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    1400 3Rd St Edmond, OK 73003

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    1400 3Rd St Edmond, OK 73003

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    • Land
    • 2.89 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • John Doe’s Place / DJ & Entertainment / Nightclub

    Property Details for 1400 3Rd St

    Lot size
    2.89 lot acres
    Property type
    Land

    Description

    This exceptional 2.89-acre commercial land parcel presents a prime redevelopment opportunity in the heart of Edmond, Oklahoma. Located at 1400 W 3rd St, Edmond, OK 73003, this property boasts a highly desirable location just west of Kelly on Edmond Road, directly across from Edmond Road Baptist Church. The lot dimensions measure approximately 350 feet by 360 feet, providing ample space for a variety of development projects. The property is zoned A - Single Family, offering flexibility for potential development plans. This area experiences heavy traffic volume, benefiting from its central location and strong population growth. The site's strategic position is further enhanced by the construction of a new multifamily development directly across Edmond Road, indicating a vibrant and expanding neighborhood. The asking price for this exceptional investment opportunity is $750,000. This property is ideal for developers seeking a high-visibility location with significant growth potential in a thriving Oklahoma City suburb. Don't miss this chance to acquire a significant land holding in a rapidly developing area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Edmond
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.5006
    Latitude
    35.6529

    Comparable in this City

    • Value Estimation by Request

      Fretz Ave

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      0 Fretz Ave, Edmond, OK 73003
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      1.00 Acre

      1 Kelly Ave

      Land • 1.00 Acre
      1 Kelly Ave, Edmond, OK 73003
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    • Value Estimation by Request

      Fretz Ave

      Land
      0 Fretz Ave, Edmond, OK 73003
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      20.00 Acres

      2nd St

      Land • 20.00 Acres
      2nd St, Edmond, OK 73003
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    • Value Estimation by Request
      2.04 Acres

      Covell Village Dr

      Commercial real estate • 2.04 Acres
      Covell Village Dr, Edmond, OK 73003
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    • Value Estimation by Request
      960 SF

      601 Kelly Ave

      COMMERCIAL (GENERAL) • 960 SF
      601 Kelly Ave, Edmond, OK 73003-4800
      View Details

    Similar Nearby for Sale

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      Land Available in Edmond, OK

      Land for sale at 1500 N Santa Fe Ave, Edmond, OK.
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      Commercial Land Near Covell Village

      2.04 acres of commercial land, build ready with utilities.
      Covell Village Dr, Edmond, OK 73003
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    • $2,000,000
      4 SF

      Land Ready for Development

      4 acre commercial land parcel with utilities in Edmond, OK.
      444 West Edmond Rd, Edmond, OK 73003
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      40 Acres Development Land

      40 acres of development land in Edmond, Oklahoma.
      Development Land 2Nd St, Edmond, OK 73003
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      Commercial Land Redevelopment Opportunity

      Commercial land available for redevelopment in Edmond, Oklahoma.
      800 S Santa Fe Ave, Edmond, OK 73003
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    • $200,000
      0.58 Acres

      Residential Land in Saratoga Farms

      Spacious lot in desirable Edmond community, build your dream home.
      1669 Saratoga Way, Edmond, OK 73003
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    Similar Nearby for Lease

    • $10 SF/Yr
      2,736 SF

      2,736 SF Industrial Space For Lease - 1101 S. Fretz Avenue

      2,736 SF Industrial Space For Lease - 1101 S. Fretz Avenue
      1101 S. Fretz Avenue, Edmond, OK 73003
      View Details
    • Contact for pricing
      1,400 SF

      Retail Space in Busy Corridor

      Retail space in a busy corridor with strong demographics.
      822 W Edmond Rd, Edmond, OK 73003
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    • Contact for pricing
      1,721 SF

      Edmond Office Space For Rent

      1,721 SF office space available now in Edmond, OK.
      2411 S Kelly Ave, Edmond, OK 73003
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    • Contact for pricing

      Industrial Flex Space For Rent

      Industrial flex space available in Fretz Industrial Complex.
      1408 S Fretz Ave, Edmond, OK 73003
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    • Contact for pricing
      250 SF

      Office Space Available For Rent

      Office space available for rent in Edmond, Oklahoma.
      136 E 5Th St, Edmond, OK 73003
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    • Contact for pricing
      2,760 SF

      Former Restaurant Space Available

      Former fast food restaurant for sublease in front of Walmart.
      2108 W Danforth Rd, Edmond, OK 73003
      View Details
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    Edmond, OK 73003
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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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    1400 3Rd St, Edmond, OK, 73003

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