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

    1821 Memorial Rd Oklahoma City, OK 73131-1251

    • Car washes
    • 3,513 SF
    • 1.01 lot acres
    OFF-MARKET
    Last Sale
    Dec 21, 2022
    $1,030,500
    Value Estimations
    $1,020,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0667546
    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

    • Car washes

    Property Details for 1821 Memorial Rd

    Year built
    2008
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.01 lot acres
    Property size
    3,513 SF
    Property type
    Car washes
    APN
    18-250-6125
    APU
    182506125

    Description

    This turnkey car wash presents a unique investment opportunity in Oklahoma City, Oklahoma. Located at 1821 E Memorial Rd, 73131, this property boasts a substantial 3,202 square foot building on a generous 1.02-acre lot. Constructed in 2008, the car wash is currently vacant, offering a blank canvas for a new operator or an ideal addition to an existing portfolio. The asking price is $1,500,000, translating to $468.46 per square foot. The property benefits from flexible PUD-360 zoning and enjoys exceptional visibility and accessibility, situated approximately 0.5 miles from Oklahoma Christian University. This prime location within a dense retail corridor benefits from high daily traffic volume, estimated at approximately 194,000 vehicles per day, and is surrounded by national tenants. Oklahoma City's status as the third most car-dependent metro area in the country further underscores the potential for strong returns. This is a rare chance to acquire a well-positioned, sizable car wash property in a thriving market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,010,000
      ML approach
      $1,020,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $914,000
      Market price range: $247k - $915k

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

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.4806
    Latitude
    35.6094
    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
    $13,798
    $43,771
    $72,158
    $115,929
    -
    $397,926
    $655,974
    $1,053,900

    Comparable in this City

    • Value Estimation
      $1,800,000
      9,624 SF

      12200 Holland

      CAR WASH • 9,624 SF
      12200 Holland, Oklahoma City, OK 73131-4000
      View Details
    • Value Estimation by Request
      0.22 Acres

      3800 104th St

      PARKING LOT • 0.22 Acres
      3800 104th St, Oklahoma City, OK 73131-5233
      View Details
    • Value Estimation by Request
      0.56 Acres

      9100 Kelley Ave

      PARKING LOT • 0.56 Acres
      9100 Kelley Ave, Oklahoma City, OK 73131-2418
      View Details
    • Value Estimation
      $3,250,000
      23,439 SF

      12902 Kelley Ave

      VEHICLE SALES, RENTALS • 23,439 SF
      12902 Kelley Ave, Oklahoma City, OK 73131
      View Details
    • Value Estimation
      $745,000
      8,768 SF

      10508 Coltrane Rd

      AUTO REPAIR, GARAGE • 8,768 SF
      10508 Coltrane Rd, Oklahoma City, OK 73131-6817
      View Details
    • Value Estimation by Request
      0.44 Acres

      9124 Kelley Ave

      PARKING LOT • 0.44 Acres
      9124 Kelley Ave, Oklahoma City, OK 73131-2418
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,000 SF

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      Custom Office Space, Prime Location
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      View Details
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      Oklahoma City Acreage for Development

      5.07 acres in Oklahoma City, ideal for residential or commercial.
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    • $12,000,000

      106 Acres Near Kilpatrick Turnpike

      Prime land for mixed-use development near Chisholm Creek.
      12700 N Eastern Ave, Oklahoma City, OK 73131
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    • $899,000
      3,158 SF

      Kelley Ave Duplex Office Investment

      Luxury Duplex Office, Oklahoma City
      9120 Kelley Ave, Oklahoma City, OK 73131
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    • $2,950,000
      10,032 SF

      Venue or Office Building

      5.78 acre venue or office building for sale.
      11200 N Eastern Ave, Oklahoma City, OK 73131
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    Similar Nearby for Lease

    • $12 SF/Yr
      3,120 SF

      Retail Space on N Eastern

      Retail space available for rent on N Eastern Avenue.
      13512 N Eastern Ave, Oklahoma City, OK 73131
      View Details
    • $12 SF/Yr
      9,100 SF

      Stand Alone Retail Building

      Stand-alone retail building in a convenient location available for rent.
      13516 N Eastern Ave, Oklahoma City, OK 73131
      View Details
    • $23 SF/Yr
      3,158 SF

      Tower Lakes Office Suite Available

      Prestigious Office Space, 1579 sq ft
      9120 Kelley Ave, Oklahoma City, OK 73131
      View Details
    • $7 SF/Yr
      37,620 SF

      Warehouse Space Available For Lease

      37,620 square foot warehouse with dock doors available 2026.
      11301 Partnership Dr, Oklahoma City, OK 73131
      View Details
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    1821 Memorial Rd
    Oklahoma City, OK 73131-1251
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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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