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    1110 Sherwood Ln, Unit 216 Nichols Hills, OK 73116

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    For Sale
    $319,900

    Income-producing condo with tenant in place through November 2026.

    Property Features for 1110 Sherwood Ln

    General Information

    Standard status
    Active
    Exterior features
    Deck, Pool, Electricity Available, Public, Composition
    Interior features
    Central Elec, Central Electric, Dishwasher, Disposal, Microwave, Refrigerator, Washer/Dryer

    Building Details

    Year built
    1974

    We can help!

    Listing Contact
    Elham Tarkashvand
    Elham Tarkashvand
    Source: Kw

    Listing Agent: Elham Tarkashvand

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Renovated Condo in Nichols Hills

    Located in Nichols Hills, this renovated condominium offers a steady rental income stream. The property is currently leased at $1,850 per month through November 2026. The unit features 2 bedrooms and 2.5 bathrooms. It has been remodeled from the studs, including a new kitchen with quartz countertops and stainless steel appliances, new cabinetry and flooring, as well as updated HVAC, plumbing, and electrical systems. The open living area includes a balcony with views of Downtown OKC's Devon Tower. The executive suite includes two walk-in closets and a full en suite bath. There is a convenient upstairs laundry area. The bathrooms have been renovated with new tile, vanities, and fixtures. One designated covered parking spot is included. Community amenities feature a modernized pool area with new turf and gazebo. The HOA covers partial insurance, pool, maintenance of the grounds, and trash service. The property is located within walking distance to Trader Joe’s, Starbucks, Empire Slice, and Grand Blvd trails, with Whole Foods and Classen Curve just minutes away.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Spa & Massage Center Law Firm 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
    Nichols Hills
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.5332629
    Latitude
    35.5385597

    Nearby Similar for Sale

    • $319,900

      Nichols Hills Turnkey Condo Investment

      Fully renovated condo with tenant in place through August 2026.
      1110 Sherwood Ln, Nichols Hills, OK 73116
      View Details
    • $3,950,000
      28,184 SF

      Executive Office Building, Nichols Hills

      Prime Nichols Hills Office, 28,184 SF
      521 Wilshire Blvd, Nichols Hills, OK 73116
      View Details

    FAQs

    What type of property is this?
    Apartment building - Income-producing condo with tenant in place through November 2026.
    Where is this apartment building located?
    The property is located at 1110 Sherwood Ln, Unit 216 Nichols Hills, OK.
    What is the asking price?
    The asking price for this property is $319,900.
    What are key features of this property?
    This property features: - Leased through November 2026 at $1,850/month, providing immediate and steady rental income.; - Fully renovated from the studs, including new kitchen, bathrooms, HVAC, plumbing, and electrical systems.; - Located in the highly desirable Nichols Hills area, offering a prime location and strong tenant appeal.
    (512) 346-3550
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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
    1110 Sherwood Ln, Unit 216 Nichols Hills, OK 73116
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    We can help!
    Listing Contact
    Elham Tarkashvand
    Elham Tarkashvand
    Real Estate License ID: 0575674
    (512) 346-3550 (512) 789-5224
    Learn more
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