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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    27970 Ok-51 Coweta, OK 74429

    • Land
    • 4.36 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 27970 Ok-51

    Lot size
    4.36 lot acres
    Property type
    Land

    Description

    This exceptional 4.36-acre commercial land parcel is strategically located on the east side of State Highway 51 in Coweta, Oklahoma, approximately half a mile south of 121st Street South. Zoned CG (General Commercial), this property presents a remarkable opportunity for various commercial ventures. City water and sanitary sewer services are readily available, enhancing its development potential. A newly established driveway provides convenient access from Hwy 51, secured by a mutual access agreement with the neighboring property. This high-traffic area sees over 20,000 vehicles daily on State Highway 51, ensuring significant visibility for any development. The property's location offers proximity to established businesses, including a Walmart Supercenter, Casey's, and McDonald's, further bolstering its commercial viability. While the adjacent 5-acre parcel, featuring a pond and creek, is under a conservation easement and unavailable for development, its potential for amenity integration (e.g., park, walking trails) could significantly enhance the value of this 4.36-acre lot. The seller may even transfer ownership of the adjacent 5 acres to the buyer of this property at minimal or no cost, presenting a unique advantage for office complex development. This property was created through Coweta Lot Split Application 23-7. The land is priced at $3.13 per square foot. This prime location and flexible development options make this a truly compelling investment opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Coweta
    County
    Wagoner
    State
    Oklahoma
    Longitude
    -95.6665
    Latitude
    35.9812

    Comparable in this City

    • Value Estimation by Request
      4.46 Acres

      13534 Ok 51

      Land • 4.46 Acres
      13534 Ok 51, Coweta, OK 74429
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    • Value Estimation by Request
      276 SF

      68615 141st S St

      COMMERCIAL (GENERAL) • 276 SF
      68615 141st S St, Coweta, OK 74429
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    • Value Estimation by Request
      2.02 Acres

      28342 141st S St

      COMMERCIAL (GENERAL) • 2.02 Acres
      28342 141st S St, Coweta, OK 74429-6581
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    • Value Estimation by Request
      18.56 Acres

      Coweta, OK 74429

      VACANT COMMERCIAL LAND • 18.56 Acres
      Coweta, OK 74429
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    • Value Estimation by Request
      0.90 Acres

      Coweta, OK 74429

      VACANT COMMERCIAL LAND • 980 SF
      Coweta, OK 74429
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    • Value Estimation by Request
      0.11 Acres

      Coweta, OK 74429

      VACANT COMMERCIAL LAND • 1,062 SF
      Coweta, OK 74429
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    27970 Ok-51
    Coweta, OK 74429
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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.

    More about this property
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