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

    2121 Portland Ave Oklahoma City, OK 73108-3813

    • Strip malls
    • 20,418 SF
    • 1.80 lot acres
    OFF-MARKET
    Last Sale
    Jun 29, 2022
    $1,800,000
    Value Estimations
    $1,780,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-2292902
    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

    • St Patrick's Catholic Church / Church
    • Enclave Event Center OKC / Hotel & Motel / Resort
    • High Guys Market / Big Box & Wholesale Store
    • High Guys / Big Box & Wholesale Store
    • High Guys Dispensary / (Bike/Boat/Book/etc) Store

    Property Details for 2121 Portland Ave

    Year built
    1959
    Construction
    BRICK
    Lot size
    1.80 lot acres
    Property size
    20,418 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    09-023-1400
    APU
    90231400

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,760,000
      ML approach
      $1,760,000

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $2,315,000
      Current use
      OFFICE BUILDING
      $2,620,000
      Change: +13% Conversion: Moderate
      RETAIL STORES
      $2,520,000
      Change: +9% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.5842
    Latitude
    35.4441
    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
    $23,441
    $25,922
    $172,173
    $198,095
    -
    $235,659
    $1,565,209
    $1,800,868

    Comparable in this City

    • Value Estimation by Request
      6,600 SF

      2636 28th St

      SHOPPING CENTER, STRIP CENTER • 6,600 SF
      2636 28th St, Oklahoma City, OK 73108-5823
      View Details
    • Value Estimation by Request
      2,950 SF

      2821 May Ave

      SHOPPING CENTER, STRIP CENTER • 2,950 SF
      2821 May Ave, Oklahoma City, OK 73108-5623
      View Details
    • Value Estimation by Request
      4,500 SF

      1501 Pennsylvania Ave

      SHOPPING CENTER, STRIP CENTER • 4,500 SF
      1501 Pennsylvania Ave, Oklahoma City, OK 73108-2817
      View Details
    • Value Estimation
      $2,275,000
      14,000 SF

      4400 25th St

      SHOPPING CENTER, STRIP CENTER • 14,000 SF
      4400 25th St, Oklahoma City, OK 73108-1745
      View Details
    • Value Estimation by Request
      8,400 SF

      2700 Agnew Ave

      SHOPPING CENTER, STRIP CENTER • 8,400 SF
      2700 Agnew Ave, Oklahoma City, OK 73108-6230
      View Details
    • Value Estimation by Request
      4,955 SF

      211 Klein Ave

      SHOPPING CENTER, STRIP CENTER • 4,955 SF
      211 Klein Ave, Oklahoma City, OK 73108-1429
      View Details

    Similar Nearby for Sale

    • $850,000
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      Restaurant Building - Oklahoma City

      Prime restaurant space, sale or lease. Excellent location.
      1920 S. Meridian Avenue, Oklahoma City, OK 73108
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    • $1,777,777

      Drive-Thru Restaurant Net Lease

      New construction restaurant with dual drive-thru and net lease.
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      Retail Building For Sale/Lease

      4372 SF building available for sale or lease.
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    • $2,744,000
      6,344 SF

      Retail Property with Long-Term Tenant

      NNN leased retail property with strong local operator.
      1800 S Meridian Ave, Oklahoma City, OK 73108
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    • $1,150,000
      7,989 SF

      Turnkey Restaurant with Large Parking

      Freestanding restaurant with vent hood, cooler, freezer, and parking.
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    • $1,100,000
      12,243 SF

      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
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      2,400 SF

      Established Shopping Center Space

      Well-established shopping center with long-term tenants and high visibility.
      7919-7931 N May Ave, Oklahoma City, OK 73108
      View Details
    • $13 SF/Yr
      36,100 SF

      South Meridian Plaza Retail Center

      Oklahoma City Retail Space - High Visibility
      1011-1045 Meridian Ave, Oklahoma City, OK 73108
      View Details
    • $14 SF/Yr
      14,000 SF

      Meridian Ave Retail Space

      Oklahoma City retail/office space available.
      2600 Meridian Ave, Oklahoma City, OK 73108
      View Details
    • $18 SF/Yr
      3,562 SF

      Oklahoma City Restaurant - Sale/Lease

      Prime restaurant space, 3,562 SF, 0.77 acres, I-2 zoning.
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      View Details
    • $16 SF/Yr
      3,588 SF

      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
      3,000 SF

      Retail Space on Corner Location

      Freestanding retail building with high visibility in Oklahoma City.
      2500 NW 23Rd St, Oklahoma City, OK 73108
      View Details
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    2121 Portland Ave
    Oklahoma City, OK 73108-3813
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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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