918 Wood DrOkmulgee, OK 74447

Property Details for 918 Wood Dr

Year built

1950

Lot size

0.24 AC

Property size (Sq ft)

424 SF

Property type

Motels

APN

1238-00-006-001-0-001-00

APU

123800006001000100

Description

This 14-key, independently branded economy hotel in Okmulgee, Oklahoma, presents a compelling value-add investment opportunity. Located at 918 S Wood Dr, Okmulgee, OK 74447, this single-story, exterior-corridor property sits on a 0.24-acre lot and includes 25 parking spaces. Built in 1943 and renovated in 2022, the hotel is zoned C/I and offers significant upside potential. The property is being sold free and clear of debt and management agreements, allowing for immediate operational control and strategic repositioning. Its proximity to key demand generators such as Tinker Air Force Base, Integris Health, the University of Oklahoma, and Oklahoma State University, ensures a consistent stream of potential guests. The asking price of $400,000 represents a substantial discount to replacement cost, given current construction expenses. This presents a unique chance to acquire a well-located asset with immediate cash flow and significant long-term growth prospects. The property's existing infrastructure and recent renovations provide a solid foundation for a new owner to implement their vision and maximize profitability. This is an exceptional opportunity for investors seeking a value-add play in the Oklahoma hospitality market.

• CAP approach

  CAP return

  Valuation

  6%

  $65,056

  6.5%

  $60,052

  7%

  $55,762

• Comparable approach

  Method

  Valuation

  Relative Method

  $71,272

  Geo Method

  $71,272

• Alternative Use

  Use

  Valuation

  Residential

  $65,559

  Hospitality

  $60,052

  Educational

  $49,962

  Medical

  $51,681

  Retail

  $77,719

Location Insight

City

Okmulgee

County

Okmulgee

State

Oklahoma

Latitude

35.6145

Longitude

-95.9621

CBSA code

46140

CBSA name

TULSA, OK METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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