Sign Up Successful!
You now have access to more from Realmo!
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

    1604 23rd St Oklahoma City, OK 73106

    • Turn key restaurants
    • 2,268 SF
    • 0.60 lot acres
    OFF-MARKET
    Value Estimations
    $320,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0518559
    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

    • Cash America Pawn / Pawn Shop / Gold Dealer

    Property Details for 1604 23rd St

    Year built
    1969
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.60 lot acres
    Property size
    2,268 SF
    Property type
    Turn key restaurants
    APN
    04-500-1260
    APU
    45001260

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $280,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $363,000
      Market price range: $138k - $363k

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

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.5375
    Latitude
    35.493
    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
    $9,654
    $16,859
    $61,743
    $78,602
    -
    $153,270
    $561,298
    $714,568

    Comparable in this City

    • Value Estimation
      $225,000
      1,640 SF

      2310 Western Ave

      RESTAURANT • 1,640 SF
      2310 Western Ave, Oklahoma City, OK 73106-6223
      View Details
    • Value Estimation
      $465,000
      3,426 SF

      1800 16th St

      RESTAURANT • 3,426 SF
      1800 16th St, Oklahoma City, OK 73106-2031
      View Details
    • Value Estimation
      $250,000
      512 SF

      1321 Classen Blvd

      RESTAURANT • 512 SF
      1321 Classen Blvd, Oklahoma City, OK 73106-6811
      View Details
    • Value Estimation
      $375,000
      7,260 SF

      1804 16th St

      RESTAURANT • 7,260 SF
      1804 16th St, Oklahoma City, OK 73106-2031
      View Details
    • Value Estimation
      $830,000
      2,490 SF

      1400 23rd St

      RESTAURANT • 2,490 SF
      1400 23rd St, Oklahoma City, OK 73106-3620
      View Details
    • Value Estimation
      $235,000
      3,854 SF

      1204 17th St

      RESTAURANT • 3,854 SF
      1204 17th St, Oklahoma City, OK 73106-4202
      View Details

    Similar Nearby for Sale

    • $969,000
      5,500 SF

      Oklahoma City Retail Investment

      High-traffic corner property, 5,500 SF
      1201 Reno Ave, Oklahoma City, OK 73106
      View Details
    • Contact for pricing
      0.16 Acres

      Prime Retail/Office Space Available

      Retail/office spaces in Oklahoma City's vibrant Plaza District.
      1744 NW 15Th St, Oklahoma City, OK 73106
      View Details
    • Contact for pricing
      0.16 Acres

      Prime Retail/Office Space Available

      Retail/office spaces in Oklahoma City's vibrant Plaza District.
      1744 NW 15Th St, Oklahoma City, OK 73106
      View Details
    • New
      $199,000
      984 SF

      Oklahoma City Mixed-Use Redevelopment Opportunity

      Mixed-use property in a rapidly evolving, highly visible Oklahoma City location.
      1628 Linwood Blvd, Oklahoma City, OK 73106
      View Details
    • $399,000
      4,750 SF

      Warehouse/Showroom with Excellent Accessibility

      4,750 SF light industrial property with showroom, warehouse, fenced yard.
      1825 W Main St, Oklahoma City, OK 73106
      View Details
    • $860,000
      Pending

      Oklahoma City Retail Opportunity

      Retail property available in Oklahoma City, 4587 square feet.
      1138 N Blackwelder Ave, Oklahoma City, OK 73106
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      3,105 SF

      Restaurant Space in Oklahoma City

      Restaurant space with existing kitchen equipment and high traffic.
      2220 N Classen Blvd, Oklahoma City, OK 73106
      View Details
    • $276 SF/Yr
      12,095 SF

      Plaza District Retail Spaces

      Oklahoma City's vibrant Plaza District: Lease Now!
      1744 15Th St, Oklahoma City, OK 73106
      View Details
    • $10 SF/Yr
      3,768 SF

      Oklahoma City Retail Building

      Prime Retail Space - Sale or Lease
      1304 N.W. 23rd Street, Oklahoma City, OK 73106
      View Details
    • $350,000
      1,180 SF

      Freestanding Building in Prime Location

      Freestanding building suitable for retail, office, or flex space.
      9110 N Western Ave, Oklahoma City, OK 73106
      View Details
    • $20 SF/Yr
      4,596 SF

      Retail Space on Western Avenue

      Retail space available for lease on N Western Ave.
      6714 N Western Ave, Oklahoma City, OK 73106
      View Details
    • $7 SF/Yr
      9,500 SF

      Office, Retail, and Warehouse Space

      Versatile property with office, retail, and high-clear warehouse space.
      6845 S Western Ave, Oklahoma City, OK 73106
      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.
    1604 23rd St
    Oklahoma City, OK 73106
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.