Highway-Access Auto
For Sale
$300,000
W Old Highway 33, Drumright, OK 74030
Commercial, Drumright, OK
Property Size5,000 SF
Lot Size3.82 Acres
Price / SF$60
Days on Market47
Property Features for W Old Highway 33
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
UC
Elementary school district
Drumright - Sch Dist (45)
Middle school district
Drumright - Sch Dist (45)
High school district
Drumright - Sch Dist (45)
Directions
From Drumright, travel east on Hwy 33 (Truck Bypass). The property is located on the north side of Hwy 33 with direct highway frontage and access from Hwy 33.
Standard status
Active
APN
9999-04-017-007-0-015-00
Size
5,000 SF
Lot size
3.82 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
See Attached
Tax Annual Amount
2029
Legal Description
See Attached
Utilities
Heating system
Space Heater
Cooling system
Central Air
Building Details
Year built
2004
Building materials
Steel
Roof type
Metal
Listing Agency:
Keller Williams Advantage · Keller Williams Realty
(918) 712-2252
Listed By:
BC Flanigan · License #211205
(918) 409-1603
Added: Jul 23
Changed: Aug 19
Last Checked: Sep 7 at 7:06AM
MLS# 2626260
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 auto shop property includes 3.82 acres and a 5,000-square-foot pre-engineered steel building constructed in 2004. The existing layout includes a service repair garage, overhead doors, and shop space, with room identified for office use. Central air and space-heater systems serve the building, which has a metal roof.
The property has direct access to Highway 33 in Drumright and is zoned UC, or Urban Commercial. The site and building are suited to contractor operations, equipment storage, warehouse use, building trades, or other uses permitted under the zoning. The property is offered in its current as-is condition.
The property has direct access to Highway 33 in Drumright and is zoned UC, or Urban Commercial. The site and building are suited to contractor operations, equipment storage, warehouse use, building trades, or other uses permitted under the zoning. The property is offered in its current as-is condition.
Key Highlights
- 3.82‑acre commercial service property
- 5,000 SF pre‑engineered steel building
- Direct access to Highway 33
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
$25,853
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
8.62%
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%
$517,060
$517.1K
Cap Rate 7%
$369,329
$369.3K
Cap Rate 9%
$287,256
$287.3K
Market Conditions
NOI Build-Up for 5,000 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
$42.0K $8.40/SF
− Vacancy
−$2.2K −$0.45/SF
EGI
$39.8K $7.95/SF
− OpEx
−$13.9K −$2.78/SF
NOI
$25.9K $5.17/SF
Area
Creek County, OK
Vacancy
5.30%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
35.00%
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%
$517,060
Cap Rate 7%
$369,329
Cap Rate 9%
$287,256
Alternative Uses
Best Use
Warehouse
$417.0K
$364.8K – $486.5K
NOI $29,187 @ 7.0% cap · market cap 9.73%
Second Best
Flex RnD
$369.3K
$323.2K – $430.9K
NOI $25,853 @ 7.0% cap · market cap 8.62%
Theoretical Best
Office A
$1.23M
$1.08M – $1.43M
NOI $86,069 @ 7.0% cap · market cap 28.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 74030, OK
3,529
Population
1,675
Households
2.1
Avg Household Size
41
Median Age
12%
College-Educated
89%
High-School Grad
69.4 sq mi
ZIP Area
51
Density / Sq Mi
$42,208
Median Household Income
$37,839
Median Earnings
$523
Median Rent
$90,100
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Auto shop - Service garage with overhead doors, shop space, and office potential.
Where is this auto shop located?
The property is located at W Old Highway 33 Drumright, OK.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 3.82‑acre commercial service property; 5,000 SF pre‑engineered steel building; Direct access to Highway 33
