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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1001 15Th Ave Ardmore, OK 73401

    • Medical offices
    • 6,472 SF
    • 0.55 lot acres
    For Sale
    View listing
    $1,200,000
    Last Sale
    Sep 28, 2022
    $750,000
    Value Estimations
    Cap Rate Potential
    7.7%
    Medical offices
    Location Intelligence
    Property ID
    US69-2140551
    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

    • Dr. Benjamin B. Fore, DO / Physician
    • Family Care Center / Physician
    • Wellness Center / Physician
    • Dr. Darius R. Noble, DO / Physician
    • Tabor Behavioral Health / Physician

    Property Details for 1001 15Th Ave

    Year built
    1956
    Lot size
    0.55 lot acres
    Property size
    6,472 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    0450-00-002-001-0-001-00
    APU
    45000002001000100

    Description

    This exceptional 6,016 square foot commercial property, situated on a 0.33-acre lot in the heart of Ardmore's medical and commercial district, presents a unique investment opportunity. Currently operating as the Tabor Behavioral Wellness Center, the building has undergone a complete renovation, featuring brand new flooring, paint, and lighting throughout. The property's strategic location offers unparalleled access to a thriving patient base and ample commercial activity. A significant advantage is the presence of two distinct addresses and separate entrances, providing flexibility for various uses and potential for expansion or division. The building's recent modernization ensures immediate occupancy with minimal capital expenditure required. The asking price of $1,200,000 reflects the property's prime location, substantial size, recent renovations, and the inherent potential for diverse commercial applications within the bustling Ardmore market. This is an exceptional opportunity to acquire a turnkey medical facility or adapt the space to suit a variety of commercial needs. The dual address and entrance configuration offers significant operational advantages, making this property a truly unique and attractive investment. The property's location within the established medical and commercial corridor guarantees high visibility and accessibility.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $965,000
      ML approach
      $805,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,235,000
      6.5%
      $1,140,000
      7%
      $1,055,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $856,000
      Market price range: $537k - $966k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $775,000
      Current use
      OFFICE BUILDING
      $1,090,000
      Change: +41% Conversion: Easy
      RESTAURANT
      $725,000
      Change: -6% Conversion: Difficult
      RETAIL STORES
      $670,000
      Change: -13% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Ardmore
    County
    Carter
    State
    Oklahoma
    Longitude
    -97.1401
    Latitude
    34.1904
    CBSA code
    11620
    CBSA name
    ARDMORE, OK MICROPOLITAN 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
    $8,893
    $34,596
    $55,404
    $90,000
    -
    $288,298
    $461,702
    $750,000

    Comparable in this City

    • Value Estimation
      $1,865,000
      15,617 SF

      2401 Commerce St

      MEDICAL BUILDING • 15,617 SF
      2401 Commerce St, Ardmore, OK 73401-1280
      View Details
    • Value Estimation
      $1,780,000
      14,893 SF

      1220 Hall Pl

      MEDICAL BUILDING • 14,893 SF
      1220 Hall Pl, Ardmore, OK 73401-1815
      View Details
    • Value Estimation
      $840,000
      7,036 SF

      221 2nd NW Ave

      MEDICAL BUILDING • 7,036 SF
      221 2nd NW Ave, Ardmore, OK 73401-6202
      View Details
    • Value Estimation
      $3,110,000
      26,000 SF

      405 Washington St

      MEDICAL BUILDING • 26,000 SF
      405 Washington St, Ardmore, OK 73401-7044
      View Details
    • Value Estimation
      $870,000
      7,935 SF

      1402 Brookview Dr

      MEDICAL BUILDING • 7,935 SF
      1402 Brookview Dr, Ardmore, OK 73401-1219
      View Details
    • Value Estimation by Request
      3,500 SF

      1306 12th NW Ave

      MEDICAL CLINIC • 3,500 SF
      1306 12th NW Ave, Ardmore, OK 73401-1285
      View Details

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    Ardmore, OK 73401
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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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