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    1034 Garnett Rd Tulsa, OK 74116-2001
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    Property profile & analytics

    1034 Garnett Rd, Tulsa, OK 74116-2001

    View on Map
    • Motels
    • 22,704 SF
    • 1.06 lot acres
    Off-Market
    Last Sale Sep 2, 2022
    $2,800,000
    Property ID
    US69-0463890
    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.
    Value Estimations
    $2,805,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Country Inn & Suites by Radisson, Tulsa, OK / Hotel & Motel
    • Bleu Designs / Marketing & Advertising / Advertising Agency

    Property Details for 1034 Garnett Rd

    Year built
    1996
    Construction
    WOOD FRAME
    Lot size
    1.06 lot acres
    Zone code
    CS
    Property type
    Motels
    APN
    45040-04-31-09700
    APU
    45040043109700

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 2, 2022 $2,800,000 Ayaan Mahadev LLC Jeh Jireh Corporation Special Warranty Deed $2.4M · Bank360
    Jul 26, 2001 — Jeh Jireh Corp Virah Corp Quit Claim Deed · related $1.5M · Oklahoma National Bank
    — — Jeh Jireh Corp — Deed Of Trust · related $50k · Arvest Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,955,000
      ML approach
      $2,835,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,780,000
      Market price range: $1.07M - $2.78M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $2,095,000
      Current use
      MEDICAL BUILDING
      $3,900,000
      Change: +86% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $3,110,000
      Change: +48% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $3,085,000
      Change: +47% Conversion: Difficult
      OFFICE BUILDING
      $2,690,000
      Change: +28% Conversion: Difficult
      RETAIL STORES
      $2,470,000
      Change: +18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Tulsa
    County
    Tulsa
    State
    Oklahoma
    Longitude
    -95.8518
    Latitude
    36.1686
    CBSA code
    46140
    CBSA name
    TULSA, 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
    $40,817
    $20,328
    $283,712
    $304,040
    -
    $184,800
    $2,579,200
    $2,764,000

    Comparable in this City

    • Value Estimation
      $4,610,000
      100,286 SF

      1010 Garnett Rd

      MOTEL
      1010 Garnett Rd, Tulsa, OK 74116-2001
      View Details
    • Value Estimation
      $1,275,000
      32,724 SF

      1016 Garnett Rd

      MOTEL
      1016 Garnett Rd, Tulsa, OK 74116-2041
      View Details
    • Value Estimation
      $1,505,000
      42,414 SF

      16518 Admiral Pl

      MOTEL
      16518 Admiral Pl, Tulsa, OK 74116-3911
      View Details
    • Value Estimation by Request
      10,800 SF

      1247 Garnett Rd

      Distribution properties
      1247 Garnett Rd, Tulsa, OK 74116
      View Details
    • Value Estimation by Request
      0.64 Acres

      Pne N St

      VACANT COMMERCIAL LAND
      Pne N St, Tulsa, OK 74116
      View Details
    • Value Estimation by Request
      21.16 Acres

      Ee 36th St N N St

      VACANT COMMERCIAL LAND
      Ee 36th St N N St, Tulsa, OK 74116
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      8,400 SF

      16901 E Admiral Pl, Tulsa, OK 74116

      Warehouses
      16901 E Admiral Pl, Tulsa, OK 74116
      View Details
    • $345,000

      Commercial Lot on Admiral Place

      0.66 acre commercial lot with development potential.
      12904 East Admiral Pl, Tulsa, OK 74116
      View Details
    • Contact for pricing

      28-Acre Site with Development Potential

      28-acre site suitable for industrial, commercial, or residential development.
      17220 E Admiral Pl, Tulsa, OK 74116
      View Details
    • Contact for pricing

      Corner Parcel in Tulsa, OK

      Corner parcel with frontage on N 129th E Ave and Pine Street.
      1503 N 129 Ave E, Tulsa, OK 74116
      View Details
    • Contact for pricing

      Industrial Land For Sale

      24,760 SF industrial land available in Tulsa, OK.
      1503 N 129 Ave E, Tulsa, OK 74116
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      47,333 SF

      New Flex Space Development

      Under construction flex space near Tulsa International Airport.
      1700-1704 North Memorial Dr, Tulsa, OK 74116
      View Details
    • Contact for pricing
      13,500 SF

      Industrial Warehouse Space Available

      52,048 SF industrial warehouse for lease in Tulsa.
      10541 E Ute St, Tulsa, OK 74116
      View Details
    • Contact for pricing
      56,266 SF

      Industrial Space Near Tulsa Airport

      56,266 SF industrial space near Tulsa International Airport.
      2232 N Mingo Rd, Tulsa, OK 74116
      View Details
    • $7 SF/Yr
      40,306 SF

      Tulsa Warehouse Space Available

      Industrial warehouse space available for lease in Tulsa, Oklahoma.
      10502-10628 East Pine St, Tulsa, OK 74116
      View Details
    • Contact for pricing

      Commercial Space For Lease

      Commercial property available for lease.
      2320 N Mingo Rd, Tulsa, OK 74116
      View Details
    • Contact for pricing

      Tulsa Warehouse with Office Space

      15,000 SF industrial warehouse in Tulsa's Airport Corridor.
      11501 East Pine St, Tulsa, OK 74116
      View Details
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    Tulsa, OK 74116-2001
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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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