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    Property profile & analytics

    208 5th Ave Owasso, OK 74055-3449

    • Flex space
    • 12,600 SF
    • 3.89 lot acres
    OFF-MARKET
    Value Estimations
    $995,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0972917
    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

    • Entrusted Hearts Medical Equipment by Baptist Village / Production Facility
    • Connor Strength And Conditioning | Owasso Gyms / Gym & Fitness Center
    • Sherco Machine and Engineering, Inc. / Corporate Office
    • 1st Choice HVACR LLC / HVAC Service / General Contractor
    • That's A Wrap!, LLC / Auto Repair Shop

    Property Details for 208 5th Ave

    Year built
    2017
    Construction
    STEEL FRAME
    Lot size
    3.89 lot acres
    Property size
    12,600 SF
    Zone code
    IL
    Property type
    Flex space
    APN
    61209-14-31-01220
    APU
    61209143101220

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,120,000
      6.5%
      $1,030,000
      7%
      $960,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,271,000
      Market price range: $377k - $1.27M
      AI Estimate
      $681,000
      Market price range: $288k - $681k

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $830,000
      Current use
      OFFICE BUILDING
      $1,465,000
      Change: +77% Conversion: Difficult
      RETAIL STORES
      $1,370,000
      Change: +66% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $905,000
      Change: +9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Owasso
    County
    Tulsa
    State
    Oklahoma
    Longitude
    -95.8515
    Latitude
    36.2579
    CBSA code
    46140
    CBSA name
    TULSA, 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
    $31,580
    $8,189
    $280,824
    $289,013
    -
    $102,000
    $3,498,000
    $3,600,000

    Comparable in this City

    • Value Estimation
      $800,000
      10,304 SF

      1301 Main St

      LIGHT INDUSTRIAL • 10,304 SF
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    • Value Estimation by Request
      4,500 SF

      7762 Owasso Expy

      LIGHT INDUSTRIAL • 4,500 SF
      7762 Owasso Expy, Owasso, OK 74055-3338
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    • Value Estimation by Request
      7,690 SF

      116 Broadway St

      LIGHT INDUSTRIAL • 7,690 SF
      116 Broadway St, Owasso, OK 74055-2909
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    • Value Estimation by Request
      64,800 SF

      314 5Th Ave

      Flex space • 64,800 SF
      314 5Th Ave, Owasso, OK 74055
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    • Value Estimation by Request
      7,200 SF

      11120 112th N St

      LIGHT INDUSTRIAL • 7,200 SF
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    • Value Estimation by Request
      7,500 SF

      310 5th Ave

      LIGHT INDUSTRIAL • 7,500 SF
      310 5th Ave, Owasso, OK 74055-3458
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,500 SF

      4500 SF Warehouse For Sale

      4500 SF warehouse featuring dock and overhead doors.
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      Land For Sale Owasso, OK

      Land available for sale at 14010 E 116th St N, Owasso, OK.
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      Land Available in Owasso, OK

      Land for sale at 11599 East 96th Street North, Owasso, OK.
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      Land Available in Owasso, OK

      Land available for sale at 9485 N Owasso Expy, Owasso, OK.
      9485 N Owasso Expy, Owasso, OK 74055
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    • $1,595,000
      12.54 Acres

      Owasso Development Opportunity

      Prime land near sports complex, medical facilities, and retail.
      E 106Th St, Owasso, OK 74055
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    • $220,000
      0.51 Acres

      Prime Commercial Lot in Owasso

      Half-acre commercial lot in the heart of Owasso, Oklahoma.
      213 S Dogwood St, Owasso, OK 74055
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    Similar Nearby for Lease

    • $17 SF/Yr
      26,000 SF

      New Construction Flex/Industrial Space

      New construction flex/industrial space with highway visibility, completion Spring 2023.
      7102 N Owasso Expy, Owasso, OK 74055
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    • $15 SF/Yr
      64,800 SF

      5th Avenue Business Park Warehouses

      Owasso, OK industrial warehouse space for lease.
      0 5Th St, Owasso, OK 74055
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      1,250 SF

      Owasso Warehouse Space Available

      1250 square foot warehouse space for rent in Owasso.
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    • Contact for pricing
      9,646 SF

      Owasso Retail Space Available

      Prime Owasso retail space, multiple suites available.
      0 N &, Owasso, OK 74055
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    • Contact for pricing
      6,331 SF

      Prime Retail Space in Owasso

      Retail spaces available in a high-traffic regional power center.
      9002 N 121 Ave E, Owasso, OK 74055
      View Details
    • Contact for pricing
      1,471 SF

      Retail Space in Owasso, OK

      Retail space available for lease in Owasso, Oklahoma.
      401-435 E 2Nd Ave, Owasso, OK 74055
      View Details
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    Owasso, OK 74055-3449
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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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