Building Details

Year Built 1958

Buildings 1

Listing Agency: Interstate Properties Inc

Listed By: Earnie Gilder · License #OK Show Phone

Source: Crexi

Added: Sep 30, 2024 Changed: Oct 4 Last Checked: Oct 12 at 7:17PM

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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 Interstate Properties Inc

Investment Insights

Based on property information with market context.

This locally owned restaurant property, known for its steaks, is available for purchase. The 1,152-square-foot building includes all kitchen equipment, booths, a walk-in freezer, and a wood-burning oven. It features double drive-thru windows, one on the north and one on the south side. A storage building and a walk-in smoker are located on site. The menu will be provided. A new roof was installed in 2024. The seller would consider a lease.

Key Highlights

• Established restaurant known for remarkable steaks
• All kitchen equipment included, featuring a walk‑in freezer and wood‑burning oven
• Double drive‑thru windows

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$11,065

Cap Rate

5.67%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$221,300 $221.3K

Cap Rate 7%

$158,071 $158.1K

Cap Rate 9%

$122,944 $122.9K

Market Conditions

NOI Build-Up for 1,152 SF

Gross rent

$15.9K $13.80/SF

− Vacancy

−$1.1K −$0.99/SF

EGI

$14.8K $12.81/SF

− OpEx

−$3.7K −$3.20/SF

NOI

$11.1K $9.60/SF

Area

Muskogee County, OK

Vacancy

7.20%

Lease Rate

$13.80 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$221,300

Cap Rate 7%

$158,071

Cap Rate 9%

$122,944

Alternative Uses

Best Use

Specialty Retail

$158.1K

$138.3K – $184.4K (±1% cap)

NOI $11,065 @ 7.0% cap · market cap 5.67%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$241.1K

$211.0K – $281.3K (±1% cap)

NOI $16,879 @ 7.0% cap · market cap 8.66%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Conventional restaurants

Suggested Use

Top Pick Real Estate Agency Law Firm Building Supply HVAC Service Gym & Fitness Center Dental Office

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

283

Businesses Nearby

26k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 76% Dining 24%

Phillips 66 Shops & Services

11,366 visits/mo 0.1 miles

Pizza Inn Dining

6,232 visits/mo 0.1 miles

Bank Of Oklahoma - Muskogee Shops & Services

3,115 visits/mo 0.1 miles

Arvest Bank Shops & Services

2,229 visits/mo 0.5 miles

Advance Auto Parts Shops & Services

1,619 visits/mo 0.3 miles

Demographics for 74403, OK

29,419

Population

12,779

Households

2.3

Avg Household Size

40

Median Age

21%

College-Educated

88%

High-School Grad

109.7 sq mi

ZIP Area

268

Density / Sq Mi

$57,171

Median Household Income

$35,732

Median Earnings

$841

Median Rent

$145,400

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Well-equipped restaurant with drive-thru, smoker, and new roof.

Where is this conventional restaurant located?

The property is located at 1100 N York Street Muskogee, OK.

What is the asking price?

The asking price for this property is $195,000.

What are key features of this property?

This property features: Established restaurant known for remarkable steaks; All kitchen equipment included, featuring a walk‑in freezer and wood‑burning oven; Double drive‑thru windows