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

    7121 E Reno Avenue Midwest City, OK 73110

    View on Map
    Picture of Other land at 7121 E Reno Avenue, Midwest City, OK
    For Sale
    $650,000

    1.33 Acres Commercial Land For Sale - 7121 E. Reno Avenue

    Property size:
    57,935 SF
    Lot size:
    1.33 Acres
    Price / SF:
    $11/SF
    Added:
    Apr 3, 2025
    Days on Market:
    392
    Last Refresh:
    Mar 16 at 9:06 am

    Property Features for 7121 E Reno Avenue

    General Information

    Standard status
    Active
    Property type
    Other land, Commercial land, Residential land & home lots, Land
    Size
    57,935 SF
    Net Rentable
    57,935 SF
    Elevators
    N/A
    Lot size
    1.33 Acres

    We can help!

    Listing Contact
    David Hartnack

    Listing agent David License ##152924

    Listing office NAI RED Commercial Real Estate

    Listing date Apr 3, 2025

    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.
    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
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.3982
    Latitude
    35.4609

    Nearby Similar for Sale

    • $550,000
      6,928 SF

      High-Visibility Retail Redevelopment Opportunity

      High-exposure commercial property in active retail area near Rose State.
      6212 SE 15th Street, Midwest City, OK 73110
      View Details
    • $400,000
      1,978 SF

      Midwest City Retail Opportunity

      Retail space with high traffic and special use permit.
      400 S Air Depot Boulevard, Midwest City, OK 73110
      View Details
    • $400,000

      Prime Commercial Corner Lot

      2.5-acre commercial lot in Midwest City, ideal for development.
      11101 E Reno Avenue, Midwest City, OK 73130
      View Details
    • $1,250,000
      6,296 SF

      Premium Duplex Office Space

      Exceptional commercial duplex office space ideal for growing businesses.
      616 S Post Road, Midwest City, OK 73130
      View Details
    • $160,000

      3.38 Acres US-62 Frontage Land

      3.38 acres with US-62 frontage near Super Walmart.
      9632 NE 23rd Street, Midwest City, OK 73141
      View Details
    • $50,000

      Corner Lot in Midwest City

      Commercial corner lot with existing parking in established office park.
      8827 E Reno Avenue, Midwest City, OK 73110
      View Details
    • $650,000
      6,589 SF

      6,589 RSF on 0.86 Acres Office Building For Sale - 6520 E. Reno Avenue

      6,589 SF office building on 0.86 acres, 100% occupied.
      6520 E. Reno Avenue, Midwest City, OK 73110
      View Details
    • $2,042,245
      10,100 SF

      Occupied Retail Center Near Air Force Base

      Fully occupied retail center located near Tinker Air Force Base.
      2320-2340 S. Air Depot, Midwest City, OK
      View Details
    • $1,975,000
      24,253 SF

      Medical Office Space in Midwest

      Class A medical office space in a vibrant medical corridor.
      600 National Avenue, Midwest City, OK, 73110
      View Details
    • $1,000,000
      5,860 SF

      5,860 SF Rose Rock Center For Sale or Lease-111 N. Post Road

      Value-add retail center for sale or lease in Midwest City.
      101 N. Post Road, Midwest City, OK 73130
      View Details
    • $150,000

      Prime Land Near Sports Complex

      Land approved for development near Midwest City Sports Complex.
      2606 S Post Road, Midwest City, OK 73130
      View Details
    • $300,000
      3,720 SF

      Mixed-Use Building on Air Depot

      Adaptable mixed-use commercial building in Midwest City, Oklahoma.
      1819 S Air Depot Blvd, Midwest City, OK 73110
      View Details

    FAQs

    What type of property is this?
    Land - 1.33 Acres Commercial Land For Sale - 7121 E. Reno Avenue
    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.
    (405) 761-8955
    We can help!
    Listing Contact
    David Hartnack
    Real Estate License ID: #152924
    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!