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    Property profile & analytics

    1609 Elm St El Reno, OK 73036-4261

    • Drug stores
    • 11,953 SF
    • 1.57 lot acres
    OFF-MARKET
    Value Estimations
    $1,775,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0237145
    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

    • Drug stores

    Property Details for 1609 Elm St

    Year built
    2018
    Lot size
    1.57 lot acres
    Property size
    11,953 SF
    Property type
    Drug stores
    APN
    90029913
    APU
    90029913

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,925,000
      6.5%
      $1,775,000
      7%
      $1,650,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,146,000
      Market price range: $365k - $2.15M
      AI Estimate
      $1,403,000
      Market price range: $374k - $1.40M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,490,000
      Current use
      OFFICE BUILDING
      $1,710,000
      Change: +15% Conversion: Easy
      WAREHOUSE, STORAGE
      $1,215,000
      Change: -18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    El Reno
    County
    Canadian
    State
    Oklahoma
    Longitude
    -97.9732
    Latitude
    35.5221
    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
    $31,078
    $66,415
    $223,706
    $290,121
    -
    $553,460
    $1,864,219
    $2,417,679

    Comparable in this City

    • Value Estimation by Request
      800 SF

      312 Elm St

      RETAIL STORES (PERSONAL SERVICES) • 800 SF
      312 Elm St, El Reno, OK 73036-5206
      View Details
    • Value Estimation by Request
      1,718 SF

      1403 Evans Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,718 SF
      1403 Evans Ave, El Reno, OK 73036
      View Details
    • Value Estimation by Request
      5,500 SF

      209 Bickford Ave

      RETAIL STORES (PERSONAL SERVICES) • 5,500 SF
      209 Bickford Ave, El Reno, OK 73036-2756
      View Details
    • Value Estimation by Request
      5,382 SF

      120 Rock Is Ave

      RETAIL STORES (PERSONAL SERVICES) • 5,382 SF
      120 Rock Is Ave, El Reno, OK 73036-2733
      View Details
    • Value Estimation by Request
      1,709 SF

      1220 Sunset Dr

      RETAIL STORES (PERSONAL SERVICES) • 1,709 SF
      1220 Sunset Dr, El Reno, OK 73036-2345
      View Details
    • Value Estimation by Request
      8,614 SF

      100 Choctaw Ave

      RETAIL STORES (PERSONAL SERVICES) • 8,614 SF
      100 Choctaw Ave, El Reno, OK 73036-2649
      View Details

    Similar Nearby for Sale

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      8,000 SF

      El Reno Industrial Building

      8,000 SF building on 0.55 acres. Sale or lease.
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      El Reno Restaurant - Prime Location

      Route 66 Restaurant Space, High Traffic Area
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      El Reno Commercial Land Opportunity

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      El Reno Shopping Center Investment

      Commercial building in El Reno's shopping center, great investment opportunity.
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      El Reno Body Shop Opportunity

      8,000 SF body shop with multiple drive-in doors for sale.
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      8,000 SF auto shop with multiple drive-in doors.
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    Similar Nearby for Lease

    • $7 SF/Yr
      8,000 SF

      El Reno Industrial Building

      Spacious industrial building, sale or lease.
      108 S.E. 27th Street, El Reno, OK 73036
      View Details
    • Contact for pricing
      2,049 SF

      Retail Space in Walmart Shadow

      Retail space available in Walmart shadow center.
      1701-1715 Investors Ave, El Reno, OK 73036
      View Details
    • $6,000 /Mo
      8,040 SF

      Modern Commercial Space in El Reno

      8,000 SF commercial property on 2.35 acres in El Reno.
      1605 E Highway 66, El Reno, OK 73036
      View Details
    • $14 SF/Yr
      4,994 SF

      Park View Building: El Reno Office Space

      Prime El Reno Office, 1,300-3,745 SF Available
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    • Contact for pricing
      7,953 SF

      El Reno Retail Center - Lease Space

      Prime Retail Space Available; High Visibility
      1407 Country Club Rd, El Reno, OK 73036
      View Details
    • Contact for pricing
      1 SF

      Crossroads Pointe: El Reno Retail Land

      Prime I-40 Retail Opportunity: El Reno, OK
      0 Neq I-40 & Hwy 81, El Reno, OK 73036
      View Details
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    1609 Elm St
    El Reno, OK 73036-4261
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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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