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    Property profile & analytics

    1601 119th St Oklahoma City, OK 73170-4902

    • Assisted living facilities
    • 45,967 SF
    • 4.95 lot acres
    OFF-MARKET
    Last Sale
    Mar 05, 2025
    $6,000,000
    Value Estimations
    $6,195,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0300263
    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

    • Sommerset Neighborhood Assisted Living & Memory Care / Nursing Home / Retirement Community
    • Sommerset assisted Living Omc.Okla / Nursing Home / Retirement Community
    • Kimberly Fletcher / Physician

    Property Details for 1601 119th St

    Year built
    1997
    Construction
    WOOD FRAME
    Lot size
    4.95 lot acres
    Property size
    45,967 SF
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    OCC2 10 3W 8030
    APU
    OCC2103W8030

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,583,000
      Market price range: $2.63M - $6.58M
      AI Estimate
      $4,145,000
      Market price range: $735k - $4.15M

    • Alternative Use

      Use
      Estimation
      HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
      $4,815,000
      Current use
      MEDICAL BUILDING
      $7,175,000
      Change: +49% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $6,835,000
      Change: +42% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $6,500,000
      Change: +35% Conversion: Difficult
      OFFICE BUILDING
      $5,900,000
      Change: +22% Conversion: Difficult
      RETAIL STORES
      $5,675,000
      Change: +18% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $5,210,000
      Change: +8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Cleveland
    State
    Oklahoma
    Longitude
    -97.546
    Latitude
    35.3497
    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
    $161,970
    $103,590
    $1,221,210
    $1,324,800
    -
    $863,254
    $10,176,746
    $11,040,000

    Comparable in this City

    • Value Estimation
      $1,055,000
      29,871 SF

      15401 Pennsylvania Ave

      HOMES (RETIRED, NURSING) • 29,871 SF
      15401 Pennsylvania Ave, Oklahoma City, OK 73170-8712
      View Details
    • Value Estimation
      $8,705,000
      54,120 SF

      959 107th St

      HOMES (RETIRED, NURSING) • 54,120 SF
      959 107th St, Oklahoma City, OK 73170-5241
      View Details
    • Value Estimation
      $3,055,000
      62,634 SF

      13200 May Ave

      HOMES (RETIRED, NURSING) • 62,634 SF
      13200 May Ave, Oklahoma City, OK 73170-4541
      View Details
    • Value Estimation
      $3,930,000
      56,212 SF

      2800 131st St

      HOMES (RETIRED, NURSING) • 56,212 SF
      2800 131st St, Oklahoma City, OK 73170-9002
      View Details
    • Value Estimation
      $1,180,000
      58,503 SF

      12310 Western Ave

      HOMES (RETIRED, NURSING) • 58,503 SF
      12310 Western Ave, Oklahoma City, OK 73170-5973
      View Details
    • Value Estimation by Request
      2.24 Acres

      1400 12th St

      HOMES (RETIRED, NURSING) • 2.24 Acres
      1400 12th St, Moore, OK 73170-1030
      View Details

    Similar Nearby for Sale

    • $300,000
      0.69 Acres

      Oklahoma City Retail Land Investment

      Prime 0.69-acre retail lot, high-growth area.
      S.W. 134th Street & Pennsylvania Avenue, Oklahoma City, OK 73170
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    • Contact for pricing
      1.90 Acres

      Oklahoma City Land Investment Opportunity

      Prime OKC land, multiple tracts available
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      7,560 SF

      Retail Space with Drive-Thru

      Retail space with drive-thru in high-traffic area.
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    • $419,000

      Prime Development Opportunity on Pennsylvania

      High-traffic commercial pad site ready for development in Moore, OK.
      12101 S Pennsylvania Ave, Moore, OK 73170
      View Details
    • $422,500
      0.97 Acres

      Oklahoma City Commercial Land

      Prime 0.97-acre development site.
      134th Pennsylvania Ave, Oklahoma City, OK 73170
      View Details

    Similar Nearby for Lease

    • $21 SF/Yr
      9,600 SF

      Oklahoma City Medical Office Space

      New Medical Office Suite - 3,010 SF Available
      13700 Western Ave, Oklahoma City, OK 73170
      View Details
    • Contact for pricing
      12,000 SF

      Aspen Creek Office Park Build-to-Suit

      Prime Moore, OK Office Space; Build-to-Suit Opportunity
      13910 Western Ave, Oklahoma City, OK 73170
      View Details
    • $11,660 /Mo
      8,713 SF

      Oklahoma City Office Space

      Office space with conference rooms and kitchen in Oklahoma City.
      1624 SW 122Nd St, Oklahoma City, OK 73170
      View Details
    • Contact for pricing
      1,481 SF

      Oklahoma City Office Space Available

      Office space for lease in Oklahoma City, Oklahoma.
      13909 SW 138Th St, Oklahoma City, OK 73170
      View Details
    • Contact for pricing
      1,482 SF

      Class A Retail Space Available

      New retail space in North Oklahoma City's major trade area.
      13100 N Pennsylvania Ave, Oklahoma City, OK 73170
      View Details
    • $17 SF/Yr
      27,944 SF

      119th & Western Retail Center

      Southwest OKC Retail Space Available
      801 119Th St, Oklahoma City, OK 73170
      View Details
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    Oklahoma City, OK 73170-4902
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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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