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Property profile & analytics
FOR SALE
Flex space
215 N Western Ave Oklahoma City, OK 73106
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US69-0045308
For Sale
1 / 19
$1,075,000
215 N Western Ave, Oklahoma City, OK 73106
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Property summary
AI-generated overview
This single-tenant industrial property, located at 215 N Western Ave in Oklahoma City, OK 73106, offers 8,820 square feet of warehouse space situated on a 14,000 square foot lot. Built in 1908, the building features ceiling heights ranging from 12 to 16 feet, providing ample vertical space for storage or operations. The property includes one dock-high door and three drive-in doors, ensuring efficient loading and unloading capabilities. Power is supplied by a 3-phase, 400 AMP electrical system. The property is zoned I-2 (Moderate Industrial), allowing for a variety of industrial uses. Its location in west downtown Oklahoma City offers convenient access to I-40, providing excellent connectivity to the broader Oklahoma City metro area and beyond. The vacant building presents a unique opportunity for businesses seeking a versatile industrial space with potential for warehouse, distribution, manufacturing, retail, office, or showroom applications. The property's size and features make it suitable for a range of industrial and commercial uses.
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1908
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
8,820 SF
Lot
0.32 ac (13,983 SF)
APN
01-496-3230
UPID
US69-0045308
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Craver Supply Department Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.47M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$943k
Blend (final)
Blend
$1.50M
Owner & transaction history
Rae Okc LLC · 5 yrs held
Rae Okc LLC
since 2020
Last sale
$1.5M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.4M
+92.4%
Auto repair, garage
$1.3M
+83.2%
Commercial (general)
$1.2M
+69.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Oklahoma City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Oklahoma City submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,500,000
ML approach
$1,470,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,375,000
Change: +92% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,310,000
Change: +83% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,215,000
Change: +70% · Conversion: Difficult
OFFICE BUILDING
$1,130,000
Change: +58% · Conversion: Difficult
RETAIL STORES
$1,090,000
Change: +52% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$1,000,000
Change: +40% · Conversion: Difficult
Blend value · Realmo final
$1.50M
Range $1.35M – $1.64M · ±10% · vs last sale $1.50M (Oct 12 2020)
Last sale anchor
$1.50M
Oct 12 2020
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$170 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$5,769
Tax year 2023
Assessed value
$46,973
Assessed 2023
Previous assessed
$46,973
+0.0% YoY
Effective rate
12.28%
On assessed value
Assessed land
$4,620
Assessed improvement
$42,353
Land market value
$42,000
Improvement market value
$385,030
Total market value
$427,030
Applied tax rate
200.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Status
For Sale
Year built
1908
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Units
1
Total area
8,820 SF
Lot
0.32 ac (13,983 SF)
APN
01-496-3230
UPID
US69-0045308
Jurisdiction
OKLAHOMA
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.1M
RETAIL STORES
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.0M
MEDICAL BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
OFFICE BUILDING
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1908
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Units
1
Lot
0.32 ac
Current owner
From public records · entity-resolved
Rae Okc LLC
Entity
Mailing address
3750 W 7TH ST, FT WORTH, TX 76107-2547
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 12, 2020
$1,500,000
Rae Okc LLC
Wood Creations By Rod LLC
Warranty Deed
$1,005,000 · First National Bank Of Oklahoma
Aug 24, 2020
—
Wood Creations By Rod LLC
—
Deed
related
$50,440 · First United Bk
Jun 26, 2018
—
Wood Creations By Rod LLC
—
Deed
related
$50,440 · First United Bank & Trust Co
Jun 30, 2017
—
Wood Creations By Rod LLC
—
Deed
related
$25,000 · First United Bk
May 14, 2015
—
Wood Creations By Rod LLC
—
Trustees Deed
related
$25,000 · First United Bk
May 23, 2013
$270,000
Wood Creations By Rod LLC
Storage 7000 LLC
Warranty Deed
$216,000 · Storage 7000 LLC
Oct 26, 2009
—
Storage 7000 LLC
Street Signs Ministry LLC
Grant Deed
related
—
—
—
Wood Creations By Rod LLC
—
Deed Of Trust
related
$207,500 · First United Bk
—
—
Wood Creations By Rod LLC
—
Loan Modification
related
$25,000 · First United Bk
—
—
Wood Creations By Rod LLC
—
Loan Modification
related
$50,440 · First United Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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