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    Property profile & analytics

    12928 May Ave Oklahoma City, OK 73120-0817

    • Assisted living facilities
    • 64,654 SF
    • 3.89 lot acres
    OFF-MARKET
    Last Sale
    Feb 07, 2022
    $6,500,000
    Value Estimations
    $6,430,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0453816
    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

    • Saddlebrook Senior Living / Nursing Home / Retirement Community

    Property Details for 12928 May Ave

    Year built
    1999
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    3.89 lot acres
    Property size
    64,654 SF
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    14-003-6000
    APU
    140036000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,355,000
      ML approach
      $6,375,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,452,000
      Market price range: $3.70M - $9.26M

    • Alternative Use

      Use
      Estimation
      HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
      $6,775,000
      Current use
      MEDICAL BUILDING
      $10,095,000
      Change: +49% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $9,615,000
      Change: +42% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $8,920,000
      Change: +32% Conversion: Difficult
      OFFICE BUILDING
      $8,295,000
      Change: +22% Conversion: Difficult
      RETAIL STORES
      $7,980,000
      Change: +18% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $7,330,000
      Change: +8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.566
    Latitude
    35.6024
    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
    $85,105
    $77,517
    $637,527
    $715,044
    -
    $704,704
    $5,795,696
    $6,500,400

    Comparable in this City

    • Value Estimation
      $2,680,000
      29,524 SF

      8300 May Ave

      HOMES (RETIRED, NURSING) • 29,524 SF
      8300 May Ave, Oklahoma City, OK 73120-4500
      View Details
    • Value Estimation
      $2,500,000
      40,457 SF

      12401 Trl Oaks Dr

      HOMES (RETIRED, NURSING) • 40,457 SF
      12401 Trl Oaks Dr, Oklahoma City, OK 73120-1701
      View Details
    • Value Estimation
      $6,030,000
      168,875 SF

      10401 Vineyard Blvd

      HOMES (RETIRED, NURSING) • 168,875 SF
      10401 Vineyard Blvd, Village, OK 73120-3781
      View Details
    • Value Estimation
      $2,800,000
      34,795 SF

      2301 Manchester Dr

      HOMES (RETIRED, NURSING) • 34,795 SF
      2301 Manchester Dr, Village, OK 73120
      View Details
    • Value Estimation
      $4,235,000
      106,573 SF

      12525 Pennsylvania Ave

      HOMES (RETIRED, NURSING) • 106,573 SF
      12525 Pennsylvania Ave, Oklahoma City, OK 73120-9443
      View Details
    • Value Estimation
      $3,070,000
      21,280 SF

      12401 Dorset Dr

      HOMES (RETIRED, NURSING) • 21,280 SF
      12401 Dorset Dr, Oklahoma City, OK 73120-9190
      View Details

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      Retail and Warehouse Space Available

      Retail and warehouse property with high traffic and ample parking.
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    • Contact for pricing
      16,241 SF

      Fully Occupied Retail Asset

      Multi-tenant retail asset in Oklahoma City's prime corridor.
      10505 N May Ave, Oklahoma City, OK 73120
      View Details

    Similar Nearby for Lease

    • $222 SF/Yr
      4,277 SF

      Country Club Medical Office Park

      Oklahoma City medical office suites, newly renovated.
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    • $10 SF/Yr
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      Remodeled Center For Lease

      Remodeled center suitable for office or retail use.
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      View Details
    • $12 SF/Yr
      2,848 SF

      1,100 SF-2,848 SF RETAIL For Lease - The Collanade - 9600-9652 N. May Avenue

      1,100 SF-2,848 SF RETAIL For Lease - The Collanade - 9600-9652 N. May Avenue
      9600-9652 N. May Avenue, Oklahoma City, OK 73120
      View Details
    • $10 SF/Yr
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      The Collonade: Office Suites in The Village

      Prime Office Space, The Village, OK
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      View Details
    • $10 SF/Yr
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      Oklahoma City Retail Center

      Prime Retail Space - Excellent Location
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      View Details
    • $14 SF/Yr
      1,595 SF

      1,030 SF-1,595 SF OFFICE For Lease - The Collanade - 9600-9652 N. May Avenue

      1,030 SF-1,595 SF OFFICE For Lease - The Collanade - 9600-9652 N. May Avenue
      9600-9652 N. May Avenue, Oklahoma City, OK 73120
      View Details
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    Oklahoma City, OK 73120-0817
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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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