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    Property profile & analytics

    1202 23rd St Tulsa, OK 74107

    • Grocery and convenience stores
    • 5,793 SF
    • 1.91 lot acres
    OFF-MARKET
    Value Estimations
    $690,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-1480990
    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

    • Western Union / Bank / Credit Union
    • Amazon Locker - Scorpion / Courier Service / Postal Service
    • QuikTrip / Restaurant / Take-out & Catering

    Property Details for 1202 23rd St

    Year built
    2013
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.91 lot acres
    Property size
    5,793 SF
    Zone code
    CN
    Property type
    Grocery and convenience stores
    APN
    33878-92-14-45900
    APU
    33878921445900

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $676,000
      Market price range: $426k - $687k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $420,000
      Current use
      MEDICAL BUILDING
      $995,000
      Change: +138% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $795,000
      Change: +90% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $785,000
      Change: +88% Conversion: Easy
      OFFICE BUILDING
      $685,000
      Change: +64% Conversion: Moderate
      RETAIL STORES
      $630,000
      Change: +51% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Tulsa
    County
    Tulsa
    State
    Oklahoma
    Longitude
    -96.0061
    Latitude
    36.1293
    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
    $29,357
    $83,652
    $135,024
    $218,676
    -
    $800,000
    $1,291,300
    $2,091,300

    Comparable in this City

    • Value Estimation by Request
      2,460 SF

      5950 33rd W Ave

      CONVENIENCE STORE • 2,460 SF
      5950 33rd W Ave, Tulsa, OK 74107-9227
      View Details
    • Value Estimation by Request
      1,992 SF

      3872 Swsw Blvd

      CONVENIENCE STORE • 1,992 SF
      3872 Swsw Blvd, Tulsa, OK 74107-5524
      View Details
    • Value Estimation
      $545,000
      2,400 SF

      6104 41st St

      CONVENIENCE STORE • 2,400 SF
      6104 41st St, Tulsa, OK 74107-6016
      View Details
    • Value Estimation by Request
      3,200 SF

      3031 65th W Ave

      CONVENIENCE STORE • 3,200 SF
      3031 65th W Ave, Tulsa, OK 74107-3100
      View Details
    • Value Estimation by Request
      3,198 SF

      5828 Swsw Blvd

      CONVENIENCE STORE • 3,198 SF
      5828 Swsw Blvd, Tulsa, OK 74107
      View Details
    • Value Estimation
      $1,605,000
      10,368 SF

      6008 49th W Ave

      CONVENIENCE STORE • 10,368 SF
      6008 49th W Ave, Tulsa, OK 74107-8811
      View Details

    Similar Nearby for Sale

    • $999,999
      5,450 SF

      Historic Route 66 Restaurant

      Tulsa eatery, established business.
      4070 Southwest Blvd, Tulsa, OK 74107
      View Details
    • New
      $475,000
      3,000 SF

      Versatile Building on Acreage

      3,000 sq ft building on 5.32 acres near 51st St.
      8302 W 51St St S, Tulsa, OK 74107
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    • Contact for pricing
      5,450 SF

      Route 66 Restaurant Opportunity

      5,450 SF restaurant with equipment and 46 parking spaces.
      4070 Southwest Blvd, Tulsa, OK 74107
      View Details
    • $1,100,000
      8,666 SF

      West Tulsa Warehouse Opportunity

      Spacious industrial warehouse, vacant, great location.
      4925 50Th St, Tulsa, OK 74107
      View Details
    • $195,000
      3.33 Acres

      Tulsa Land: 3.33 Acres Prime Location

      Exceptional Tulsa acreage, ideal development.
      - 3.33 AC 81 Ave, Tulsa, OK 74107
      View Details
    • $699,000
      7,100 SF

      Tulsa Industrial Flex Space

      7,100 SF Flex Warehouse, $699K
      2422 41St St, Tulsa, OK 74107
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,200 SF

      Retail Space in Central Tulsa

      Retail space with high visibility and traffic in central Tulsa.
      5602-5636 E Skelly Dr, Tulsa, OK 74107
      View Details
    • Contact for pricing
      6,000 SF

      Retail Space For Lease

      Retail space available for lease in Tulsa, Oklahoma.
      4227-4289 Southwest Blvd, Tulsa, OK 74107
      View Details
    • $4 SF/Yr
      158,735 SF

      Town West Shopping Center: Prime Tulsa Space

      Versatile Retail, Office, & Warehouse Space
      5610 Skelly Dr, Tulsa, OK 74107
      View Details
    • Contact for pricing
      2,500 SF

      Retail Center at I-44 Harvard

      High-profile retail center located at a major intersection.
      3502 E 51St St, Tulsa, OK 74107
      View Details
    • $5 SF/Yr
      17,360 SF

      Tulsa Industrial Warehouse

      17,360 SF Warehouse, 2.5 Acres
      5100 21St St, Tulsa, OK 74107
      View Details
    • Contact for pricing
      6,880 SF

      Industrial Warehouse Space Available

      6,880 SF warehouse with office space for lease.
      7360-7362 E 38Th St, Tulsa, OK 74107
      View Details

    Property Visit Statistics

    • Visits by month
      75.1k
    • Visitors by month
      32.4k
    • Avg Time on site
      8 min
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    Tulsa, OK 74107
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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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