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

    10321 Reno Ave Oklahoma City, OK 73127-7136

    • Office buildings
    • 126,840 SF
    • 64.45 lot acres
    OFF-MARKET
    Value Estimations
    $13,830,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-1044531
    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

    • Office buildings

    Property Details for 10321 Reno Ave

    Year built
    1975
    Lot size
    64.45 lot acres
    Property size
    126,840 SF
    Property type
    Office buildings
    APN
    90022780
    APU
    90022780

    Description

    This expansive 280,000-square-foot industrial property, situated on 85.18 acres in Oklahoma City's western submarket, presents a unique investment opportunity. Built in 1967 and renovated in 2019, the property boasts a versatile layout suitable for various industrial, office, and manufacturing needs. The building features a 30-foot ceiling height, 11 loading docks, 2 drive-ins, and ample parking for 1100 vehicles, secured by a guard station. Power is robust, with two 12.5kVA, 480V, 3-phase feeds, supplemented by 1650kW backup generators. The property includes a commercial kitchen, cafe, large break room, and workout facility, reflecting its previous use as a high-capacity office and manufacturing space. Its location offers easy access to I-40 and I-344, enhancing logistical efficiency. The I-2 zoning allows for a wide range of potential uses. The property's park-like setting, complete with a central courtyard, creates a welcoming and functional environment. With open-minded ownership, the space is adaptable to meet specific tenant requirements. This exceptional property offers a rare combination of size, location, and amenities, making it an attractive prospect for businesses seeking a substantial and well-equipped space. The property is entirely vacant, providing a blank canvas for a new tenant's vision.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $15,634,000
      Market price range: $10.3M - $22.6M
      AI Estimate
      $9,247,000
      Market price range: $4.94M - $14.5M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $16,275,000
      Current use
      MEDICAL BUILDING
      $19,800,000
      Change: +22% Conversion: Easy
      AUTO REPAIR, GARAGE
      $18,860,000
      Change: +16% Conversion: Difficult
      RETAIL STORES
      $15,655,000
      Change: -4% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $14,375,000
      Change: -12% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Canadian
    State
    Oklahoma
    Longitude
    -97.6961
    Latitude
    35.4678
    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
    $157,289
    $229,892
    $1,159,215
    $1,389,107
    -
    $1,915,769
    $9,660,123
    $11,575,892

    Comparable in this City

    • Value Estimation
      $1,380,000
      11,810 SF

      48 Cooley Dr

      OFFICE BUILDING • 11,810 SF
      48 Cooley Dr, Oklahoma City, OK 73127-1026
      View Details
    • Value Estimation
      $1,405,000
      8,000 SF

      910 Morgan Rd

      OFFICE BUILDING • 8,000 SF
      910 Morgan Rd, Oklahoma City, OK 73127-7143
      View Details
    • Value Estimation
      $530,000
      3,192 SF

      621 Morgan Rd

      OFFICE BUILDING • 3,192 SF
      621 Morgan Rd, Oklahoma City, OK 73127-7158
      View Details
    • Value Estimation
      $1,300,000
      9,000 SF

      9224 Reno Ave

      OFFICE BUILDING • 9,000 SF
      9224 Reno Ave, Oklahoma City, OK 73127-2970
      View Details
    • Value Estimation
      $1,445,000
      30,100 SF

      9600 4th St

      OFFICE BUILDING • 30,100 SF
      9600 4th St, Oklahoma City, OK 73127-2923
      View Details
    • Value Estimation by Request
      4,000 SF

      709 Morgan Rd

      OFFICE BUILDING • 4,000 SF
      709 Morgan Rd, Oklahoma City, OK 73127-7142
      View Details

    Similar Nearby for Sale

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      31,234 SF

      Updated Commercial Building with Income

      Two-story commercial building with 31,000+ sq. ft. and strong income.
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    • $650,000
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      Two Warehouses on Large Lot

      Two warehouses on 1.04 acres with fenced yard.
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      New 7-Eleven NNN Lease

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      Land for sale surrounded by single and multi-family residences.
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    • $1,250,000
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      Oklahoma City Development Opportunity

      4. 3+/- acre property with high-traffic exposure on MacArthur Blvd.
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    • $5,490,000
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      Oklahoma City Warehouse - $5.49M

      84,190 SF Warehouse, Excellent Location
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    Similar Nearby for Lease

    • Contact for pricing
      31,017 SF

      Oklahoma City Flex Space Opportunity

      Modern Flex Space, Oklahoma City
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    • $22 SF/Yr
      22,607 SF

      Customizable Office Space Available

      Office space for rent with customized design options.
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      View Details
    • Contact for pricing
      31,017 SF

      Oklahoma City Flex Space - Suite 700

      Modern Flex Space, West OKC
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    • $13 SF/Yr
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    • Contact for pricing
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      Oklahoma City Flex Space - 31,017 SF

      Prime West OKC flex space, single tenant, ideal for R&D.
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    • Contact for pricing
      31,017 SF

      Oklahoma City Flex Space - Suite 1000

      Prime Flex/R&D Space in Oklahoma City
      235 Macarthur Blvd, Oklahoma City, OK 73127
      View Details
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    Oklahoma City, OK 73127-7136
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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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