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    Property profile & analytics

    2101 May Ave Oklahoma City, OK 73108-4443

    • Individual retail properties
    • 2,122 SF
    • 0.28 lot acres
    OFF-MARKET
    Last Sale
    Dec 17, 2024
    $225,000
    Value Estimations
    $225,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0633264
    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

    • M Jessica's Laundry / Laundromat
    • Maytag / Laundromat

    Property Details for 2101 May Ave

    Year built
    1962
    Construction
    METAL FRAME
    Lot size
    0.28 lot acres
    Property size
    2,122 SF
    Property type
    Individual retail properties
    APN
    08-675-0050
    APU
    86750050

    Description

    This exceptional investment opportunity presents a vacant, 2,122 square foot laundromat located at 2101 S May Ave, Oklahoma City, OK 73108. Priced at $399,000, this single-story, 1962-built property sits on a 0.28-acre lot zoned I-2 (Moderate Industrial). The building is fully serviced with water, electric, and gas utilities, and features an online security system. All necessary laundromat equipment is included in the sale, making this a true turnkey operation. Its prime location, just two blocks from Interstate 44, within a residential area, ensures high visibility and convenient access for customers. Ample parking is available on-site. The property also offers significant development potential due to the presence of unused land, allowing for expansion or the addition of complementary services. This owner-user investment presents a rare chance to acquire a well-established business in a thriving Oklahoma City neighborhood. The property is currently vacant, providing immediate opportunity for a new owner.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $225,000
      ML approach
      $225,000

    • Alternative Use

      Use
      Estimation
      LAUNDROMAT (SELF-SERVICE)
      $165,000
      Current use
      COMMERCIAL (GENERAL)
      $280,000
      Change: +69% Conversion: Difficult
      MEDICAL BUILDING
      $175,000
      Change: +6% Conversion: Difficult
      RETAIL STORES
      $165,000
      Change: +1% Conversion: Difficult
      OFFICE BUILDING
      $160,000
      Change: -2% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $155,000
      Change: -7% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.5659
    Latitude
    35.4444
    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
    $1,360
    $1,949
    $9,541
    $11,490
    -
    $19,958
    $97,715
    $117,673

    Comparable in this City

    • Value Estimation by Request
      4,784 SF

      1841 Exchange Ave

      LAUNDROMAT (SELF-SERVICE) • 4,784 SF
      1841 Exchange Ave, Oklahoma City, OK 73108-3022
      View Details
    • Value Estimation
      $280,000
      6,132 SF

      2523 Agnew Ave

      LAUNDROMAT (SELF-SERVICE) • 6,132 SF
      2523 Agnew Ave, Oklahoma City, OK 73108-6219
      View Details
    • Value Estimation
      $820,000
      65,056 SF

      4130 Will Rogers Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 65,056 SF
      4130 Will Rogers Pkwy, Oklahoma City, OK 73108-2038
      View Details
    • Value Estimation
      $295,000
      3,800 SF

      2800 Agnew Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,800 SF
      2800 Agnew Ave, Oklahoma City, OK 73108-6232
      View Details
    • Value Estimation
      $240,000
      2,368 SF

      2600 Portland Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,368 SF
      2600 Portland Ave, Oklahoma City, OK 73108-4833
      View Details
    • Value Estimation
      $360,000
      7,995 SF

      208 Portland Ave

      RETAIL STORES (PERSONAL SERVICES) • 7,995 SF
      208 Portland Ave, Oklahoma City, OK 73108-1002
      View Details

    Similar Nearby for Sale

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      Retail Building For Sale/Lease

      4372 SF building available for sale or lease.
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      Turnkey Restaurant with Large Parking

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    • $1,100,000
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      12,243 SF on 1.37 Acres Fleet Maintenance Facility For Sale-2323 S. Walker Avenue (UNDER CONTRACT)

      12,243 SF on 1.37 Acres Fleet Maintenance Facility For Sale-2323 S. Walker Avenue (UNDER CONTRACT)
      2323 S. Walker Avenue, Oklahoma City, OK 73108
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    Similar Nearby for Lease

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      Oklahoma City Restaurant - Sale/Lease

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    • $16 SF/Yr
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      Oklahoma City Retail Space Available

      3,588 SF retail space in high-traffic Oklahoma City area.
      7926 N May Ave, Oklahoma City, OK 73108
      View Details
    • $3,750 /Mo
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      Retail Space on Corner Location

      Freestanding retail building with high visibility in Oklahoma City.
      2500 NW 23Rd St, Oklahoma City, OK 73108
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    • $15 SF/Yr
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      Retail Space on May Avenue

      Retail space available with frontage and ample parking.
      6807-7013 N May Ave, Oklahoma City, OK 73108
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    • $4,450 /Mo
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      Retail Space on Meridian Avenue

      Retail space with high visibility and signage opportunities available for lease.
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    • $16 SF/Yr
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      Oklahoma City Restaurant Space

      Prime location, 3125 sq ft, outdoor patio potential.
      310 Klein Ave, Oklahoma City, OK 73108
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    2101 May Ave
    Oklahoma City, OK 73108-4443
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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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