotive wash operation.
Situated at 700 W Cherokee Street in Wagoner, Oklahoma, the site offers approximately 150 feet of highway frontage. The property size is 2,622 square feet on a 0.554-acre lot, and it is zoned URBAN COMM.
Designed for on-site customer use, the bay-and-vacuum setup supports a streamlined car wash workflow with automated and manual service options within the existing improvements.
Situated at 700 W Cherokee Street in Wagoner, Oklahoma, the site offers approximately 150 feet of highway frontage. The property size is 2,622 square feet on a 0.554-acre lot, and it is zoned URBAN COMM.
Designed for on-site customer use, the bay-and-vacuum setup supports a streamlined car wash workflow with automated and manual service options within the existing improvements.
Key Highlights
- High‑traffic location ideal for a lucrative business venture.
- 150 feet of highway frontage provides excellent visibility.
- Six bays offer high capacity for car washing services.
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
$12,605
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
5.27%
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%
$252,100
$252.1K
Cap Rate 7%
$180,071
$180.1K
Cap Rate 9%
$140,056
$140.1K
Market Conditions
NOI Build-Up for 2,622 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
$18.6K $7.08/SF
− Vacancy
−$557 −$0.21/SF
EGI
$18.0K $6.87/SF
− OpEx
−$5.4K −$2.06/SF
NOI
$12.6K $4.81/SF
Area
Wagoner County, OK
Vacancy
3.00%
Lease Rate
$7.08 /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%
$252,100
Cap Rate 7%
$180,071
Cap Rate 9%
$140,056
Alternative Uses
Best Use
Specialty Retail
$420.7K
$368.1K – $490.8K
NOI $29,450 @ 7.0% cap · market cap 12.32%
Second Best
Retail
$414.1K
$362.3K – $483.1K
NOI $28,985 @ 7.0% cap · market cap 12.13%
Theoretical Best
Office A
$618.5K
$541.2K – $721.6K
NOI $43,294 @ 7.0% cap · market cap 18.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
349
Businesses Nearby
Explore this area
Business Placement
Demographics for 74467, OK
13,981
Population
6,826
Households
2
Avg Household Size
44
Median Age
20%
College-Educated
88%
High-School Grad
154.1 sq mi
ZIP Area
91
Density / Sq Mi
$58,398
Median Household Income
$39,350
Median Earnings
$852
Median Rent
$149,500
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.
Frequently Asked Questions
What type of property is this?
Self service car wash - Car wash facility with six bays, including an automatic bay, plus three commercial vacuums.
Where is this self service car wash located?
The property is located at 700 W Cherokee Street Wagoner, OK.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: High‑traffic location ideal for a lucrative business venture.; 150 feet of highway frontage provides excellent visibility.; Six bays offer high capacity for car washing services.
