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    High-Visibility Retail Redevelopment Opportunity Title is generated by Realmo AI

    6212 SE 15th Street, Midwest City, OK 73110

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    Claim this Listing
    For Sale
    $550,000

    SINGLE_FAMILY - Midwest City, OK

    Type:Retail
    Property size:
    6,928 SF
    Lot size:
    1.14 Acres
    Price / SF:
    $79/SF
    Added:
    Mar 20, 2026
    Days on Market:
    50
    Last Refresh:
    May 8 at 7:06 pm

    Property Features for 6212 SE 15th Street

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Zoning
    Commercial
    Standard status
    Active
    APN
    6212SE15th73110
    Size
    6,928 SF
    Lot size
    1.14 Acres

    Building Details

    Year built
    1959

    We can help!

    Listing Contact
    Robert R Williams

    Listing agent Robert R Williams License #143285

    Listing office Salt Real Estate Inc 1508 W Edmond RD, Edmond, OK

    Listing date Mar 20, 2026

    MLS# 1220283

    Copyright © 2026 MLSOK, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • High‑visibility location on heavily traveled SE 15th Street corridor.
    • Located in a proven retail corridor with strong surrounding national retailers like Home Depot, Academy Sports, Hobby Lobby, and Walmart.
    • Value‑add investment opportunity offered at $10/SF (land value).
    • Adjacent to Rose State College, enhancing traffic and visibility.
    • Includes a 6,928 SF main building and a 956 SF freestanding structure.
    • Directly across the street from Warren Theatre, further enhancing traffic.

    Overview

    This commercial property offers a high-visibility retail or redevelopment opportunity in Midwest City. The site features a 6,928 square-foot main building and a 956 square-foot freestanding structure, situated along the heavily traveled SE 15th Street corridor. The property is located adjacent to Rose State College and benefits from its proximity to major national retailers, including Home Depot, Academy Sports + Outdoors, Hobby Lobby, and Walmart. Numerous dining options are nearby, such as Chick-fil-A, Olive Garden, Starbucks, and Wendy's, along with other restaurants and services. The Warren Theatre is located directly across the street, contributing to the area's traffic and visibility. The main building, while having experienced minor fire damage, remains structurally sound, presenting a renovation, repositioning, or redevelopment opportunity. The property is located in Oklahoma County and has a lot size of 1.1409 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Midwest City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.4153237
    Latitude
    35.4490693

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    FAQs

    What type of property is this?
    Retail space - High-exposure commercial property in active retail area near Rose State.
    Where is this retail space located?
    The property is located at 6212 SE 15th Street Midwest City, OK.
    What is the asking price?
    The asking price for this property is $550,000.
    What are key features of this property?
    This property features: High‑visibility location on heavily traveled SE 15th Street corridor.; Located in a proven retail corridor with strong surrounding national retailers like Home Depot, Academy Sports, Hobby Lobby, and Walmart.; Value‑add investment opportunity offered at $10/SF (land value).
    (405) 822-2877
    We can help!
    Listing Contact
    Robert R Williams
    Real Estate License ID: 143285
    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.

    More about this property
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    6212 SE 15th Street, Midwest City, OK 73110
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