Add Listing
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

    1524 May Ave Oklahoma City, OK 73108-2247

    • Office properties & Spaces
    • 5,100 SF
    • 1.31 lot acres
    OFF-MARKET
    Value Estimations
    $995,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0665221
    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

    • Allstate Electrical Contractors, Inc / Electrical Service / General Contractor
    • Otto R Krueger Electric Inc / Electrical Service / General Contractor

    Property Details for 1524 May Ave

    Year built
    2007
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.31 lot acres
    Property size
    5,100 SF
    Property type
    Office properties & Spaces
    APN
    26-106-8590
    APU
    261068590

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,175,000
      6.5%
      $1,085,000
      7%
      $1,005,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,075,000
      Market price range: $216k - $1.08M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $910,000
      Current use
      RESTAURANT
      $1,455,000
      Change: +60% Conversion: Difficult
      MEDICAL BUILDING
      $795,000
      Change: -13% Conversion: Easy
      AUTO REPAIR, GARAGE
      $760,000
      Change: -17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.5649
    Latitude
    35.4504
    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
    $5,235
    $6,556
    $43,996
    $50,552
    -
    $59,605
    $399,959
    $459,564

    Comparable in this City

    • Value Estimation by Request

      1209 Sovereign Row

      Office properties & Spaces
      1209 Sovereign Row, Oklahoma City, OK 73108
      View Details
    • Value Estimation by Request
      561 SF

      2100 Agnew Ave

      OFFICE (GENERAL) • 561 SF
      2100 Agnew Ave, Oklahoma City, OK 73108-6212
      View Details
    • Value Estimation by Request
      864 SF

      300 May Ave

      OFFICE (GENERAL) • 864 SF
      300 May Ave, Oklahoma City, OK 73108-1238
      View Details
    • Value Estimation by Request
      598 SF

      2727 25th St

      OFFICE (GENERAL) • 598 SF
      2727 25th St, Oklahoma City, OK 73108-5816
      View Details
    • Value Estimation by Request
      884 SF

      2223 Agnew Ave

      OFFICE (GENERAL) • 884 SF
      2223 Agnew Ave, Oklahoma City, OK 73108-6213
      View Details
    • Value Estimation by Request
      1,260 SF

      220 Agnew Ave

      OFFICE (GENERAL) • 1,260 SF
      220 Agnew Ave, Oklahoma City, OK 73108-1232
      View Details

    Similar Nearby for Sale

    • $1,500,000
      9,375 SF

      Oklahoma City Cannabis Grow Facility

      Fully functional, 9,375 SF grow facility for sale.
      Stockyards Area, Oklahoma City, OK 73108
      View Details
    • $2,900,000

      Multi-Tenant Flex Investment Opportunity

      Stabilized flex property with diversified tenant pool, near I-40.
      1231 Sovereign Row, Oklahoma City, OK 73108
      View Details
    • $280,000
      3,592 SF

      Oklahoma City Flex Space Available

      Flex space available in Oklahoma City, OK.
      2305 S Pennsylvania Ave, Oklahoma City, OK 73108
      View Details
    • Contact for pricing

      Sovereign Row Office Space

      Office space for lease in Sovereign Row Office Complex.
      1209 Sovereign Row, Oklahoma City, OK 73108
      View Details
    • $350,000
      1,776 SF

      Industrial-Zoned Office Building with I-40

      Industrial-zoned office building with I-40 access, suitable for various businesses.
      809 Cornell Pkwy, Oklahoma City, OK 73108
      View Details
    • Contact for pricing
      0.14 Acres

      Residential Land in Oklahoma City

      Residential land for sale in Oklahoma City, Oklahoma.
      1503 S Blackwelder Ave, Oklahoma City, OK 73108
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      93,889 SF

      Meridian Tower: Executive Office Space

      Oklahoma City Office Building: Prime Location, High Visibility
      909 Meridian Ave, Oklahoma City, OK 73108
      View Details
    • $8 SF/Yr
      23,766 SF

      Oklahoma City Flex Space For Lease

      Modern Flex Space, Southwest OKC
      1300 Cornell Pkwy, Oklahoma City, OK 73108
      View Details
    • $15 SF/Yr

      Office Space Near I-40

      Office space easily accessible by I-40 and I-44.
      1201 S Meridian Ave, Oklahoma City, OK 73108
      View Details
    • $8 SF/Yr
      4,882 SF

      Oklahoma City Flex Office Space

      Southwest OKC - 4,882 SF Office
      4229 Royal Ave, Oklahoma City, OK 73108
      View Details
    • $14 SF/Yr
      14,000 SF

      Meridian Ave Retail Space

      Oklahoma City retail/office space available.
      2600 Meridian Ave, Oklahoma City, OK 73108
      View Details
    • $12 SF/Yr
      11,520 SF

      Oklahoma City Office Building

      11,520 SF Office Space For Lease
      4411 Highline Blvd, Oklahoma City, OK 73108
      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.
    1524 May Ave
    Oklahoma City, OK 73108-2247
    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.
    Sign Up Successful!
    You now have access to more from Realmo!