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    8020 May Ave Oklahoma City, OK 73120
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    Property profile & analytics

    8020 May Ave, Oklahoma City, OK 73120

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    • Retail properties & Spaces
    • 8,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Beltone Hearing Aid Service / Hearing Assistance Earphone Store / Hearing Aid Store
    • Gammon Hearing Aid Center LLC / Hearing Aid Store
    • Advanced Relief Chiropractic: Poortvliet Robynn, DABCA, DC / Alternative Medicine Practice
    • Cooking Girl / Grocery & Convenience Store / Food Market

    Property Details for 8020 May Ave

    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    Lakehurst Plaza, located at 8020 N May Ave, Oklahoma City, OK 73120, offers prime retail space in Oklahoma County. This multi-tenant property boasts a total of 8,000 square feet, with 3,780 square feet currently vacant and available for lease. Individual spaces range from a minimum of 1,380 square feet to a maximum contiguous space of 2,400 square feet, providing flexibility for various business needs. The property enjoys a high-traffic location on the busy May Avenue corridor, situated between Wilshire and Britton Roads, just west of Nichols Hills. This strategic location benefits from an estimated 25,300 vehicles passing daily (VPD), ensuring significant visibility and potential customer traffic. One available suite, totaling 2,400 square feet, features a thoughtfully designed layout including a waiting room, seven private offices, and a convenient break room. This presents an excellent opportunity for businesses seeking a well-positioned, versatile retail space in a thriving Oklahoma City neighborhood. The property is classified as Street Retail and is ideal for multiple tenants. Inquire today to learn more about leasing opportunities at Lakehurst Plaza.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.5663
    Latitude
    35.553

    Comparable in this City

    • Value Estimation
      $1,615,000
      13,968 SF

      2100 Britton Rd

      RETAIL STORES (PERSONAL SERVICES)
      2100 Britton Rd, Village, OK 73120-1506
      View Details
    • Value Estimation
      $1,130,000
      12,000 SF

      1801 Britton Rd

      RETAIL STORES (PERSONAL SERVICES)
      1801 Britton Rd, Village, OK 73120-1503
      View Details
    • Value Estimation by Request
      5,400 SF

      10840 Pennsylvania Ave

      RETAIL STORES (PERSONAL SERVICES)
      10840 Pennsylvania Ave, Village, OK 73120-4106
      View Details
    • Value Estimation by Request
      2,672 SF

      7941 May Ave

      RETAIL STORES (PERSONAL SERVICES)
      7941 May Ave, Oklahoma City, OK 73120-4540
      View Details
    • Value Estimation by Request
      2,088 SF

      2811 Dorchester Dr

      RETAIL STORES (PERSONAL SERVICES)
      2811 Dorchester Dr, Oklahoma City, OK 73120-4509
      View Details
    • Value Estimation by Request
      3,600 SF

      2912 Hefner Rd

      RETAIL STORES (PERSONAL SERVICES)
      2912 Hefner Rd, Village, OK 73120-6204
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,588 SF

      Oklahoma City Retail Space Available

      3,588 SF retail space in high-traffic Oklahoma City area.
      7926 N May Ave, Oklahoma City, OK 73120
      View Details
    • Contact for pricing
      6,850 SF

      Retail Space in High-Traffic Location

      Retail space available in a high-traffic Oklahoma City location.
      12400 N May Ave, Oklahoma City, OK 73120
      View Details
    • Contact for pricing
      2,645 SF

      Retail Space with Drive-Thru

      Retail space with drive-thru, ample parking, and great visibility.
      9410 N May Ave, Oklahoma City, OK 73120
      View Details
    • Contact for pricing
      7,189 SF

      Retail Space on North May

      Retail space with high visibility and easy highway access.
      12016 N May Ave, Oklahoma City, OK 73120
      View Details
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    Oklahoma City, OK 73120
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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
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