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

    1940 Church Ave Harrah, OK 73045-9732

    • Strip malls
    • 8,896 SF
    • 0.32 lot acres
    OFF-MARKET
    Value Estimations
    $375,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0465124
    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

    • Crafty Corner Merchants / Gift Shop

    Property Details for 1940 Church Ave

    Year built
    1925
    Construction
    CONCRETE BLOCKS
    Lot size
    0.32 lot acres
    Property size
    8,896 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    19-808-3380
    APU
    198083380

    Description

    This exceptional commercial property located at 1940 Church Avenue in Harrah, Oklahoma, presents a unique investment opportunity. Boasting approximately 8,896 square feet on a 0.32-acre lot, this versatile space offers a multitude of business possibilities. The building features four individual office spaces, ideal for a variety of professional uses, complemented by open areas perfectly suited for retail operations. Its prime downtown Harrah location ensures high visibility and accessibility, attracting a substantial customer base. The property benefits from convenient access to the Kickapoo Turnpike and I-40, enhancing connectivity and logistical efficiency for businesses and their clientele. The monthly base rent is $1,600, with tenants responsible for utilities. A minimum two-year lease term is required, along with a $1,600 security deposit. The property is available immediately. Please note that the square footage is an estimate (approximately 8,896 sq ft) and potential tenants are advised to independently verify all provided information. This is an excellent opportunity to establish or expand your business in a thriving community. Don't miss out on this chance to secure a prominent commercial space in a strategic location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $300,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $454,000
      Market price range: $455k - $1.67M
      AI Estimate
      $216,000
      Market price range: $217k - $529k

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

    Location Insight

    • Map
    • Local Demand
    City
    Harrah
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.1619
    Latitude
    35.4883
    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
    $2,864
    $4,620
    $24,640
    $29,260
    -
    $42,000
    $224,000
    $266,000

    Comparable in this City

    • Value Estimation
      $295,000
      7,136 SF

      21001 29th St

      SHOPPING CENTER, STRIP CENTER • 7,136 SF
      21001 29th St, Harrah, OK 73045-6591
      View Details
    • Value Estimation
      $275,000
      11,640 SF

      20912 29th St

      SHOPPING CENTER, STRIP CENTER • 11,640 SF
      20912 29th St, Harrah, OK 73045-6439
      View Details
    • Value Estimation
      $330,000
      4,688 SF

      3400 Harrah Rd

      SHOPPING CENTER, STRIP CENTER • 4,688 SF
      3400 Harrah Rd, Harrah, OK 73045-6078
      View Details
    • Value Estimation
      $360,000
      7,560 SF

      21000 29th St

      SHOPPING CENTER, STRIP CENTER • 7,560 SF
      21000 29th St, Harrah, OK 73045
      View Details
    • Value Estimation
      $2,580,000
      15,180 SF

      251 Harrah Rd

      SHOPPING CENTER, STRIP CENTER • 15,180 SF
      251 Harrah Rd, Harrah, OK 73045-6626
      View Details
    • Value Estimation
      $315,000
      6,161 SF

      3390 Harrah Rd

      SHOPPING CENTER, STRIP CENTER • 6,161 SF
      3390 Harrah Rd, Harrah, OK 73045-6161
      View Details

    Similar Nearby for Sale

    • $1,314,717
      4,515 SF

      McDonald's Restaurant with Drive-Thru

      McDonald's restaurant for sale with drive-thru and lease in place.
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      Harrah Warehouse & Acreage Opportunity

      Spacious warehouse, 2.5 acres, owner financing.
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    • $575,000
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      Harrah, OK Prime Corner Lot

      3.89 acres commercial land with highway frontage in Harrah, OK.
      18001 NE 23Rd St, Harrah, OK 73045
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    • $84,000
      5.48 Acres

      Land in Harrah, Oklahoma

      5.475 acre lot suitable for building a home.
      9 Toad Rd, Harrah, OK 73045
      View Details
    • $500,000
      5.50 Acres

      Harrah, OK Commercial Land

      5.5 acre commercial land with frontage in Harrah, Oklahoma.
      105 N Harrah Rd, Harrah, OK 73045
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    • $84,000
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      Land for Residential Development

      5.98 acre lot suitable for building a home.
      14 Toad Rd, Harrah, OK 73045
      View Details

    Similar Nearby for Lease

    • $7 SF/Yr
      2,000 SF

      Retail Space in Harrah, OK

      2,000 SF retail space available now in Harrah, OK.
      1940 Church Ave, Harrah, OK 73045
      View Details
    • $165,000
      1,376 SF

      Restaurant Building on NE 23rd

      Former restaurant with drive-through on busy street in Harrah.
      19857 NE 23Rd St, Harrah, OK 73045
      View Details
    • Contact for pricing

      Land For Rent in Harrah

      Land available for rent in Harrah, Oklahoma.
      6991 N Dobbs Rd, Harrah, OK 73045
      View Details
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    Harrah, OK 73045-9732
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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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