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    123 S Seneca Ave Bartlesville, OK 74003

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    123 S Seneca Ave Bartlesville, OK 74003

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    • Office properties & Spaces
    • 1,010 SF
    • 0.13 lot acres
    For Sale
    $123,900
    View Listing →
    Downtown Bartlesville Commercial Bungalow For Sale
    $123,900
    1,010 SF

    Downtown Bartlesville Commercial Bungalow

    Functional commercial space in downtown Bartlesville, Oklahoma.

    123 S Seneca Avenue, Bartlesville, OK 74003
    View Listing
    Property ID
    US69-0859946
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Nujoint Chiropractic / Alternative Medicine Practice
    • Lance Bailey / Alternative Medicine Practice

    Property Details for 123 S Seneca Ave

    Year built
    1925
    Lot size
    0.13 lot acres
    Property size
    1,010 SF
    Property type
    Office properties & Spaces

    Description

    This exceptional 1,010 square foot office building, located at 123 S Seneca Avenue Unit 123 in Bartlesville, Oklahoma, presents a unique investment opportunity. Situated on a 0.13-acre lot, this adorable bungalow has been thoughtfully converted into a highly functional commercial space. Currently utilized as an office, its C-5 zoning allows for a diverse range of uses, including retail, art studio, or co-working space. The versatility of this property makes it an ideal choice for entrepreneurs and businesses seeking a distinctive presence in the heart of Bartlesville. Beyond the main building, a significant advantage is the inclusion of a substantial 478 square foot basement, offering ample storage or additional workspace. Furthermore, a detached, two-car garage provides convenient parking and extra space, totaling 559 square feet. This property is priced competitively at $135,000, offering a compelling return on investment in a thriving downtown location. The combination of its charming character, flexible zoning, and generous additional space makes this a truly exceptional commercial property. Don't miss the chance to own this versatile and well-located building in the vibrant city of Bartlesville.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Bartlesville
    County
    Washington
    State
    Oklahoma
    Longitude
    -95.96916
    Latitude
    36.75114

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      Downtown Bartlesville Mixed-Use Building

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      Downtown Bartlesville Office Building

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    • $123,900
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      Downtown Bartlesville Commercial Bungalow

      Functional commercial space in downtown Bartlesville, Oklahoma.
      123 S Seneca Ave, Bartlesville, OK 74003
      View Details

    Similar Nearby for Sale

    • $119,000
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      Commercial Property Ideal for Retail

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    • $119,000
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      Bartlesville Commercial Property For Sale

      Affordable commercial property suitable for office or retail use.
      317 SE Delaware Ave, Bartlesville, OK 74003
      View Details
    • $125,000
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      Versatile Commercial Building with Extra Land

      3,120 SF metal building suitable for various business uses.
      309 S Bucy Ave, Bartlesville, OK 74003
      View Details
    • $232,500
      Pending

      Commercial Property in Bartlesville, OK

      Commercial property for sale in Bartlesville, Oklahoma.
      707 S Osage Ave, Bartlesville, OK 74003
      View Details
    • $300,000
      Pending

      Downtown Bartlesville Mixed-Use Building

      Mixed-use property in Bartlesville's thriving Downtown Business District.
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      View Details
    • $599,000
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      Downtown Bartlesville Office Building

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      View Details
    View Listing
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    Bartlesville, OK 74003
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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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