500 Court StMuskogee, OK 74401

Property Details for 500 Court St

Year built

1960

Lot size

0.20 AC

Property size (Sq ft)

4,411 SF

Zone code

MI

Property type

Office buildings

APN

4610-26-014-006-1-014-13

APU

461026014006101413

Description

This stunning 8,822 square foot Art Deco building, constructed in 1960, presents a unique investment opportunity in the heart of Muskogee, Oklahoma's vibrant downtown. Situated on a 0.2-acre lot, this property boasts a rich history, having previously served as both a payment center and a law office. The building is currently awaiting a visionary owner to breathe new life into its elegant design and capitalize on its prime location. Its architectural details and spacious layout offer endless possibilities for adaptive reuse, catering to a variety of commercial ventures. The property's location within the Special Downtown Muskogee District opens doors to potential grant funding for renovations and upgrades, significantly reducing the cost of revitalization. This presents a compelling chance to contribute to the ongoing growth and development of Muskogee while securing a valuable asset. The building's proximity to Tulsa, less than an hour away, further enhances its appeal and accessibility. This is an exceptional opportunity to acquire a piece of Muskogee's history and shape its future. The asking price is $250,000. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $384,515

  6.5%

  $354,937

  7%

  $329,584

• Comparable approach

  Method

  Valuation

  Relative Method

  $315,519

  Geo Method

  $315,519

• Alternative Use

  Use

  Valuation

  Residential

  $440,122

  Hospitality

  $403,149

  Educational

  $335,415

  Medical

  $346,951

  Retail

  $521,757

Location Insight

City

Muskogee

County

Muskogee

State

Oklahoma

Latitude

35.752

Longitude

-95.3734

CBSA code

34780

CBSA name

MUSKOGEE, OK MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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