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

    1308 Spruce Ave Enid, OK 73703-3340

    • Warehouses
    • 2,400 SF
    • 1.24 lot acres
    OFF-MARKET
    Value Estimations
    $235,000
    Show details
    Cap Rate Potential
    7.5%
    Warehouses
    Location Intelligence
    Property ID
    US69-0849483
    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

    • Oklahoma Environmental Services / Environmental Organization

    Property Details for 1308 Spruce Ave

    Year built
    2001
    Lot size
    1.24 lot acres
    Property size
    2,400 SF
    Property type
    Warehouses
    APN
    3720-00-001-010-0-010-00
    APU
    372000001010001000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $240,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $300,000
      6.5%
      $275,000
      7%
      $255,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $192,000
      Market price range: $71.9k - $192k
      AI Estimate
      $200,000
      Market price range: $84.4k - $201k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $265,000
      RETAIL STORES
      $200,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Enid
    County
    Garfield
    State
    Oklahoma
    Longitude
    -97.8955
    Latitude
    36.4123
    CBSA code
    21420
    CBSA name
    ENID, OK MICROPOLITAN 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
    $3,815
    $8,194
    $27,961
    $36,155
    -
    $65,550
    $223,690
    $289,240

    Comparable in this City

    • Value Estimation
      $270,000
      3,520 SF

      1627 Van Buren St

      WAREHOUSE, STORAGE • 3,520 SF
      1627 Van Buren St, Enid, OK 73703-2514
      View Details
    • Value Estimation
      $290,000
      2,786 SF

      626 Hoover St

      WAREHOUSE, STORAGE • 2,786 SF
      626 Hoover St, Enid, OK 73703-6342
      View Details
    • Value Estimation
      $235,000
      5,160 SF

      1121 Chestnut Ave

      WAREHOUSE, STORAGE • 5,160 SF
      1121 Chestnut Ave, Enid, OK 73703
      View Details
    • Value Estimation
      $225,000
      1,800 SF

      1401 Taylor St

      WAREHOUSE, STORAGE • 1,800 SF
      1401 Taylor St, Enid, OK 73703-3335
      View Details
    • Value Estimation by Request
      4,688 SF

      Enid, OK 73703

      WAREHOUSE, STORAGE • 4,688 SF
      Enid, OK 73703
      View Details
    • Value Estimation
      $225,000
      4,000 SF

      714 Johnson St

      MINI-WAREHOUSE, STORAGE • 4,000 SF
      714 Johnson St, Enid, OK 73703-4329
      View Details

    Similar Nearby for Sale

    • $349,900

      Prime Infill Development Land

      9+ acres near VAFB with utilities available.
      2700 S Van Buren St, Enid, OK 73703
      View Details
    • $600,000

      Enid Commercial Corner Land Available

      8-acre commercial land with excellent access and utilities.
      6615 W Owen K Garriott Rd, Enid, OK 73703
      View Details
    • $219,500

      Highway Frontage Land Opportunity

      Land with highway frontage, ideal for fast food location.
      504 N Van Buren St, Enid, OK 73703
      View Details
    • $79,000
      0.76 Acres

      Enid, OK Land For Sale

      Residential lot available in the Chisholm Ranch area.
      7048 Chestwood Ln, Enid, OK 73703
      View Details
    • $75,000

      Residential Lot in Chisholm District

      Desirable lot for sale in Belle Crossing, Chisholm School District.
      2736 Belle Crossing Dr, Enid, OK 73703
      View Details
    • $275,900
      0.26 Acres

      Versatile Commercial Space in Enid

      Adaptable commercial property with income potential in Enid, Oklahoma.
      102 S Grant St, Enid, OK 73703
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      52,000 SF

      Cold Storage Warehouse with Freezer

      52,000 SF cold storage warehouse with additional freezer space.
      3103 S Van Buren St, Enid, OK 73703
      View Details
    • Contact for pricing
      3,328 SF

      3,328 SF on 0.92 Acres Restaurant Building For Lease - 606 S. Garland Road

      3,328 SF on 0.92 Acres Restaurant Building For Lease - 606 S. Garland Road
      606 S. Garland Road, Enid, OK 73703
      View Details
    • $12 SF/Yr
      8,000 SF

      Retail Space in High Traffic Area

      Retail spaces available in a high-traffic shopping center.
      2311-2333 W Willow Rd, Enid, OK 73703
      View Details
    • $12 SF/Yr
      1,600 SF

      Retail Space in Growing Market

      Retail space ideal for retail, service, or restaurant use.
      2126 N Van Buren St, Enid, OK 73703
      View Details
    • $12 SF/Yr
      4,918 SF

      Enid Office Space For Rent

      Office space available in Enid, multiple size options.
      1420 W Owen K Garriott Rd, Enid, OK 73703
      View Details
    • $22 SF/Yr
      1,600 SF

      Retail Space For Lease

      Retail space available, anchored by national retailers, high traffic location.
      4406 W Owen K Garriott Rd, Enid, OK 73703
      View Details
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    1308 Spruce Ave
    Enid, OK 73703-3340
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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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