Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1324 Broadway Dr Oklahoma City, OK 73103

    • Commercial real estate
    • 17,780 SF
    • 0.58 lot acres
    For Sale
    View listing
    $2,400,000
    Last Sale
    Aug 29, 2022
    $1,800,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0761489
    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

    • Commercial real estate

    Property Details for 1324 Broadway Dr

    Year built
    1947
    Construction
    BRICK
    Lot size
    0.58 lot acres
    Property size
    17,780 SF
    Property type
    Commercial real estate
    APN
    04-004-8640
    APU
    40048640

    Description

    This exceptional investment opportunity presents a vacant, two-story Class B office building located at 1324 N Broadway Drive in Oklahoma City, OK. The property boasts 27,567 square feet of space, situated on a 25,610 square foot lot, and is priced at $2,400,000, or $87.06 per square foot. Built in 1947, the building offers a unique blend of historic charm and prime commercial real estate potential. The property features ample on-site parking, providing convenience for employees and visitors. Its impressive street presence and strategic location contribute to its significant appeal. The permitted zoning is DTD-1, offering flexibility for a variety of commercial uses. The building's solid construction and desirable location in Oklahoma City make it an attractive proposition for investors seeking a substantial return. This is a rare chance to acquire a significant property in a thriving Oklahoma City market. The property's vacant status allows for immediate customization and tenant improvements to suit a new owner's vision. The substantial lot size also presents opportunities for future expansion or development. This is a truly unique opportunity to acquire a piece of Oklahoma City's commercial history and shape its future. The APN is R040048640.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,125,000
      ML approach
      $2,070,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,800,000
      Market price range: $737k - $2.73M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $2,775,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.5132
    Latitude
    35.482
    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
    $24,321
    $19,404
    $178,620
    $198,024
    -
    $176,400
    $1,623,825
    $1,800,225

    Comparable in this City

    • Value Estimation by Request
      0.13 Acres

      Oklahoma City, OK 73103

      COMMERCIAL (GENERAL) • 0.13 Acres
      Oklahoma City, OK 73103
      View Details
    • Value Estimation by Request
      0.12 Acres

      3013 Paseo

      COMMERCIAL (GENERAL) • 0.12 Acres
      3013 Paseo, Oklahoma City, OK 73103-1020
      View Details
    • Value Estimation by Request
      1,169 SF

      105 22nd St

      COMMERCIAL (GENERAL) • 1,169 SF
      105 22nd St, Oklahoma City, OK 73103-4303
      View Details
    • Value Estimation by Request
      20,440 SF

      1100 Broadway Ave

      Retail properties • 20,440 SF
      1100 Broadway Ave, Oklahoma City, OK 73103
      View Details
    • Value Estimation
      $520,000
      4,773 SF

      2412 Shartel Ave

      COMMERCIAL (GENERAL) • 4,773 SF
      2412 Shartel Ave, Oklahoma City, OK 73103-1439
      View Details
    • Value Estimation by Request
      4,440 SF

      527 23rd St

      COMMERCIAL (GENERAL) • 4,440 SF
      527 23rd St, Oklahoma City, OK 73103-1515
      View Details

    Similar Nearby for Sale

    • $3,250,000
      19,631 SF

      Oklahoma City Multi-Use Building

      19,631 SF Multi-Use Building, 1.28 Acres
      32 N. Broadway Circle, Oklahoma City, OK 73103
      View Details
    • $225,000
      1,083 SF

      Redevelopment Opportunity Near NW 23rd

      Redevelopment opportunity near Oklahoma City University and Paseo District.
      2400 N Robinson Ave, Oklahoma City, OK 73103
      View Details
    • $7,187,400

      Automobile Alley Land Opportunity

      Rare site in Automobile Alley, size negotiable.
      1520 N Broadway Ave, Oklahoma City, OK 73103
      View Details
    • $799,999
      4,000 SF

      Updated Quadplex in Historic Uptown

      Updated quadplex near Paseo and Plaza Districts with modern amenities.
      324 NW 24 Ave, Oklahoma City, OK 73103
      View Details
    • $476,000
      0.28 Acres

      Paseo District Development Opportunity

      Cleared lot approved for up to 17 units in Paseo.
      2522 N Shartel Ave, Oklahoma City, OK 73103
      View Details
    • $199,900
      0.17 Acres

      Paseo Arts District Vacant Lot

      Buildable lot in the vibrant Paseo Arts District.
      722 NW 25Th St, Oklahoma City, OK 73103
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr
      1,922 SF

      Second Floor Bar with Patio

      Second floor bar with patio overlooking downtown Oklahoma City.
      440 NW 11Th St, Oklahoma City, OK 73103
      View Details
    • $22 SF/Yr
      1,758 SF

      Renovated Office Building For Rent

      Two-story, renovated office building in central business district.
      1701-1707 N Broadway Ave, Oklahoma City, OK 73103
      View Details
    • $22 SF/Yr
      9,020 SF

      Broadway Ave Office Building

      Prime Office Space - Lease or Buy
      1701 Broadway Ave, Oklahoma City, OK 73103
      View Details
    • $24 SF/Yr
      59,500 SF

      Buick Building Office Space For Lease

      Downtown OKC Office Building, 18,498 SF Available
      1101 Broadway Ave, Oklahoma City, OK 73103
      View Details
    • $1,704 /Mo
      639 SF

      Move-in Ready Office Space

      Conveniently located office space near highway and Downtown OKC.
      220 NW 13Th St, Oklahoma City, OK 73103
      View Details
    • $1,000 /Mo
      1,000 SF

      Mesta Park Office Suites

      Office suites available for rent in Mesta Park.
      1800-1806 N Shartel Ave, Oklahoma City, OK 73103
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1324 Broadway Dr
    Oklahoma City, OK 73103
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.