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    7121 E. Reno Avenue Midwest City, OK 73110

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    Sponsored
    Source: https://www.naisullivangroup.com
    For Sale
    $650,000

    Prime 1.33-acre lot, high visibility.

    Property size:
    57,934 SF

    Property Features for 7121 E. Reno Avenue

    General Information

    Property type
    Other land
    Square Feet
    57,934 SF
    Price / Square Foot
    $11
    Elevators
    N/A
    Net Rentable
    57,934 SF
    Lot Size
    57,935 SF

    Overview

    Prime Commercial Lot in Midwest

    This 1.33-acre commercial land parcel is located at the intersection of Reno and Air Depot in Midwest City, Oklahoma. The property is zoned C-3, allowing for a range of commercial development possibilities. Situated across the street from a Crest Grocery Store, the location benefits from high foot traffic. The property is located on a hard corner at a well-lit intersection. The property's size of 1.33 acres provides ample space for development. The property is located in zip code 73110.

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    Listing Contact
    David Hartnack

    Learn more

    Property Insight Report

    HighLights

    • Prime 1.33‑acre commercial lot in Midwest City, OK, priced at $650,000.
    • High‑visibility location at Reno & Air Depot intersection, offering excellent development potential.
    • C‑3 zoning and proximity to Crest Grocery store create strong retail opportunities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Restaurant Real Estate Agency 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
    State
    Oklahoma
    Longitude
    -97.403289
    Latitude
    35.464424

    Nearby Comparable

    • $650,000

      Development Opportunity Near Reno Avenue

      Land available near Reno Avenue and Air Depot intersection.
      7121 E Reno Ave, Midwest City, OK 73110
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    • $650,000

      Development Opportunity Near Reno Avenue

      Commercial land for sale near Reno & Air Depot Intersection.
      7121 E Reno Ave, Oklahoma City, OK 73110
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    • $900,000
      1.33 Acres

      Midwest City Commercial Land

      Prime 1.33-acre C-3 zoned lot. High-traffic location.
      7121 Reno Ave, Midwest City, OK 73110
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    • New
      $450,000
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      Retail Space on High-Traffic Corridor

      Retail space with utilities included and pylon signage available.
      7101-7117 E Reno Ave, Oklahoma City, OK 73110
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      4,162 SF

      Retail Space Near Air Force Base

      Retail property with high traffic exposure near Tinker Air Force Base.
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      Turnkey Car Wash For Sale

      Operating car wash with equipment included, located in Midwest City.
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      Midwest City Restaurant - For Sale

      Free-standing restaurant, high traffic area. Excellent investment.
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      Restaurant Space Near Tinker AFB

      Restaurant space with drive-thru near Tinker Air Force Base.
      409 S Air Depot Blvd, Oklahoma City, OK 73110
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    • $3,550,000

      Commercial Land on Reno Avenue

      Commercial land with potential for build to suit development.
      6607 W Reno Ave, Oklahoma City, OK 73110
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    Nearby Similar for Sale

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      Midwest City Office Building For Sale

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      Occupied Retail Center Near Air Force Base

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      NNN Leased Surf Bar Investment

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      Fully Occupied Retail Property

      Retail property for sale, 100% occupied.
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      Midwest City Retail Center Investment

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      Midwest City Office Building - $650K

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      Value-Add Potential on Oak Grove

      Property with value-add potential, community amenities, and strong location.
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    FAQs

    What type of property is this?
    Land - Prime 1.33-acre lot, high visibility.
    Where is this land located?
    The property is located at 7121 E. Reno Avenue Midwest City, OK.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: Prime 1.33-acre commercial lot in Midwest City, OK, priced at $650,000.; High-visibility location at Reno & Air Depot intersection, offering excellent development potential.; C-3 zoning and proximity to Crest Grocery store create strong retail opportunities.
    (405) 761-8955
    Request Owner's contact information
    7121 E. Reno Avenue Midwest City, OK 73110
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    Midwest City, OK 73110
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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
    7121 E. Reno Avenue Midwest City, OK 73110
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    We can help!
    Listing Contact
    David Hartnack
    (405) 761-8955
    Learn more
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