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    1501 Exchange Ave Oklahoma City, OK 73108

    Sponsored
    For Sale
    $3,740,000

    Prime OKC location, stunning skyline views.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    409
    This exceptional 5.2-acre (approximately 226,512 sq ft) commercial and industrial land parcel in Oklahoma City presents a remarkable development opportunity. Located at 1501 Exchange Ave, 73108, this property boasts breathtaking views of the Oklahoma City skyline and the Oklahoma River. Currently zoned for industrial use, a rezoning application for Planned Unit Development (PUD) is underway, with anticipated approval by August 2024. The land is ideally situated next to the Oklahoma University boathouse, offering excellent visibility from I-40. The site plan envisions a mixed-use development, potentially including condominiums or apartments with rooftop amenities such as a clubhouse, fitness center, swimming pool, dog park, and pickleball courts. A restaurant concept with a full bar and live music venue is also under consideration, subject to city approval. The property's strategic location provides easy access to the Oklahoma River trail, and is within minutes of downtown OKC, Bricktown, the Arts District, numerous restaurants and hotels, and other key attractions. Furthermore, its location within the OKC Empowerment Zone offers significant tax incentives and benefits for qualifying businesses, including wage credits, bond financing, and tax deductions. The asking price is $3,740,000, with a land value of $16.50 per square foot. This is a rare chance to acquire a premier development site in a rapidly growing area of Oklahoma City.

    Property Features for 1501 Exchange Ave

    General Information

    Property type
    Land

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    Listing Contact
    Ed Martin
    Ed Martin

    Learn more

    Property Insight Report

    HighLights

    • High‑visibility location on Exchange Ave, adjacent to the Oklahoma City River and OU boathouse, with excellent I‑40 exposure.
    • Multiple curb cuts, sidewalks, and bike trail access provide ample ingress/egress from Exchange Ave.
    • Prime location in a rapidly developing area, within 4 minutes of the OKC Stockyards and 5‑7 minutes of Downtown OKC, Bricktown, Midtown, the Arts District, hotels, restaurants, the NBA Thunder arena, Scissortail Park, the OKC Botanical Gardens, and the Omni Hotel & Convention Center.
    • Situated within the OKC Empowerment Zone, offering businesses significant tax incentives, including wage credits, bond financing, and tax deductions.
    Property Profile Location Intelligence

    Current Use by Public Records

    At Mexican Specialities Restaurant Hall Black Top ... Asphalt Contractor

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Dental Office Building Supply Wholesale Shop Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.539451374782
    Latitude
    35.457047259125

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    FAQs

    What type of property is this?
    Land - Prime OKC location, stunning skyline views.
    Where is this land located?
    The property is located at 1501 Exchange Ave Oklahoma City, OK.
    What is the asking price?
    The asking price for this property is $3,740,000.
    What are key features of this property?
    This property features: High-visibility location on Exchange Ave, adjacent to the Oklahoma City River and OU boathouse, with excellent I-40 exposure.; Multiple curb cuts, sidewalks, and bike trail access provide ample ingress/egress from Exchange Ave.; Prime location in a rapidly developing area, within 4 minutes of the OKC Stockyards and 5-7 minutes of Downtown OKC, Bricktown, Midtown, the Arts District, hotels, restaurants, the NBA Thunder arena, Scissortail Park, the OKC Botanical Gardens, and the Omni Hotel & Convention Center.
    Request Owner's contact information
    1501 Exchange Ave Oklahoma City, OK 73108
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    Oklahoma City, OK 73108
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    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
    1501 Exchange Ave Oklahoma City, OK 73108
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    We can help!
    Listing Contact
    Ed Martin
    Ed Martin
    Real Estate License ID: OK 131601
    Learn more
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