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    521 Wilshire Blvd Nichols Hills, OK 73116

    • Commercial real estate
    • 26,104 SF
    • 1.65 lot acres
    For Sale
    View listing
    $3,950,000
    Last Sale
    Mar 22, 2024
    $3,091,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-1666643
    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

    • Forrest Drilling / Well Drilling Contractor
    • Eagle Drilling Fluids LLC / General Contractor / Oil And Gas Exploration Service
    • Asset Servicing Group, LLC / Property Management Company
    • Life Time Capital Receiver / Investment Service
    • ϹityLine Ϲhimney Oklahoma City OK / Blast Cleaning Service / Chimney Sweep

    Property Details for 521 Wilshire Blvd

    Year built
    1957
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.65 lot acres
    Property size
    26,104 SF
    Property type
    Commercial real estate
    APN
    13-458-1013
    APU
    134581013

    Description

    This exceptional two-story, 26,104 square foot Class B office building, constructed in 1957 and renovated in 2006, is ideally situated on 1.65 acres along Wilshire Boulevard, west of Broadway Extension, offering easy access to the entire Oklahoma City metro area, particularly Nichols Hills and Edmond. Suite 200, encompassing the entire second floor, provides 6,697 square feet of versatile space, easily subdivided to meet specific tenant requirements. A private elevator and stunning downtown OKC views are exclusive benefits for single-tenant occupancy of this floor. The partially furnished suite includes desks, a large granite conference table, an open bullpen area, eight private offices with windows, private restrooms, and a substantial storage room with efficient roller-system shelving. A shared first-floor conference room adds further convenience. The building features multiple tenancies, yes elevators, and is zoned for office use. The property's APN is 134581013, located in Oklahoma County. Local ownership ensures responsive management and efficient processing of showings, lease agreements, and any necessary modifications to accommodate evolving business needs.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,090,000
      ML approach
      $3,090,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,328,000
      Market price range: $2.80M - $5.82M
      AI Estimate
      $4,017,000
      Market price range: $1.45M - $6.06M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $3,890,000
      Current use
      MEDICAL BUILDING
      $4,075,000
      Change: +5% Conversion: Easy
      AUTO REPAIR, GARAGE
      $3,880,000
      Change: -0% Conversion: Difficult
      OFFICE BUILDING
      $3,350,000
      Change: -14% Conversion: Easy
      RETAIL STORES
      $3,220,000
      Change: -17% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.5234
    Latitude
    35.5518
    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
    $41,968
    $35,622
    $306,079
    $341,701
    -
    $323,843
    $2,782,533
    $3,106,376

    Comparable in this City

    • Value Estimation
      $240,000
      1,090 SF

      6900 Shartel Ave

      COMMERCIAL (GENERAL) • 1,090 SF
      6900 Shartel Ave, Oklahoma City, OK 73116-7516
      View Details
    • Value Estimation
      $640,000
      26,498 SF

      6410 Avondale Dr

      COMMERCIAL (GENERAL) • 26,498 SF
      6410 Avondale Dr, Nichols Hills, OK 73116-6404
      View Details
    • Value Estimation
      $285,000
      630 SF

      7100 Classen Blvd

      COMMERCIAL (GENERAL) • 630 SF
      7100 Classen Blvd, Oklahoma City, OK 73116-7151
      View Details
    • Value Estimation
      $285,000
      557 SF

      7100 Classen Blvd

      COMMERCIAL (GENERAL) • 557 SF
      7100 Classen Blvd, Oklahoma City, OK 73116-7151
      View Details
    • Value Estimation
      $275,000
      330 SF

      7100 Classen Blvd

      COMMERCIAL (GENERAL) • 330 SF
      7100 Classen Blvd, Oklahoma City, OK 73116-7151
      View Details
    • Value Estimation
      $225,000
      801 SF

      3011 63rd St

      COMMERCIAL (GENERAL) • 801 SF
      3011 63rd St, Oklahoma City, OK 73116-3629
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      5,000 SF

      Oklahoma City Build-to-Suit Office

      5,000 SF Class A Office, Owner-User
      829 72Nd St, Oklahoma City, OK 73116
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    • $495,000
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      807 72Nd St

      Automotive properties • 1,820 SF
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    • $3,950,000
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      Executive Office Building, Nichols Hills

      Prime Nichols Hills Office, 28,184 SF
      521 Wilshire Blvd, Nichols Hills, OK 73116
      View Details
    • Contact for pricing
      3,000 SF

      Oklahoma City Build-to-Suit Office

      Custom-designed office space, prime location.
      7300 Classen Blvd, Oklahoma City, OK 73116
      View Details
    • $3,900,000
      33,597 SF

      NW Expressway Retail Center

      Prime Oklahoma City retail building, 33,597 SF on 2.11 acres.
      6627 N.W. Expressway, Oklahoma City, OK 73116
      View Details
    • $1,975,000

      Development Ready Site For Sale

      9.5 acre development site with I-240 visibility.
      5800 SE 74Th St, Oklahoma City, OK 73116
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      3,715 SF

      Grand Blvd Executive Office Space

      Oklahoma City Office/Retail, 3715 SF
      2800 Grand Blvd, Oklahoma City, OK 73116
      View Details
    • $15 SF/Yr
      38,200 SF

      Lakewood Shopping Center: OKC Retail

      Prime OKC Retail Center - High Visibility
      6807 May Ave, Oklahoma City, OK 73116
      View Details
    • Contact for pricing
      55,000 SF

      Wilshire Blvd Office Suites

      Nichols Hills office space, 5 suites available.
      1000 Wilshire Blvd, Nichols Hills, OK 73116
      View Details
    • $16 SF/Yr
      19,443 SF

      Wilshire Gardens Office Suites

      Oklahoma City Executive Offices, 5 Suites Available
      425 Wilshire Blvd, Oklahoma City, OK 73116
      View Details
    • $10 SF/Yr
      14,976 SF

      Office Space Available For Rent

      Office space with 24/7 access and ample parking.
      3801 NW 63Rd St, Oklahoma City, OK 73116
      View Details
    • $27 SF/Yr
      547 SF

      Office Space For Rent

      Office spaces available, conveniently located near major highways.
      6421 Avondale Dr, Oklahoma City, OK 73116
      View Details
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    521 Wilshire Blvd
    Nichols Hills, OK 73116
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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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