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

    2218 39th St Oklahoma City, OK 73112-8834

    • Bars
    • 4,180 SF
    • 0.61 lot acres
    OFF-MARKET
    Last Sale
    Sep 08, 2022
    $1,500,000
    Value Estimations
    $1,490,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-2427156
    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

    • The Boom / Dinner Theater / Cocktail Bar

    Property Details for 2218 39th St

    Year built
    2008
    Construction
    FRAME
    Lot size
    0.61 lot acres
    Property size
    4,180 SF
    Property type
    Bars
    Property subtype
    Pubs
    APN
    05-515-5535
    APU
    55155535

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,465,000
      ML approach
      $1,500,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,936,000
      Market price range: $479k - $1.94M

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

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.5499
    Latitude
    35.511
    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
    $20,330
    $11,655
    $153,873
    $165,528
    -
    $105,960
    $1,398,840
    $1,504,800

    Comparable in this City

    • Value Estimation by Request
      2,020 SF

      5025 Portland Ave

      BAR, TAVERN • 2,020 SF
      5025 Portland Ave, Oklahoma City, OK 73112-6121
      View Details
    • Value Estimation by Request
      5,866 SF

      3509 58th St

      BAR, TAVERN • 5,866 SF
      3509 58th St, Oklahoma City, OK 73112-4446
      View Details
    • Value Estimation by Request
      5,340 SF

      2807 36th St

      BAR, TAVERN • 5,340 SF
      2807 36th St, Oklahoma City, OK 73112-7430
      View Details
    • Value Estimation by Request
      5,103 SF

      6201 May Ave

      RESTAURANT • 5,103 SF
      6201 May Ave, Oklahoma City, OK 73112-4243
      View Details
    • Value Estimation by Request
      2,494 SF

      4421 39th St

      RESTAURANT • 2,494 SF
      4421 39th St, Oklahoma City, OK 73112-2864
      View Details
    • Value Estimation by Request
      3,744 SF

      4021 39th St

      RESTAURANT • 3,744 SF
      4021 39th St, Oklahoma City, OK 73112-2963
      View Details

    Similar Nearby for Sale

    • $1,100,000
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      NW OKC Retail Center

      High-traffic, 100% occupied multi-tenant retail/office complex
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    • $222,750
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      Renovated Office and Retail Space

      Newly renovated office and retail space on N. Meridian Avenue.
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      Oklahoma City Warehouse - $540K

      Vacant Warehouse, 5192 sq ft, Excellent Location
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    • Contact for pricing

      Prime Corner Retail/Automotive Opportunity

      High-visibility corner location suitable for retail or automotive businesses.
      4000 N May Ave, Oklahoma City, OK 73112
      View Details
    • $1,000,000
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      Prime OKC Storefront Opportunity

      High-traffic corner lot retail space.
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    • $850,000
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      Oklahoma City Retail Opportunity

      Retail property in high-traffic Oklahoma City location for sale.
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    Similar Nearby for Lease

    • $12 SF/Yr
      31,385 SF

      Retail Center Across From Hospital

      Retail center with high traffic and diverse tenant mix.
      3315 Expressway NW, Oklahoma City, OK 73112
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    • Contact for pricing
      38,162 SF

      Retail Space on NW Expressway

      Retail space with high visibility and ample parking.
      3621-3625 Expressway NW, Oklahoma City, OK 73112
      View Details
    • $15 SF/Yr
      1,200 SF

      Retail Space Near Penn Square

      Retail space adjacent to Penn Square Mall available for lease.
      5601 N Pennsylvania Ave, Oklahoma City, OK 73112
      View Details
    • Contact for pricing
      3,000 SF

      Retail Endcap Space Available

      3,000 SF retail endcap on May Avenue, available January 2025.
      5916-5920 N May Ave, Oklahoma City, OK 73112
      View Details
    • $12 SF/Yr
      2,000 SF

      Retail Spaces Available for Lease

      Two 2,000 SF retail spaces in accessible south OKC corridor.
      2840-2846 NW 59Th St, Oklahoma City, OK 73112
      View Details
    • $14 SF/Yr
      7,200 SF

      Oklahoma City Executive Suites

      Modern Office Space, 1700-5500 SF
      4100 Perimeter Center Dr, Oklahoma City, OK 73112
      View Details
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    2218 39th St
    Oklahoma City, OK 73112-8834
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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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