Add Listing
    For Lease
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1500 W I-240 Service Rd Oklahoma City, OK

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space available in a highly trafficked shopping center.

    Type:RETAIL
    Property size:
    1,485 SF
    Lot size:
    28.58 Acres
    Added:
    Nov 28, 2024
    Days on Market:
    518
    Last Refresh:
    Apr 5 at 9:41 pm

    Property Features for 1500 W I-240 Service Rd

    General Information

    Standard status
    Active
    Size
    1,485 SF
    Lot size
    28.58 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 1500 W I-240 Service Rd Contact us

    We can help!

    Listing Contact
    Mark Inman

    Listing agent Mark Inman

    Listing office CBRE | Oklahoma City

    Listing date Nov 28, 2024

    Source Moodyscre

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

    All listing content including descriptions, pricing, images are the copyrighted material of CBRE | Oklahoma City

    Overview

    Retail Space in High-Traffic Center

    This retail space is located within Southern Hills, a 202,427 square foot retail shopping center. The center is situated at the southeast corner of Interstate 240 and Pennsylvania Avenue, benefiting from high traffic. The available space measures 1,485 square feet. The shopping center features a range of retail co-tenants.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Similar Places Nearby

    • Holiday Pop-Up Shops — 399 NW 10th St, Oklahoma City, OK 73103
    • 8th Street Market — 3 NE 8th St, Oklahoma City, OK 73104
    • Sailor and The Dock — 617 W Sheridan Ave, Oklahoma City, OK 73102
    • The Cove Building — 224 E Main St, Oklahoma City, OK 73104
    • Coin Cloud Bitcoin ATM — 1100 W Reno Ave, Oklahoma City, OK 73106

    Map

    City
    Oklahoma City
    County
    Cleveland
    State
    Oklahoma
    Longitude
    -97.52
    Latitude
    35.47

    Nearby Similar for Lease

    • $5,000/Mo

      Oklahoma City Office Space For Lease

      Flexible office space in a convenient Oklahoma City location.
      207 E Memorial Road, Oklahoma City, OK 73131
      View Details
    • $3,900/Mo

      Modern Office Space Available

      Bright, well-maintained office space in Oklahoma City for rent.
      210 NW 10th Street, Oklahoma City, OK 73103
      View Details
    • $1,495/Mo

      Updated Commercial Space For Lease

      Recently updated 1,450 SF commercial space for lease.
      4409 N Meridian Avenue, Oklahoma City, OK 73112
      View Details
    • $2,375/Mo

      Office Space in Automobile Alley

      Ground floor office space near restaurants and boutique shops.
      20 NW 13th Street, Oklahoma City, OK 73103
      View Details
    • $1,900/Mo

      Oklahoma City Office Space Available

      Office space for lease in Santa Fe Square Office Park.
      6418 N Santa Fe Avenue unit: B & C, Oklahoma City, OK 73116
      View Details
    • $4,631/Mo

      Oklahoma City Commercial Space Available

      Versatile commercial property in high-visibility Oklahoma City location.
      8301 Glade Avenue, Oklahoma City, OK 73132
      View Details
    • $1,900/Mo

      Oklahoma City Office Space Available

      Office suites available for lease in Oklahoma City.
      6418 N Santa Fe Ave, Oklahoma City, OK 73116
      View Details
    • $1,150/Mo

      Office Space in Casady Square

      Office spaces with shared amenities in a high-traffic location.
      9251 N Pennsylvania Place, Oklahoma City, OK 73120
      View Details
    • $781/Mo

      Oklahoma City Commercial Space Available

      Flex space, industrial, warehouse, and office units for rent.
      3841 NW 10th Street, Oklahoma City, OK 73107
      View Details
    • $1,187/Mo

      Oklahoma City Commercial Space Available

      Office unit for rent in Oklahoma City, OK.
      3841 NW 10th Street, Oklahoma City, OK 73107
      View Details
    • $4,500/Mo

      Oklahoma City Office Space Available

      Office space in a sought-after Oklahoma City location.
      1630 SW 122nd Street unit: A, Oklahoma City, OK 73170
      View Details
    • $4,000/Mo

      Oklahoma City Commercial Space For Lease

      Spacious commercial area in South Oklahoma City with excellent visibility.
      4301 S Pennsylvania Avenue unit: Street Side, Oklahoma City, OK 73119
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail space available in a highly trafficked shopping center.
    Where is this shopping center located?
    The property is located at 1500 W I-240 Service Rd Oklahoma City, OK.
    What is the lease rate?
    The lease rate is $28 SF/Yr.
    What are key features of this property?
    This property features: Highly trafficked retail shopping center.; Located at the southeast corner of Interstate 240 and Pennsylvania Avenue.; Total area of 202,427 square feet.
    (405) 607-6272 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Mark Inman
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!