Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1500 S George Nigh Expy McAlester, OK 74501

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

    5.15 acres of commercial land with highway visibility.

    Type:Land
    Lot size:
    5.15 Acres
    Added:
    Aug 10, 2023
    Days on Market:
    989
    Last Refresh:
    Mar 17 at 1:24 pm

    Property Features for 1500 S George Nigh Expy

    General Information

    Standard status
    Active
    Lot size
    5.15 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Wil Scofield

    Listing agent Wil Scofield License #205995

    Listing office CBRE - Oklahoma City

    Listing date Aug 10, 2023

    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 CBRE - Oklahoma City

    Overview

    Commercial Land on South George Nigh

    This 5.15-acre commercial land is available in McAlester, OK. The retail land offers visibility to the South George Nigh Expressway (Highway 69) and is near McAlester Regional Airport and various retail establishments. McAlester features two historic districts and 16 public parks, a golf course, and proximity to Lake Eufaula, which provides opportunities for boating, water skiing, swimming, four-wheeling, fishing, and hunting. This location attracts visitors and offers opportunities for retail businesses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Narconon Mcalester Medical Clinic

    Suggested Use

    Real Estate Agency Restaurant Dental Office Building Supply Big Box & Wholesale Store Auto Repair Shop Pharmacy Gym & Fitness Center Auto Parts Store Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    McAlester
    County
    Pittsburg
    State
    Oklahoma
    Longitude
    -95.777157
    Latitude
    34.890736

    Nearby Similar for Sale

    • $390,000
      1,200 SF

      Versatile Commercial Property in McAlester

      Prime investment opportunity with retail and drive-through potential.
      1226 Main Street, McAlester, OK 74501
      View Details
    • $1,699,500
      10,809 SF

      Versatile Commercial Property in McAlester

      1.74 acres with 10,809 sq ft industrial building.
      1631 S US Hwy 69, McAlester, OK 74501
      View Details
    • $299,000
      2,914 SF

      Income-Producing Commercial Opportunity

      Dual-suite building ideal for multi-tenant operation or owner-user occupancy.
      729 S 6th Street, McAlester, OK 74501
      View Details
    • $249,900
      5,100 SF

      Versatile Commercial Building Near Downtown

      Flex space with shop, warehouse, retail/office potential.
      1 W Choctaw Ave, McAlester, OK 74501
      View Details
    • $1,900,000

      Prime Retail Corridor Development Land

      6.88-acre development opportunity in McAlester's growing retail corridor.
      Peaceable Road, McAlester, OK 74501
      View Details
    • $225,000
      2,000 SF

      Versatile Commercial Building in McAlester

      2,000 sq ft commercial building with storefront and shop.
      438 S Main Street, McAlester, OK 74501
      View Details
    • $770,000

      Ranch Tract with Ponds & Barn

      220+/- acre ranch with ponds and a 50x40 barn.
      W Wolfhunters Lane, McAlester, OK 74501
      View Details
    • $250,000
      30,467 SF

      McAlester City Block Opportunity

      2.44 acres in McAlester with state and federal tax incentives.
      1401 E Cherokee Avenue, McAlester, OK 74501
      View Details
    • $160,000
      4,480 SF

      McAlester Shop on Large Lot

      Large shop on 0.66 acres, ideal for work or business.
      810 N A St, McAlester, OK 74501
      View Details
    • $69,900
      240 SF

      Charming Historic Gas Station

      Updated gas station on corner lot in historic McAlester.
      2654 N Main Street, McAlester, OK 74501
      View Details
    • $250,000

      McAlester Land with Historic Building

      2.44 acres in McAlester with historic school building.
      1401 E Cherokee Ave, McAlester, OK 74501
      View Details
    • $560,000

      McAlester Land: Hunting & Grazing

      Scenic 160+/- acre tract perfect for hunting and grazing.
      W Wolfhunters Lane, McAlester, OK 74501
      View Details

    FAQs

    What type of property is this?
    Commercial land - 5.15 acres of commercial land with highway visibility.
    Where is this commercial land located?
    The property is located at 1500 S George Nigh Expy McAlester, OK.
    What are key features of this property?
    This property features: 5.15 acres of commercial land with **high visibility** on South George Nigh Expressway (Highway 69).; Close proximity to McAlester Regional Airport and various retail establishments.; Located at the gateway to McAlester, attracting visitors from across Oklahoma.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Wil Scofield
    Real Estate License ID: 205995
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!