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    2101 Meridian Ave Oklahoma City, OK 73108-1723
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    Property profile & analytics

    2101 Meridian Ave, Oklahoma City, OK 73108-1723

    View on Map
    • Motels
    • 139,772 SF
    • 11.21 lot acres
    Off-Market
    Last Sale May 12, 2022
    $4,510,000
    Property ID
    US69-0638239
    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.
    Value Estimations
    $4,545,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Wyndham Garden Oklahoma City Airport/Bricktown/Fairground / Hotel & Motel
    • LibertyX Bitcoin ATM / Atm

    Property Details for 2101 Meridian Ave

    Year built
    1982
    Construction
    TILT-UP CONCRETE
    Lot size
    11.21 lot acres
    Property type
    Motels
    APN
    14-880-1000
    APU
    148801000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 12, 2022 $4,510,000 Stars Of Meridian LLC Rss Comm 2014ccre15 Ok Wgh LLC Special Warranty Deed $3.6M · Celtic Bank Corporation
    Jul 2, 2020 — Rss Comm 2014ccre15-ok Wgh LLC Fianna Oklahoma LLC Correction Deed · related —
    Feb 17, 2012 — Fianna Tecton Ltd Fianna Oklahoma LLC Quit Claim Deed · related —
    — — Fianna Oklahoma LLC — Deed Of Trust · related $9M · Cantor Com'l R/e Lndg

    Description

    This exceptional 244-room Wyndham Garden hotel presents a compelling investment opportunity in Oklahoma City. Located just minutes from Will Rogers World Airport, this full-service, two-story, interior corridor hotel boasts an impressive 11.21-acre lot and three buildings. Built in 1982, the property features an indoor pool and on-site restaurant, catering to both business and leisure travelers. Currently, 146 rooms are actively managed through Wyndham's PMS, while 98 rooms are temporarily removed from the system to reduce costs, presenting a unique opportunity for repositioning. The seller is exploring options including a dual-brand strategy or conversion to office rentals for a mixed-use development. The hotel's substantial banquet and event facilities, including a 1,800 square foot atrium and Grand Ballroom accommodating up to 350 guests, are currently underutilized. The property generated $2,055,473 in revenue in 2022 and $2,129,187 in 2023, currently underperforming at 51% of the RevPAR for its competitive set. The asking price is $5,800,000 ($23,700 per key). Oklahoma City's robust growth, ranked #1 nationally for lowest cost of living among large cities in 2023 by C2ER, and the recent $89 million expansion at Will Rogers World Airport, further enhance this property's potential. The hotel benefits from its proximity to major interstates (I-44 & I-40) and numerous demand generators, including the Oklahoma City Zoo and the Oklahoma City National Memorial and Museum. This is a rare chance to acquire a well-located hotel with significant upside potential in a thriving market. The property's APN is 14-880-1000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,410,000
      ML approach
      $4,760,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.6021
    Latitude
    35.4432
    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
    $86,095
    $67,147
    $673,072
    $740,219
    -
    $610,435
    $6,118,829
    $6,729,264

    Comparable in this City

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    • Value Estimation
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      417 Meridian Ave

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      4400 Riv Park Dr

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    • Value Estimation
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      66,300 SF

      1200 Meridian Ave

      MOTEL
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      View Details

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      Former Restaurant on S Meridian

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      Industrial Flex Space Available

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    Oklahoma City, OK 73108-1723
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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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