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

    1024 47th St Oklahoma City, OK 73118-6400

    • Medical Office Space
    • 8,276 SF
    • 0.64 lot acres
    OFF-MARKET
    Last Sale
    Apr 14, 2022
    $1,272,500
    Value Estimations
    $1,265,000
    Show details
    Cap Rate Potential
    9.4%
    Medical Office Space
    Location Intelligence
    Property ID
    US69-0481237
    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

    • Advanced Relief Chiropractic / Alternative Medicine Practice
    • Barbara Prater / Physician
    • Robert A. Eskew, PT / Physician
    • Skin and Care / Alternative Medicine Practice / Spa & Massage Center
    • Physical Rehabilitation Associates / Physician

    Property Details for 1024 47th St

    Year built
    1982
    Construction
    BRICK
    Lot size
    0.64 lot acres
    Property size
    8,276 SF
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    04-964-3320
    APU
    49643320

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,245,000
      ML approach
      $1,265,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,453,000
      Market price range: $694k - $2.09M
      AI Estimate
      $764,000
      Market price range: $367k - $1.08M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,290,000
      Current use
      AUTO REPAIR, GARAGE
      $1,230,000
      Change: -5% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,110,000
      Change: -14% Conversion: Easy
      OFFICE BUILDING
      $1,060,000
      Change: -18% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.5291
    Latitude
    35.5191
    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
    $17,226
    $16,940
    $123,310
    $140,250
    -
    $154,000
    $1,121,000
    $1,275,000

    Comparable in this City

    • Value Estimation by Request
      3,936 SF

      4601 Classen Blvd

      MEDICAL BUILDING • 3,936 SF
      4601 Classen Blvd, Oklahoma City, OK 73118-4815
      View Details
    • Value Estimation
      $3,415,000
      37,774 SF

      6205 Santa Fe Ave

      MEDICAL BUILDING • 37,774 SF
      6205 Santa Fe Ave, Oklahoma City, OK 73118-7537
      View Details
    • Value Estimation by Request
      2,900 SF

      5536 Western Ave

      MEDICAL BUILDING • 2,900 SF
      5536 Western Ave, Oklahoma City, OK 73118-4006
      View Details
    • Value Estimation
      $1,005,000
      6,888 SF

      4214 Classen Blvd

      MEDICAL BUILDING • 6,888 SF
      4214 Classen Blvd, Oklahoma City, OK 73118-2416
      View Details
    • Value Estimation
      $1,635,000
      16,603 SF

      236 62nd St

      MEDICAL BUILDING • 16,603 SF
      236 62nd St, Oklahoma City, OK 73118-7422
      View Details
    • Value Estimation
      $560,000
      3,356 SF

      5653 Classen Blvd

      MEDICAL BUILDING • 3,356 SF
      5653 Classen Blvd, Oklahoma City, OK 73118-4015
      View Details

    Similar Nearby for Sale

    • $1,195,000

      Medical Office Space Available

      Medical office space with exam rooms and ample parking.
      4215 N Classen Blvd, Oklahoma City, OK 73118
      View Details
    • Contact for pricing
      7,409 SF

      Remodeled Office Building with Services

      Remodeled office building with fully serviced offices for sale.
      924 NW 58Th St, Oklahoma City, OK 73118
      View Details
    • Contact for pricing
      3,292 SF

      Versatile Commercial Space For Sale

      Adaptable commercial space suitable for office, medical, or retail use.
      1040 NE 36Th St, Oklahoma City, OK 73118
      View Details
    • $2,400,000

      Office Building with Private Offices

      Office building featuring 23 private offices and covered parking.
      5619 N Classen Blvd, Oklahoma City, OK 73118
      View Details
    • $3,250,000
      27,847 SF

      Richmond Square Office Building

      Executive Office Building, Oklahoma City
      4900 Richmond Sq, Oklahoma City, OK 73118
      View Details
    • Contact for pricing
      1,299,670 SF

      103 AC Expand Energy Campus

      103 AC Expand Energy Campus
      Expand Energy Campus, Oklahoma City, OK 73118
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      6,700 SF

      4323 Classen Blvd

      Medical Office Space • 6,700 SF
      4323 Classen Blvd, Oklahoma City, OK 73118
      View Details
    • $14 SF/Yr
      9,280 SF

      Medical Office Space Available

      Medical office space featuring exam rooms and reception area.
      4215 N Classen Blvd, Oklahoma City, OK 73118
      View Details
    • $14 SF/Yr

      Medical Office Space Available

      Medical office space with exam rooms and reception area.
      4215 N Classen Blvd, Oklahoma City, OK 73118
      View Details
    • $16 SF/Yr
      30,949 SF

      Richmond Square Office Space

      Oklahoma City office building, 8 suites available
      4900 Richmond Sq, Oklahoma City, OK 73118
      View Details
    • Contact for pricing
      3,828 SF

      Class A Office Space Available

      Premium office space with modern design and convenient access.
      5801 Broadway Ext, Oklahoma City, OK 73118
      View Details
    • $17 SF/Yr

      Office and Retail Space Available

      Office and retail spaces in a well-located Oklahoma City building.
      5104 N Francis Ave, Oklahoma City, OK 73118
      View Details
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    Oklahoma City, OK 73118-6400
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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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