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

    1515 Expy Expressway Oklahoma City, OK 73118-4411

    • Hotels
    • 65,232 SF
    • 2.78 lot acres
    OFF-MARKET
    Last Sale
    Jul 06, 2023
    $7,400,000
    Value Estimations
    $7,625,000
    Show details
    Cap Rate Potential
    6%
    Hotels
    Location Intelligence
    Property ID
    US69-0554226
    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

    • Hotels

    Property Details for 1515 Expy Expressway

    Year built
    1997
    Construction
    WOOD FRAME
    Lot size
    2.78 lot acres
    Property size
    65,232 SF
    Property type
    Hotels
    APN
    13-304-7000
    APU
    133047000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,960,000
      ML approach
      $8,070,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $7,900,000
      6.5%
      $7,295,000
      7%
      $6,770,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,154,000
      Market price range: $3.23M - $6.15M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $4,885,000
      Current use
      MEDICAL BUILDING
      $10,185,000
      Change: +108% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $9,700,000
      Change: +99% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $8,730,000
      Change: +79% Conversion: Difficult
      OFFICE BUILDING
      $8,370,000
      Change: +71% Conversion: Difficult
      RETAIL STORES
      $8,050,000
      Change: +65% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $7,395,000
      Change: +51% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.5372
    Latitude
    35.5228
    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
    $92,954
    $99,193
    $657,637
    $756,830
    -
    $901,757
    $5,978,518
    $6,880,275

    Comparable in this City

    • Value Estimation
      $8,520,000
      145,693 SF

      6300 Waterford Blvd

      HOTEL • 145,693 SF
      6300 Waterford Blvd, Oklahoma City, OK 73118-1104
      View Details
    • Value Estimation
      $5,220,000
      83,909 SF

      6201 Western Ave

      HOTEL • 83,909 SF
      6201 Western Ave, Oklahoma City, OK 73118-1000
      View Details
    • Value Estimation
      $5,205,000
      50,659 SF

      1511 Expy Expressway

      HOTEL • 50,659 SF
      1511 Expy Expressway, Oklahoma City, OK 73118-4411
      View Details
    • Value Estimation
      $4,910,000
      107,535 SF

      6200 Robinson Ave

      HOTEL • 107,535 SF
      6200 Robinson Ave, Oklahoma City, OK 73118-7469
      View Details
    • Value Estimation
      $2,410,000
      49,967 SF

      6101 Santa Fe Ave

      HOTEL • 49,967 SF
      6101 Santa Fe Ave, Oklahoma City, OK 73118-7526
      View Details
    • Value Estimation
      $1,715,000
      32,758 SF

      5200 Classen Cir

      HOTEL • 32,758 SF
      5200 Classen Cir, Oklahoma City, OK 73118-4428
      View Details

    Similar Nearby for Sale

    • $3,000,000
      0.96 Acres

      OKC Hotel Conversion Opportunity

      55-Room Hotel, Garner/Spark Conversion
      5200 Classen Cir, Oklahoma City, OK 73118
      View Details
    • $145,000
      0.39 Acres

      Oklahoma City Multifamily Development Land

      0.3875 acres MOL with SPUD for multifamily development.
      4113 N Indiana Ave, Oklahoma City, OK 73118
      View Details
    • $195,000
      0.16 Acres

      Land in High-Traffic Location

      Prime lot near shops and restaurants, ready for development.
      1108 NW 47Th St, Oklahoma City, OK 73118
      View Details
    • $250,000
      0.15 Acres

      Land Near Classen Curve

      Investment opportunity near Classen Curve in Oklahoma City.
      5720 N Military Ave, Oklahoma City, OK 73118
      View Details
    • $3,250,000
      27,847 SF

      Richmond Square Office Building

      Executive Office Building, Oklahoma City
      4900 Richmond Sq, Oklahoma City, OK 73118
      View Details
    • $625,000

      Oklahoma City Multifamily Portfolio

      Four fully leased properties, strong ROI.
      4520 Indiana Ave, Oklahoma City, OK 73118
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      30,949 SF

      Richmond Square Office Space

      Oklahoma City office building, 8 suites available
      4900 Richmond Sq, Oklahoma City, OK 73118
      View Details
    • $14 SF/Yr

      Retail Space in Oklahoma City

      Retail property with high foot traffic and competitive rates.
      1148 NE 36Th St, Oklahoma City, OK 73118
      View Details
    • $19 SF/Yr
      2,321 SF

      Class A Office Space Available

      Premium office space with modern design and convenient access.
      5801 Broadway Ext, Oklahoma City, OK 73118
      View Details
    • $21 SF/Yr
      52,649 SF

      Expand Energy: Class A Office Space

      Premium Executive Suites, OKC Location
      6040 Western Ave, Oklahoma City, OK 73118
      View Details
    • $21 SF/Yr
      64,273 SF

      Oklahoma City Retail Space for Lease

      Prime Retail, 64,273 SF, Classen Blvd
      6001 Classen Blvd, Oklahoma City, OK 73118
      View Details
    • $17 SF/Yr
      2,516 SF

      Office Space Available For Rent

      2,516 square feet of office space for lease.
      1900 Expressway NW, Oklahoma City, OK 73118
      View Details
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    1515 Expy Expressway
    Oklahoma City, OK 73118-4411
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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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