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

    Parkway Commons/Wireless way Oklahoma City, OK

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

    3.37-acre commercial land for medical or general office development.

    Type:LAND
    Lot size:
    3.37 Acres
    Added:
    Apr 25, 2024
    Days on Market:
    740
    Last Refresh:
    Apr 5 at 11:21 pm

    Property Features for Parkway Commons/Wireless way

    General Information

    Standard status
    Active
    Lot size
    3.37 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Craig Tucker
    Craig Tucker

    Listing agent Craig Tucker

    Listing office Price Edwards and Company - Oklahoma City

    Listing date Apr 25, 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 Price Edwards and Company - Oklahoma City

    Overview

    Parkway Commons Development Site

    This 3.3706-acre commercial land is a development site suitable for medical or general office use. Located at the confluence of two main roads within the Parkway Commons Development, the site offers a prime location. The net buildable land totals 1.3329 acres after accounting for the adjacent pond, easements, and building setbacks. The surrounding area features a mix of Class A general and medical buildings, restaurants, and Crossings Christian School. Mercy Hospital, the Heart Hospital, and the Integris Health Cancer Institute North are located approximately 1 mile west of the property. Other businesses in the immediate area include Orthopedic Spine Associates, Oklahoma Spine Hospital, Option One Infusions, Dobson Technologies, Mach Natural Resources, and Paycom.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

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

    Nearby Similar for Sale

    • $1,000,000
      10,588 SF

      Versatile Commercial Property, Oklahoma City

      Expansive commercial property near Downtown OKC, ideal for entertainment venue.
      1508 SE 25th Street, Oklahoma City, OK 73129
      View Details
    • $540,000
      3,597 SF

      Oklahoma City Commercial Opportunity

      Commercial property with high visibility and strong traffic flow.
      1045 SW 89th Street, Oklahoma City, OK 73139
      View Details
    • $1,550,000
      3,262 SF

      Turn-Key Medical Office Opportunity

      Free-standing medical office in South Oklahoma City/Moore trade area.
      2804 SW 134th Street, Oklahoma City, OK 73170
      View Details
    • $399,000
      4,750 SF

      Warehouse/Showroom with Fenced Yard

      4,750 SF light industrial warehouse/showroom with excellent accessibility.
      1825 W Main Street, Oklahoma City, OK 73106
      View Details
    • $3,000,000
      9,374 SF

      Oklahoma City Commercial Property

      Move-in ready facility suited for medical, school, or office use.
      14500 S Western Avenue, Oklahoma City, OK 73170
      View Details
    • $850,000
      1,719 SF

      Versatile Commercial Office Building

      Functional office building with expansion potential in central Oklahoma City.
      1220 NW 50th Street, Oklahoma City, OK 73118
      View Details
    • $1,200,000
      3,700 SF

      Oklahoma City Retail Opportunity

      Income-producing retail property with established liquor store and additional tenant.
      3637 N Pennsylvania unit: A, Oklahoma City, OK 73112
      View Details
    • $700,000
      1,891 SF

      Established Restaurant Building For Sale

      Successful Korean restaurant and building for sale in Midwest, OK.
      4517 S Sunnylane Rd, Midwest, OK 73135
      View Details
    • $490,000
      4,238 SF

      Oklahoma City Commercial Office Building

      Commercial office building for sale in Oklahoma City, Oklahoma.
      1212 S Air Depot Boulevard unit: 17 & 19, Oklahoma City, OK 73110
      View Details
    • $650,000
      4,710 SF

      Income-Producing Restaurant and Retail Buildings

      Two buildings with long-term tenants and high-visibility signage.
      2415 SW 59 Street, Oklahoma City, OK 73119
      View Details
    • $850,000
      9,438 SF

      12-Unit Multifamily Investment Opportunity

      Stable cash flow with value-add potential in Oklahoma City.
      521 SW 24th Street, Oklahoma City, OK 73109
      View Details
    • $475,000
      2,940 SF

      Oklahoma City Duplex Investment Opportunity

      Two duplexes in Oklahoma City's urban core. Turnkey investment.
      2701 NW 16th Street, Oklahoma City, OK 73107
      View Details

    FAQs

    What type of property is this?
    Commercial land - 3.37-acre commercial land for medical or general office development.
    Where is this commercial land located?
    The property is located at Parkway Commons/Wireless way Oklahoma City, OK.
    What is the asking price?
    The asking price for this property is $1,160,000.
    What are key features of this property?
    This property features: Prime location at the confluence of two main roads in Parkway Commons Development.; 3.3706 total acres with **1.3329 net buildable acres.**; Surrounded by Class A general and medical buildings, restaurants, and Crossings Christian School.
    (405) 641-3218 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Craig Tucker
    Craig Tucker
    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

    Thank You for Inquiry

    Parkway Commons/Wireless way , Oklahoma City, OK

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!