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

    215 Western Ave Oklahoma City, OK 73106

    • Flex space
    • 8,820 SF
    • 0.32 lot acres
    For Lease
    View listing
    $9 SF/Yr
    Last Sale
    Oct 12, 2020
    $1,500,000
    Value Estimations
    $1,495,000
    Cap Rate Potential
    3.6%
    Flex space
    Location Intelligence
    Property ID
    US69-0045308
    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

    • Craver Supply / Store

    Property Details for 215 Western Ave

    Year built
    1908
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.32 lot acres
    Property size
    8,820 SF
    Property type
    Flex space
    APN
    01-496-3230
    APU
    14963230

    Description

    This single-tenant industrial property, located at 215 N Western Ave in Oklahoma City, OK 73106, offers 8,820 square feet of warehouse space situated on a 14,000 square foot lot. Built in 1908, the building features ceiling heights ranging from 12 to 16 feet, providing ample vertical space for storage or operations. The property includes one dock-high door and three drive-in doors, ensuring efficient loading and unloading capabilities. Power is supplied by a 3-phase, 400 AMP electrical system. The property is zoned I-2 (Moderate Industrial), allowing for a variety of industrial uses. Its location in west downtown Oklahoma City offers convenient access to I-40, providing excellent connectivity to the broader Oklahoma City metro area and beyond. The vacant building presents a unique opportunity for businesses seeking a versatile industrial space with potential for warehouse, distribution, manufacturing, retail, office, or showroom applications. The property's size and features make it suitable for a range of industrial and commercial uses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,500,000
      ML approach
      $1,470,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $942,000
      Market price range: $320k - $943k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,375,000
      AUTO REPAIR, GARAGE
      $1,310,000
      COMMERCIAL (GENERAL)
      $1,215,000
      OFFICE BUILDING
      $1,130,000
      RETAIL STORES
      $1,090,000
      NEIGHBORHOOD: SHOPPING CENTER
      $1,000,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.5304
    Latitude
    35.4696
    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
    $5,769
    $4,620
    $42,353
    $46,973
    -
    $42,000
    $385,030
    $427,030

    Comparable in this City

    • Value Estimation by Request
      2,590 SF

      910 Virginia Ave

      LIGHT INDUSTRIAL • 2,590 SF
      910 Virginia Ave, Oklahoma City, OK 73106-2443
      View Details
    • Value Estimation by Request
      2,934 SF

      1701 1st St

      LIGHT INDUSTRIAL • 2,934 SF
      1701 1st St, Oklahoma City, OK 73106-3005
      View Details
    • Value Estimation by Request
      4,213 SF

      1801 5th St

      LIGHT INDUSTRIAL • 4,213 SF
      1801 5th St, Oklahoma City, OK 73106
      View Details
    • Value Estimation by Request
      4,600 SF

      1139 Reno Ave

      LIGHT INDUSTRIAL • 4,600 SF
      1139 Reno Ave, Oklahoma City, OK 73106
      View Details
    • Value Estimation by Request
      5,000 SF

      1215 Reno Ave

      LIGHT INDUSTRIAL • 5,000 SF
      1215 Reno Ave, Oklahoma City, OK 73106
      View Details
    • Value Estimation by Request
      2,100 SF

      1209 Main St

      LIGHT INDUSTRIAL • 2,100 SF
      1209 Main St, Oklahoma City, OK 73106-7802
      View Details

    Similar Nearby for Sale

    • $900,000
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      Industrial Flex Building For Sale

      5550 SF industrial flex building available for purchase.
      220 N Western Ave, Oklahoma City, OK 73106
      View Details
    • $505,000
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      Oklahoma City Flex Warehouse

      5,898 SF Flex Space - $505,000
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    • $399,000
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      Warehouse/Showroom with Excellent Accessibility

      4,750 SF light industrial property with showroom, warehouse, fenced yard.
      1825 W Main St, Oklahoma City, OK 73106
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    • $900,000
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      Downtown OKC Industrial Flex Building

      5,550 SF Flex/Warehouse, $900,000
      220 Western Ave, Oklahoma City, OK 73106
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    • $860,000
      2.75 Acres

      Prime OKC Industrial Land

      2.75 Acres, I-2 Zoning, Ready to Build
      1317 Reno Ave, Oklahoma City, OK 73106
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    • $1,049,500
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      Prime Industrial Building Near Downtown

      10,241 sq ft industrial building near Downtown Oklahoma City.
      1737 NW 5Th St, Oklahoma City, OK 73106
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    Similar Nearby for Lease

    • $9 SF/Yr
      8,250 SF

      Main Street Flex Warehouse Space

      8,250 SF Flex/Warehouse; 2,062 SF Available
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    • $1,500 /Mo
      2,928 SF

      Oklahoma City Multi-Use Building

      Versatile 2,928 SF building, ideal for various uses.
      1245 N.W. 2nd Street, Oklahoma City, OK 73106
      View Details
    • $9 SF/Yr
      11,000 SF

      Downtown OKC Warehouse Space Available

      Modern warehouse, 5,536 sq ft vacant, 15 parking spaces.
      1734 1St St, Oklahoma City, OK 73106
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    • $9 SF/Yr
      8,820 SF

      Oklahoma City Warehouse - 8,820 SF

      Spacious industrial warehouse, ideal for various uses.
      215 Western Ave, Oklahoma City, OK 73106
      View Details
    • $7 SF/Yr
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      Office, Retail, and Warehouse Space

      Versatile property with office, retail, and high-clear warehouse space.
      6845 S Western Ave, Oklahoma City, OK 73106
      View Details
    • $8 SF/Yr
      11,460 SF

      Oklahoma City Warehouse - Main St

      11,460 SF Warehouse, Office Space Available
      1627 W Main St Oklahoma City, OK 73106, Oklahoma City, OK 73106
      View Details
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    215 Western Ave
    Oklahoma City, OK 73106
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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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