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    89th And Western Oklahoma City, OK 73139
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    Property profile & analytics

    89th And Western Oklahoma City, OK 73139

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    • Lifestyle centers
    • 116,083 SF
    • 17.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 89th And Western

    Year built
    1980
    Lot size
    17.00 lot acres
    Property size
    116,083 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional investment opportunity presents the Brookwood Shopping Center, a 116,083 square foot retail property situated on a 17-acre lot in Oklahoma City, OK. Located at the highly visible SE corner of SW 89th Street and Western Avenue, this single-story center boasts a prime location within a robust retail submarket. Built in 1980 and extensively renovated in 2011, Brookwood Shopping Center remains a community landmark. The property features eight out-parcels, offering additional investment potential through individual sales. The center benefits from excellent access to I-240 and I-35, attracting a strong local, regional, and national customer base. The property includes 796 parking spaces (6.63 spaces per 1,000 square feet), ample ADA parking, and recently resealed and restriped parking lots with LED lighting (2019). Three main pylons (renovated 2019 with LED lighting) and individual out-parcel pylons provide excellent signage opportunities. The in-line space features a modified bitumen roof (2018) with a transferable 15-year warranty, while some out-parcels have TPO roofing. The property has roof-mounted package HVAC units, 200-400 amp service with individually metered electricity, and a Notifier fire system (wet) monitored by Simplex. High traffic counts (27,124 VPD on Western Avenue and 19,246 VPD on SW 89th Street) further enhance the property's value. The property is zoned C-3 Community Commercial District and served by Oklahoma City water and sewer (water on master meter). This well-maintained and strategically positioned shopping center represents a compelling investment opportunity with significant upside potential. Asking price: $17,600,000.

    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
    Cleveland
    State
    Oklahoma
    Longitude
    -97.5302
    Latitude
    35.3769

    Comparable in this City

    • Value Estimation by Request
      27,000 SF

      7800 Western Ave

      Strip malls • 27,000 SF
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    • Value Estimation by Request
      12,375 SF

      804 I-240 Service Rd

      Neighborhood centers • 12,375 SF
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    • Value Estimation
      $2,395,000
      16,080 SF

      7220 Western Ave

      SHOPPING CENTER, STRIP CENTER • 16,080 SF
      7220 Western Ave, Oklahoma City, OK 73139-2012
      View Details
    • Value Estimation
      $955,000
      28,390 SF

      9122 Walker Ave

      SHOPPING CENTER, STRIP CENTER • 28,390 SF
      9122 Walker Ave, Oklahoma City, OK 73139-8508
      View Details
    • Value Estimation
      $1,170,000
      7,200 SF

      7390 Walker Ave

      SHOPPING CENTER, STRIP CENTER • 7,200 SF
      7390 Walker Ave, Oklahoma City, OK 73139-7604
      View Details
    • Value Estimation
      $1,125,000
      29,220 SF

      8401 Western Ave

      SHOPPING CENTER, STRIP CENTER • 29,220 SF
      8401 Western Ave, Oklahoma City, OK 73139-9211
      View Details

    Similar Nearby for Sale

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      Retail Property at High-Traffic Corner

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    Similar Nearby for Lease

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      Conveniently Located Shopping Center Space

      Located near I-240 and S. Western with high traffic.
      7800 S Western Ave, Oklahoma City, OK 73139
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      Summit Pointe Plaza Retail Space

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      Retail Space Available For Lease

      Retail space available for lease in Oklahoma City, OK.
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      New Retail Space Available

      Retail space for lease in South Oklahoma City.
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      2,840 SF

      Retail Space on S Western

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      7317-7435 S Western Ave, Oklahoma City, OK 73139
      View Details
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    Oklahoma City, OK 73139
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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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    89th And Western, Oklahoma City, OK, 73139
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