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    1501 59Th St Oklahoma City, OK 73119
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    Property profile & analytics

    1501 59Th St Oklahoma City, OK 73119

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    • Wedding venues
    • 30,000 SF
    Off-Market
    Property ID
    US69-0504390
    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

    • MEDNOC STAFFING SOLUTIONS: Employment Agency, Staffing Agency, Medical/Nursing staffing Agency / Employment Agency
    • MedNoc Training College / Vocational School / Training Center

    Property Details for 1501 59Th St

    Year built
    1993
    Property size
    30,000 SF
    Property type
    Wedding venues

    Description

    This exceptional 3,947 square foot retail space, located at 1501 SE 59th St in Oklahoma City, OK 73119, presents a unique investment opportunity. Situated within a larger 30,000 square foot, single-story building constructed in 1993, this property boasts an open floor plan ideally suited for an event center or similar specialty retail use. The space features a fully equipped commercial kitchen, adding significant value and versatility. The building is located in Oklahoma County and offers multiple tenancy options. The property's prime location provides excellent visibility and accessibility, making it an attractive proposition for businesses seeking a high-traffic area. With its spacious layout and existing commercial kitchen infrastructure, this property is ready for immediate occupancy and customization to suit a variety of event-based or specialty retail concepts. The single-story design ensures ease of access and functionality. This is a rare opportunity to acquire a well-located, versatile commercial space in a thriving Oklahoma City market. The property is zoned for retail use and offers significant potential for a variety of businesses. The building's size and layout provide ample space for both customer interaction and operational needs.

    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
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.5443149
    Latitude
    35.406659

    Comparable in this City

    • Contact for pricing

      3204 SW 59th St, Oklahoma City, OK 73119

      Specialty properties
      3204 SW 59Th St, Oklahoma City, OK 73119
      View Details
    • $21 SF/Yr
      29,900 SF

      Retail Space Near Interstate Access

      Retail property with long-term tenants, close to major interstates.
      2835 SW 29Th St, Oklahoma City, OK 73119
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    • New
      $3,700 /Mo
      2,250 SF

      Spacious Commercial Space in Oklahoma

      Open-concept commercial space with flexible layout in South Oklahoma City.
      4301 S Pennsylvania Ave, Oklahoma City, OK 73119
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    • $7 SF/Yr
      1,716 SF

      Retail Space with High Visibility

      Retail space with great access, visibility, and ample parking.
      1327-1339 SW 59Th St, Oklahoma City, OK 73119
      View Details
    • Contact for pricing

      Industrial Land For Rent

      Flexible layout suitable for various business types.
      3220 SW 59Th St, Oklahoma City, OK 73119
      View Details
    • $15 SF/Yr
      49,000 SF

      Oklahoma City Office Space Available

      Office space for rent with highway access in Oklahoma City.
      5300 South Meridian Ave, Oklahoma City, OK 73119
      View Details

    Similar Nearby for Sale

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      820 SF

      Industrial Space Available

      820 SqFt industrial space for sale.
      2140 SW 44Th St, Oklahoma City, OK 73119
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    • $1,500,000

      500-Seat Sanctuary with Extra Lot

      Church with classrooms, kitchen, fellowship hall, offices, and parking.
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    • $2,995,000
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      Oklahoma City Commercial Property

      Commercial property with frontage on Meridian, suitable for redevelopment.
      3600 S Meridian Ave, Oklahoma City, OK 73119
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    • $675,000

      Oklahoma City Retail Opportunity

      Retail space in a thriving Oklahoma City location.
      4605 S Pennsylvania Ave, Oklahoma City, OK 73119
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    • $650,000
      4,710 SF

      Income-Producing Restaurant and Retail Buildings

      Two buildings with long-term tenants and high-visibility signage.
      2415 SW 59Th St, Oklahoma City, OK 73119
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    • $255,000
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      Prime Commercial Space on Portland

      Move-in ready retail space with high visibility and foot traffic.
      3700 S Portland Ave, Oklahoma City, OK 73119
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    Similar Nearby for Lease

    • Contact for pricing

      3204 SW 59th St, Oklahoma City, OK 73119

      Specialty properties
      3204 SW 59Th St, Oklahoma City, OK 73119
      View Details
    • $21 SF/Yr
      29,900 SF

      Retail Space Near Interstate Access

      Retail property with long-term tenants, close to major interstates.
      2835 SW 29Th St, Oklahoma City, OK 73119
      View Details
    • New
      $3,700 /Mo
      2,250 SF

      Spacious Commercial Space in Oklahoma

      Open-concept commercial space with flexible layout in South Oklahoma City.
      4301 S Pennsylvania Ave, Oklahoma City, OK 73119
      View Details
    • $7 SF/Yr
      1,716 SF

      Retail Space with High Visibility

      Retail space with great access, visibility, and ample parking.
      1327-1339 SW 59Th St, Oklahoma City, OK 73119
      View Details
    • Contact for pricing

      Industrial Land For Rent

      Flexible layout suitable for various business types.
      3220 SW 59Th St, Oklahoma City, OK 73119
      View Details
    • $15 SF/Yr
      49,000 SF

      Oklahoma City Office Space Available

      Office space for rent with highway access in Oklahoma City.
      5300 South Meridian Ave, Oklahoma City, OK 73119
      View Details
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    Oklahoma City, OK 73119
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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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    1501 59Th St, Oklahoma City, OK, 73119
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