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    E County Road 48 Gage, OK 73843

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    Claim this Listing
    For Sale
    Under Contract
    $717,000

    Farm/Ranch/Land 10+ Acres - Gage, OK

    Type:Farm
    Lot size:
    478.00 Acres
    Added:
    Feb 26, 2026
    Days on Market:
    69
    Last Refresh:
    May 6 at 12:06 am

    Property Features for E County Road 48

    General Information

    Property type
    Farm
    Property subtype
    Farm
    Zoning
    Ag
    Standard status
    Active Under Contract
    Lot size
    478.00 Acres

    Taxes and HOA fees

    Tax Annual Amount
    727

    Building Details

    Architectural style
    Ranch

    We can help!

    Listing Contact
    Ira Smith

    Listing agent Ira Smith License #070869

    Listing office Smith & Co Auction & Realty Inc 1102 Oklahoma, Woodward, OK

    Listing date Feb 26, 2026

    MLS# 20260232 Listing URL

    Copyright © 2026 Northwest Oklahoma Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Farm/Ranch Land with Hunting Potential

    This property features approximately 478 acres of farm ground with potential for deer and quail hunting. Exterior and interior fences are in place. The land is located at the northwest corner of County Road 185 and 48. A water well was redrilled approximately two years ago. There are three fenced fields of cropland, including approximately 66.08 acres in the northwest quarter, a 51-acre tract, and a 68-acre tract in the southeast quarter. Two water wells are present on the property, one in the center of the northwest quarter and the other in the southeast quarter. The land includes trees and a small pond, attracting deer. The farm ground can provide hay for cattle or serve as a food plot area for wildlife. The property has good access and is located off Highway 15 on blacktop County Road 48, in Gage, OK.
    Location Intelligence

    Current Use by Public Records

    Farms

    Map

    City
    Gage
    County
    Ellis
    State
    Oklahoma
    Longitude
    -99.7494
    Latitude
    36.2857

    Nearby Similar for Sale

    • $115,000

      80 Acres of Oklahoma Land

      80-acre grass tract with highway access near Gage, Oklahoma.
      Highway 64 & CR 44, Gage, OK 73843-0000
      View Details
    • $260,000

      Land with Cropland and Grass

      159.28 acres with cropland and native grass near Catesby, OK.
      E CR 37 & S CR 169, Catesby, OK 73843-0000
      View Details

    FAQs

    What type of property is this?
    Farm - 478 acres of farm ground with hunting and water wells.
    Where is this farm located?
    The property is located at E County Road 48 Gage, OK.
    What is the asking price?
    The asking price for this property is $717,000.
    What are key features of this property?
    This property features: 478 +/- acres of farm ground offering excellent deer and quail hunting potential.; **66.08 +/- acres of cropland on the NW/4**, plus additional cropland in the SE/4, all fenced.; Two water wells on the property, one in the center of NW/4 and one in the SE/4.
    (580) 334-6001
    We can help!
    Listing Contact
    Ira Smith
    Real Estate License ID: 070869
    Learn More
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    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.

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