Building Details

Year built 1954

Listing Agency: LIME Realty J***@gmail.com Show Phone

Listed By: Kelly Heaton Show Phone

Added: Aug 28 Changed: Sep 18 Last Checked: Oct 18 at 8:06AM

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MLS# 1246815

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Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$12,045

Cap Rate

4.82%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$240,900 $240.9K

Cap Rate 7%

$172,071 $172.1K

Cap Rate 9%

$133,833 $133.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,426 SF

Gross rent

$23.1K $16.20/SF

− Vacancy

−$1.2K −$0.84/SF

EGI

$21.9K $15.36/SF

− OpEx

−$9.9K −$6.91/SF

NOI

$12.0K $8.45/SF

Area

Oklahoma City, OK

Vacancy

5.20%

Lease Rate

$16.20 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$240,900

Cap Rate 7%

$172,071

Cap Rate 9%

$133,833

Alternative Uses

Best Use

Apartment 5plus

$172.1K

$150.6K – $200.8K (±1% cap)

NOI $12,045 @ 7.0% cap · market cap 4.82%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$487.7K

$426.7K – $569.0K (±1% cap)

NOI $34,138 @ 7.0% cap · market cap 13.66%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Commercial land

Suggested Use

Top Pick Real Estate Agency Dental Office Law Firm Gym & Fitness Center Parking Lot & Garage Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

561

Businesses Nearby

Explore this area Business Placement

Demographics for 73127, OK

27,007

Population

11,329

Households

2.4

Avg Household Size

32

Median Age

16%

College-Educated

76%

High-School Grad

11.3 sq mi

ZIP Area

2,390

Density / Sq Mi

$46,020

Median Household Income

$28,766

Median Earnings

$926

Median Rent

$139,200

Median Home Value

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Frequently Asked Questions

Where is this commercial land located?

The property is located at 2316 N Minnie Lane Oklahoma City, OK.

What is the asking price?

The asking price for this property is $250,000.