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    Property profile & analytics

    1800 Air Depot Blvd Midwest City, OK 73110

    • Strip malls
    • 4,988 SF
    • 0.55 lot acres
    For Lease
    View listing
    $15 SF/Yr
    Last Sale
    Jan 03, 2023
    $765,000
    Value Estimations
    $850,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-2425898
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Strip malls

    Property Details for 1800 Air Depot Blvd

    Year built
    2004
    Construction
    FRAME
    Lot size
    0.55 lot acres
    Property size
    4,988 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    15-010-4200
    APU
    150104200

    Description

    This exceptional 4,988 square foot retail property, located at 1800 S. Air Depot Boulevard in Midwest City, Oklahoma, presents a fantastic investment opportunity. Built in 2004, this single-story Class B building sits on a 0.55-acre lot and is zoned C-3, offering considerable flexibility for a variety of retail uses. The property boasts a prime location with excellent frontage along Air Depot Boulevard, ensuring high visibility and accessibility for customers. Ample parking is available, including additional spaces at the rear of the building. Individual unit metering provides efficient utility management. The property's proximity to Rose State College guarantees a consistent flow of potential customers. A significant advantage is the possibility of incorporating a drive-thru feature at the north end cap, further enhancing the property's appeal and functionality. This multi-tenant building offers a unique chance to establish or expand a retail presence in a thriving Oklahoma City suburb. The property's features, combined with its strategic location, make it an ideal choice for discerning investors seeking a strong return on investment. The property is located in Oklahoma County, Oklahoma, with a zip code of 73110.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $835,000
      ML approach
      $835,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $896,000
      Market price range: $265k - $896k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $565,000
      Current use
      MEDICAL BUILDING
      $780,000
      Change: +38% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $740,000
      Change: +31% Conversion: Difficult
      OFFICE BUILDING
      $640,000
      Change: +13% Conversion: Moderate
      RETAIL STORES
      $615,000
      Change: +9% Conversion: Easy
      COMMERCIAL (GENERAL)
      $580,000
      Change: +3% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Midwest City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.4056
    Latitude
    35.4472
    CBSA code
    36420
    CBSA name
    OKLAHOMA CITY, OK METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $7,736
    $19,700
    $46,022
    $65,722
    -
    $190,400
    $444,811
    $635,211

    Comparable in this City

    • Value Estimation
      $415,000
      17,649 SF

      1200 Air Depot Blvd

      SHOPPING CENTER, STRIP CENTER • 17,649 SF
      1200 Air Depot Blvd, Midwest City, OK 73110-4866
      View Details
    • Value Estimation
      $2,420,000
      8,706 SF

      1640 Sooner Rd

      SHOPPING CENTER, STRIP CENTER • 8,706 SF
      1640 Sooner Rd, Midwest City, OK 73110-2608
      View Details
    • Value Estimation
      $320,000
      12,122 SF

      224 Sooner Rd

      SHOPPING CENTER, STRIP CENTER • 12,122 SF
      224 Sooner Rd, Midwest City, OK 73110-2043
      View Details
    • Value Estimation
      $290,000
      3,780 SF

      8421 10th St

      SHOPPING CENTER, STRIP CENTER • 3,780 SF
      8421 10th St, Midwest City, OK 73110-7100
      View Details
    • Value Estimation
      $175,000
      9,732 SF

      1401 Midwest Blvd

      SHOPPING CENTER, STRIP CENTER • 9,732 SF
      1401 Midwest Blvd, Midwest City, OK 73110-4915
      View Details
    • Value Estimation
      $760,000
      248,721 SF

      6707 Reno Ave

      SHOPPING CENTER, STRIP CENTER • 248,721 SF
      6707 Reno Ave, Midwest City, OK 73110-2147
      View Details

    Similar Nearby for Sale

    • $2,042,245
      10,100 SF

      Fully Occupied Retail Investment Property

      Retail property with notable tenants, near Tinker Air Force Base.
      2320 South Air Depot Blvd, Midwest City, OK 73110
      View Details
    • $2,042,245
      10,100 SF

      Occupied Retail Center Near Air Force Base

      Fully occupied retail center located near Tinker Air Force Base.
      2320-2340 S Air Depot Blvd, Midwest City, OK 73110
      View Details
    • $4,330,000
      13,750 SF

      Sooner Rose III Shopping Center

      Midwest City Retail Investment Opportunity
      6003 15Th St, Midwest City, OK 73110
      View Details
    • $8,495,000
      98,949 SF

      Gateway Plaza Retail Opportunity

      Well-maintained shopping center with national and local tenants.
      1347 Gateway Plz, Oklahoma City, OK 73110
      View Details
    • Contact for pricing
      2,730 SF

      Newly-Renovated Restaurant For Sale

      Restaurant property for sale with zero landlord responsibilities.
      6825 SE 29Th St, Oklahoma City, OK 73110
      View Details
    • $850,000
      7,825 SF

      Turnkey Car Wash For Sale

      Operating car wash with equipment included, located in Midwest City.
      208 S Air Depot Blvd, Oklahoma City, OK 73110
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      2,700 SF

      Retail Space in Midwest City

      Retail space available in a highly visible shopping center.
      1200 S Air Depot Blvd, Oklahoma City, OK 73110
      View Details
    • Contact for pricing
      15,265 SF

      637 SF-15,265 SF Uptown Plaza For Lease - 7505-7537 S.E. 15th Street

      637 SF-15,265 SF Uptown Plaza For Lease - 7505-7537 S.E. 15th Street
      7505-7537 S.E. 15th Street, Midwest City, OK 73110
      View Details
    • Contact for pricing
      650 SF

      Retail Center Near Tinker AFB

      Retail spaces available near Midwest City High School.
      1100 S Air Depot Blvd, Midwest City, OK 73110
      View Details
    • $12 SF/Yr
      75,071 SF

      Heritage Plaza Office Suites

      Midwest City, OK Office Space Available
      351 Air Depot Blvd, Midwest City, OK 73110
      View Details
    • $540,000
      2,536 SF

      Freestanding Building with Drive Thru

      Freestanding building with drive-thru available for sale or lease.
      904 S Air Depot Blvd, Oklahoma City, OK 73110
      View Details
    • $25 SF/Yr
      5,208 SF

      Midwest City Retail Space - 5208 SF

      Prime Retail Location, High Traffic Area
      6205 15Th St, Midwest City, OK 73110
      View Details
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    Midwest City, OK 73110
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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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