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

    2221 Central Ave Oklahoma City, OK 73129-1449

    • Turn key restaurants
    • 1,569 SF
    • 0.16 lot acres
    OFF-MARKET
    Last Sale
    Feb 28, 2024
    $92,000
    Value Estimations
    $95,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0606985
    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

    • Mis Amigos Mexican Restaurant L.L.C. / Restaurant
    • Taco Vaca / Mexican Restaurant / Breakfast Restaurant
    • Rico Menudo / Restaurant

    Property Details for 2221 Central Ave

    Year built
    1946
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.16 lot acres
    Property size
    1,569 SF
    Property type
    Turn key restaurants
    APN
    09-833-8685
    APU
    98338685

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $90,000
      ML approach
      $90,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $110,000
      Market price range: $110k - $328k

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

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.5072
    Latitude
    35.443
    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
    $474
    $604
    $3,402
    $4,006
    -
    $13,860
    $77,996
    $91,856

    Comparable in this City

    • Value Estimation
      $255,000
      1,172 SF

      1424 44th St

      RESTAURANT • 1,172 SF
      1424 44th St, Oklahoma City, OK 73129-6923
      View Details
    • Value Estimation
      $225,000
      1,196 SF

      115 44th St

      RESTAURANT • 1,196 SF
      115 44th St, Oklahoma City, OK 73129-2803
      View Details
    • Value Estimation
      $335,000
      3,382 SF

      1501 29th St

      RESTAURANT • 3,382 SF
      1501 29th St, Oklahoma City, OK 73129-7617
      View Details
    • Value Estimation
      $265,000
      2,364 SF

      5917 Shields Blvd

      RESTAURANT • 2,364 SF
      5917 Shields Blvd, Oklahoma City, OK 73129-3631
      View Details
    • Value Estimation
      $285,000
      1,425 SF

      5205 Shields Blvd

      RESTAURANT • 1,425 SF
      5205 Shields Blvd, Oklahoma City, OK 73129-3617
      View Details
    • Value Estimation
      $225,000
      768 SF

      3419 High Ave

      RESTAURANT • 768 SF
      3419 High Ave, Oklahoma City, OK 73129-5129
      View Details

    Similar Nearby for Sale

    • $5,500,000
      19,156 SF

      Turnkey Bar & Kitchen Available

      Bar and kitchen with patio in the Boathouse District.
      504 S Laird Ave, Oklahoma City, OK 73129
      View Details
    • $1,350,000
      4,860 SF

      Freestanding Restaurant Building For Sale

      Former restaurant with drive-thru potential, near I-35.
      3030 I 35 Service Rd, Oklahoma City, OK 73129
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    • $225,000
      864 SF

      Retail Space Near Future Development

      Retail property in high-growth area near upcoming OKANA Resort.
      1124 S Eastern Ave, Oklahoma City, OK 73129
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    • $1,385,000
      15,000 SF

      Iconic Brick Building in Capitol

      Two-story brick building ready for transformation in Capitol Hill.
      220 SW 25Th St, Oklahoma City, OK 73129
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    • $10,500,000
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      Oklahoma City Industrial Portfolio

      21 Buildings, 167,225 SF, High ROI
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    • $729,000
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      I-35 Auto Lot - Oklahoma City

      Prime 1-acre car lot, I-35 visibility.
      1501 44Th St, Oklahoma City, OK 73129
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    Similar Nearby for Lease

    • $7,500 /Mo
      1,406 SF

      Former Sonic Drive-In For Rent

      Redevelopment opportunity in high-traffic corridor south of downtown.
      3000 I 35 Service Rd, Oklahoma City, OK 73129
      View Details
    • $8 SF/Yr
      5,470 SF

      Capitol Hill Restaurant Space

      Restaurant space in prime Capitol Hill location with strong foot traffic.
      322-324 SW 25Th St, Oklahoma City, OK 73129
      View Details
    • $13 SF/Yr
      3,240 SF

      Retail Space Near Midwest City

      Retail space available near Midwest City High School.
      7100 SE 15Th St, Oklahoma City, OK 73129
      View Details
    • $16 SF/Yr
      2,000 SF

      Retail Space with Highway Access

      Well-maintained retail space with excellent visibility and ample parking.
      1317 SE 44Th St, Oklahoma City, OK 73129
      View Details
    • $8 SF/Yr
      800 SF

      Warehouse/Office Space with Easy Access

      800 SF warehouse/office space with immediate occupancy and highway access.
      1141 SE Grand Blvd, Oklahoma City, OK 73129
      View Details
    • Contact for pricing
      3,416 SF

      Oklahoma City Office Space

      Office space available for rent in Oklahoma City.
      134 SW 25Th St, Oklahoma City, OK 73129
      View Details
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    2221 Central Ave
    Oklahoma City, OK 73129-1449
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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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