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

    1111 N Lee Ave Oklahoma City, OK 73103

    • Medical offices
    • 87,573 SF
    • 6.86 lot acres
    For Lease
    View listing
    $16 SF/Yr
    Last Sale
    Mar 07, 2022
    $5,750,000
    Value Estimations
    $6,055,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0359696
    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

    • Diagnostic Laboratory of Oklahoma Pasteur Building / Medical Clinic / Std Testing Service
    • DLO Midtown Patient Service Center / Blood Testing Service / Diagnostic Center
    • SynaptaCode / Corporate Office
    • Psychiatric Care Solutions / Doctor
    • Long Wave Inc / Engineering Consultant / Software Company

    Property Details for 1111 N Lee Ave

    Year built
    1950
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    6.86 lot acres
    Property size
    87,573 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    04-580-8300
    APU
    45808300

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,625,000
      ML approach
      $5,575,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,344,000
      Market price range: $7.34M - $22.2M
      AI Estimate
      $3,882,000
      Market price range: $3.88M - $11.4M

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

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.5248
    Latitude
    35.4793
    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
    $25,893
    $127,138
    $83,681
    $210,819
    -
    $1,181,640
    $777,744
    $1,959,384

    Comparable in this City

    • Value Estimation by Request
      7,464 SF

      601 11th St

      MEDICAL BUILDING • 7,464 SF
      601 11th St, Oklahoma City, OK 73103-2415
      View Details
    • Value Estimation by Request
      17,010 SF

      1111 Dewey Ave

      MEDICAL BUILDING • 17,010 SF
      1111 Dewey Ave, Oklahoma City, OK 73103-2609
      View Details
    • Value Estimation
      $655,000
      95,700 SF

      1211 Shartel Ave

      MEDICAL BUILDING • 95,700 SF
      1211 Shartel Ave, Oklahoma City, OK 73103-2400
      View Details
    • Value Estimation by Request
      6,000 SF

      222 12th St

      MEDICAL BUILDING • 6,000 SF
      222 12th St, Oklahoma City, OK 73103-4800
      View Details
    • Value Estimation
      $3,120,000
      12,840 SF

      1226 Shartel Ave

      MEDICAL BUILDING • 12,840 SF
      1226 Shartel Ave, Oklahoma City, OK 73103-2421
      View Details
    • Value Estimation by Request
      40,914 SF

      600 11th St

      MEDICAL BUILDING • 40,914 SF
      600 11th St, Oklahoma City, OK 73103-2423
      View Details

    Similar Nearby for Sale

    • $3,995,000
      12,840 SF

      Medical Office Space Available

      Fully built-out medical space with ample parking.
      1226 N Shartel Ave, Oklahoma City, OK 73103
      View Details
    • $3,250,000
      19,631 SF

      Oklahoma City Multi-Use Building

      19,631 SF Multi-Use Building, 1.28 Acres
      32 N. Broadway Circle, Oklahoma City, OK 73103
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    • $1,750,000
      9,020 SF

      Broadway Ave Office Building

      Prime OKC Office, 9,020 SF, $1.75M
      1701 Broadway Ave, Oklahoma City, OK 73103
      View Details
    • $2,400,000
      27,567 SF

      Downtown OKC Office Building

      Vacant, 27,567 SF, $2.4M
      1324 Broadway Dr, Oklahoma City, OK 73103
      View Details
    • $3,250,000
      19,631 SF

      Automobile Alley Multi-Tenant Opportunity

      Multi-tenant property in Automobile Alley near downtown Oklahoma City.
      32 N Broadway Cir, Oklahoma City, OK 73103
      View Details
    • $3,151,280

      Classic Mid-Century Office Building

      Office building with private offices, parking, and convenient location.
      528 NW 12Th St, Oklahoma City, OK 73103
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      9,020 SF

      Broadway Ave Office Building

      Prime Office Space - Lease or Buy
      1701 Broadway Ave, Oklahoma City, OK 73103
      View Details
    • $24 SF/Yr
      59,500 SF

      Buick Building Office Space For Lease

      Downtown OKC Office Building, 18,498 SF Available
      1101 Broadway Ave, Oklahoma City, OK 73103
      View Details
    • $1,704 /Mo
      639 SF

      Move-in Ready Office Space

      Conveniently located office space near highway and Downtown OKC.
      220 NW 13Th St, Oklahoma City, OK 73103
      View Details
    • $1,000 /Mo
      1,000 SF

      Mesta Park Office Suites

      Office suites available for rent in Mesta Park.
      1800-1806 N Shartel Ave, Oklahoma City, OK 73103
      View Details
    • $2,375 /Mo
      1,127 SF

      Office Space in Automobile Alley

      Ground floor office space near restaurants, shops, and streetcar.
      20 NW 13Th St, Oklahoma City, OK 73103
      View Details
    • $28 SF/Yr
      79,658 SF

      Oklahoma City Executive Suites

      Class A Office Space, Multiple Tenancies Available
      424 10Th St, Oklahoma City, OK 73103
      View Details
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    1111 N Lee Ave
    Oklahoma City, OK 73103
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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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