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

    1423 Council Rd Oklahoma City, OK 73128-9504

    • Strip malls
    • 16,844 SF
    • 8.82 lot acres
    OFF-MARKET
    Last Sale
    Jul 08, 2022
    $7,025,000
    Value Estimations
    $6,915,000
    Show details
    Cap Rate Potential
    5.9%
    Strip malls
    Location Intelligence
    Property ID
    US69-2401134
    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

    • Storage King USA / Self-Storage Facility / Moving Supply Store
    • Pruett Lawn & Landscape / Lawn Care Service

    Property Details for 1423 Council Rd

    Year built
    1985
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    8.82 lot acres
    Property size
    16,844 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    14-201-6570
    APU
    142016570

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,870,000
      ML approach
      $7,450,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $6,720,000
      6.5%
      $6,205,000
      7%
      $5,760,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $4,805,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.6556
    Latitude
    35.4512
    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
    $75,077
    $116,242
    $529,246
    $645,488
    -
    $1,056,754
    $4,811,321
    $5,868,075

    Comparable in this City

    • Value Estimation
      $1,715,000
      11,375 SF

      6300 3rd St

      SHOPPING CENTER, STRIP CENTER • 11,375 SF
      6300 3rd St, Oklahoma City, OK 73128-1022
      View Details
    • Value Estimation
      $950,000
      26,892 SF

      2409 Council Rd

      SHOPPING CENTER, STRIP CENTER • 26,892 SF
      2409 Council Rd, Oklahoma City, OK 73128-9526
      View Details
    • Value Estimation
      $4,250,000
      26,852 SF

      6421 3rd St

      SHOPPING CENTER, STRIP CENTER • 26,852 SF
      6421 3rd St, Oklahoma City, OK 73128-2201
      View Details
    • Value Estimation
      $1,150,000
      6,960 SF

      6801 3rd St

      SHOPPING CENTER, STRIP CENTER • 6,960 SF
      6801 3rd St, Oklahoma City, OK 73128-2205
      View Details
    • Value Estimation
      $2,555,000
      16,200 SF

      9520 15th St

      SHOPPING CENTER, STRIP CENTER • 16,200 SF
      9520 15th St, Oklahoma City, OK 73128-4827
      View Details
    • Value Estimation
      $1,095,000
      6,696 SF

      5920 4th Ter

      SHOPPING CENTER, STRIP CENTER • 6,696 SF
      5920 4th Ter, Oklahoma City, OK 73128-1024
      View Details

    Similar Nearby for Sale

    • $3,000,000

      Freestanding Restaurant on Net Lease

      Freestanding restaurant with 7 years remaining on absolute net lease.
      6320 SW 3Rd St, Oklahoma City, OK 73128
      View Details
    • $1,495,000
      3.49 Acres

      Oklahoma City Commercial Land

      3.49-acre lot, high-traffic location.
      0 8Th St, Oklahoma City, OK 73128
      View Details
    • $3,500,000
      24,240 SF

      Industrial Property South I-40 Service Road

      Industrial property located on the South Side of I-40.
      5204 W I 40 Service Rd, Oklahoma City, OK 73128
      View Details
    • New
      $2,500,000
      7.34 Acres

      Prime Commercial Land For Sale

      High-visibility commercial land in a high-traffic, growing area.
      1451 S Morgan Rd, Oklahoma City, OK 73128
      View Details
    • $850,000
      5.25 Acres

      1100 Council Rd

      Distribution properties • 5.25 Acres
      1100 Council Rd, Oklahoma City, OK 73128
      View Details
    • Contact for pricing

      Oklahoma City Commercial Land

      Prime Commercial Land Near I-40
      0 Macarthur Blvd, Oklahoma City, OK 73128
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,000 SF

      Premier Oklahoma City Retail Hub

      Super-regional shopping destination in Oklahoma City MSA.
      6501 SW 3Rd St, Oklahoma City, OK 73128
      View Details
    • Contact for pricing
      1,291 SF

      Premier Retail Destination in Oklahoma

      Super-regional shopping center in Oklahoma City MSA.
      5924 SW 3Rd St, Oklahoma City, OK 73128
      View Details
    • Contact for pricing
      1,656 SF

      Oklahoma City Retail Space Available

      Retail space in a premier Oklahoma City shopping destination.
      5982-5920 SW 4Th Ter, Oklahoma City, OK 73128
      View Details
    • $20 SF/Yr
      1,300 SF

      New Retail Space For Rent

      New construction retail space with ample parking in growing market.
      1600 S Morgan Rd, Oklahoma City, OK 73128
      View Details
    • Contact for pricing

      Prime Land in Westgate Marketplace

      Premier retail destination in western Oklahoma City.
      6617 SW 3Rd St, Oklahoma City, OK 73128
      View Details
    • $12 SF/Yr
      13,500 SF

      New Industrial Suites Available

      New construction industrial suites for lease, completion expected Q4 2025.
      2609 South Ann Arbor Ave, Oklahoma City, OK 73128
      View Details
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    1423 Council Rd
    Oklahoma City, OK 73128-9504
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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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