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    Property profile & analytics

    1121 Memorial Rd Oklahoma City, OK 73131-1235

    • Auto shops
    • 40,664 SF
    • 11.23 lot acres
    OFF-MARKET
    Value Estimations
    $5,470,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0059932
    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

    • CarMax Auctions / Car Dealership
    • CarMax / Car Dealership

    Property Details for 1121 Memorial Rd

    Year built
    2005
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    11.23 lot acres
    Property size
    40,664 SF
    Property type
    Auto shops
    APN
    14-034-7120
    APU
    140347120

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $5,004,000
      Market price range: $1.60M - $5.00M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $6,045,000
      Current use
      MEDICAL BUILDING
      $6,350,000
      Change: +5% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $5,750,000
      Change: -5% Conversion: Moderate
      OFFICE BUILDING
      $5,220,000
      Change: -14% Conversion: Difficult
      RETAIL STORES
      $5,020,000
      Change: -17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.4933
    Latitude
    35.6106
    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
    $89,932
    $226,057
    $529,545
    $755,602
    -
    $2,838,864
    $6,650,137
    $9,489,001

    Comparable in this City

    • Value Estimation
      $11,200,000
      44,375 SF

      12929 Kelley Ave

      AUTO REPAIR, GARAGE • 44,375 SF
      12929 Kelley Ave, Oklahoma City, OK 73131-1800
      View Details
    • Value Estimation
      $3,520,000
      16,856 SF

      8300 I 35th Service Rd

      AUTO REPAIR, GARAGE • 16,856 SF
      8300 I 35th Service Rd, Oklahoma City, OK 73131-5600
      View Details
    • Value Estimation
      $745,000
      8,768 SF

      10508 Coltrane Rd

      AUTO REPAIR, GARAGE • 8,768 SF
      10508 Coltrane Rd, Oklahoma City, OK 73131-6817
      View Details
    • Value Estimation by Request
      2.00 Acres

      Oklahoma City, OK 73131

      PARKING LOT • 2.00 Acres
      Oklahoma City, OK 73131
      View Details
    • Value Estimation
      $1,020,000
      3,513 SF

      1821 Memorial Rd

      CAR WASH • 3,513 SF
      1821 Memorial Rd, Oklahoma City, OK 73131-1251
      View Details
    • Value Estimation by Request
      0.44 Acres

      9124 Kelley Ave

      PARKING LOT • 0.44 Acres
      9124 Kelley Ave, Oklahoma City, OK 73131-2418
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7,565 SF

      Retail Space in High Traffic

      Retail space available in high-traffic area, ready for build-out.
      1387 E Memorial Rd, Edmond, OK 73131
      View Details
    • $1,400,000
      11,204 SF

      Oklahoma City Office Building For Sale

      Fully furnished, 11,204 RSF office building with ample parking.
      8701 N. Kelley Avenue, Oklahoma City, OK 73131
      View Details
    • New
      $125,000
      1.09 Acres

      Oklahoma City Vacant Land Parcel

      1.09 acre vacant lot near Oklahoma City and Edmond.
      0002 Ridgeway Rd, Oklahoma City, OK 73131
      View Details
    • $625,000
      1.50 Acres

      I-35 Commercial Land - Oklahoma City

      1.5-acre commercial lot, high visibility.
      11800 N Ave, Oklahoma City, OK 73131
      View Details
    • New
      $125,000
      1.09 Acres

      Oklahoma City Acreage Homesite

      1.09-acre homesite with views of the OKC skyline.
      0004 Ridgeway Rd, Oklahoma City, OK 73131
      View Details
    • Contact for pricing

      106 Acres Near Kilpatrick Turnpike

      Prime land for mixed-use development near Chisholm Creek.
      12700 N Eastern Ave, Oklahoma City, OK 73131
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr

      Retail/Entertainment Space in North OKC

      Lease opportunity near NE Kelley and E Hefner Road.
      1137 E Hefner Rd, Oklahoma City, OK 73131
      View Details
    • $12 SF/Yr
      3,120 SF

      Retail Space on N Eastern

      Retail space available for rent on N Eastern Avenue.
      13512 N Eastern Ave, Oklahoma City, OK 73131
      View Details
    • $23 SF/Yr
      3,158 SF

      Tower Lakes Office Suite Available

      Prestigious Office Space, 1579 sq ft
      9120 Kelley Ave, Oklahoma City, OK 73131
      View Details
    • Contact for pricing
      37,620 SF

      Warehouse Space Available For Lease

      37,620 square foot warehouse with dock doors available 2026.
      11301 Partnership Dr, Oklahoma City, OK 73131
      View Details
    • $5,000 /Mo
      2,800 SF

      Oklahoma City Office Space For Lease

      Flexible office space in a convenient Oklahoma City location.
      207 E Memorial Rd, Oklahoma City, OK 73131
      View Details

    Property Visit Statistics

    • Visits by month
      6.3k
    • Visitors by month
      4.7k
    • Avg Time on site
      53 min
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    1121 Memorial Rd
    Oklahoma City, OK 73131-1235
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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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