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    Property profile & analytics

    2222 Hefner Rd Oklahoma City, OK 73120

    • Strip malls
    • 18,468 SF
    • 2.13 lot acres
    For Lease
    View listing
    $12 SF/Yr
    Last Sale
    Jun 17, 2021
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0712515
    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

    • Diamond Kitchen and Bath / Hardware & Home Improvement / Interior Design
    • Stage 2 Event Center / Hotel & Motel / Resort
    • Ekklesia OKC / Church
    • Friendly Market Dispensary & Kratom Shop on Hefner / (Bike/Boat/Book/etc) Store

    Property Details for 2222 Hefner Rd

    Year built
    2009
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.13 lot acres
    Property size
    18,468 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    12-666-2008
    APU
    126662008

    Description

    This exceptional retail property, located at 2222 W Hefner Rd in Oklahoma City, Oklahoma, offers 31,284 square feet of prime commercial space. The property is classified as Class B and zoned for commercial use, making it ideal for a variety of retail businesses. The building boasts an attractive brick exterior and benefits from high visibility due to its location between May and Penn Avenues on West Hefner Road. A signal is present at the property, further enhancing its visibility and accessibility to potential customers. The center is a well-established retail destination, situated within a high-traffic area, ensuring significant foot traffic and exposure for tenants. The property is a multi-tenant building, providing flexibility for businesses of various sizes. The address is 2202-2222 W. Hefner Road, Oklahoma City, OK 73120, within Oklahoma County. This location offers excellent access to major thoroughfares and a strong customer base. The property's size and location make it an attractive opportunity for businesses seeking a prominent presence in a thriving Oklahoma City retail market. The property type is retail, and the zoning is commercial. This is a fantastic opportunity to establish or expand your business in a high-demand area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,587,000
      Market price range: $981k - $3.32M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $2,095,000
      Current use
      MEDICAL BUILDING
      $2,885,000
      Change: +38% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $2,745,000
      Change: +31% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $2,545,000
      Change: +22% Conversion: Easy
      OFFICE BUILDING
      $2,370,000
      Change: +13% Conversion: Moderate
      RETAIL STORES
      $2,280,000
      Change: +9% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Village
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.5534
    Latitude
    35.5797
    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
    $23,769
    $43,100
    $154,795
    $197,895
    -
    $402,719
    $1,446,392
    $1,849,111

    Comparable in this City

    • Value Estimation
      $1,070,000
      27,344 SF

      2624 Britton Rd

      SHOPPING CENTER, STRIP CENTER • 27,344 SF
      2624 Britton Rd, Village, OK 73120-4927
      View Details
    • Value Estimation
      $1,175,000
      25,512 SF

      10946 May Ave

      SHOPPING CENTER, STRIP CENTER • 25,512 SF
      10946 May Ave, Oklahoma City, OK 73120-6202
      View Details
    • Value Estimation
      $940,000
      7,000 SF

      3330 Memorial Rd

      SHOPPING CENTER, STRIP CENTER • 7,000 SF
      3330 Memorial Rd, Oklahoma City, OK 73120-0901
      View Details
    • Value Estimation
      $900,000
      6,606 SF

      9705 May Ave

      SHOPPING CENTER, STRIP CENTER • 6,606 SF
      9705 May Ave, Village, OK 73120-2744
      View Details
    • Value Estimation by Request
      8,000 SF

      8016 May Ave

      SHOPPING CENTER, STRIP CENTER • 8,000 SF
      8016 May Ave, Oklahoma City, OK 73120-4543
      View Details
    • Value Estimation
      $8,885,000
      71,081 SF

      3400 Memorial Rd

      SHOPPING CENTER, STRIP CENTER • 71,081 SF
      3400 Memorial Rd, Oklahoma City, OK 73120-0911
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      Pending

      Oklahoma City Retail Space Available

      Retail space for lease in a high-traffic Oklahoma City location.
      10717 N May Ave, Oklahoma City, OK 73120
      View Details
    • Contact for pricing
      16,241 SF

      Fully Occupied Retail Asset

      Multi-tenant retail asset in Oklahoma City's prime corridor.
      10505 N May Ave, Oklahoma City, OK 73120
      View Details
    • $2,900,000
      18,468 SF

      Hefner Road Retail Center Investment

      Oklahoma City retail building, 18,468 SF, 2.12 acres.
      2222 W. Hefner Road, Oklahoma City, OK 73120
      View Details
    • $1,900,000
      12,688 SF

      Hefner Road Retail Opportunity

      Oklahoma City Retail Building - Sale/Lease
      2202 W. Hefner Road, Oklahoma City, OK 73120
      View Details
    • $2,900,000

      Established Retail Center For Sale

      18,468 SF retail space in a high-traffic area.
      2222 West Hefner Rd, The Village, OK 73120
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      59,000 SF

      The Collonade: Office Suites in The Village

      Prime Office Space, The Village, OK
      9636 May Ave, The Village, OK 73120
      View Details
    • $25 SF/Yr
      6,844 SF

      3000 West Memorial Road, Oklahoma City, OK, 73120

      Office Units • 6,844 SF
      3000 West Memorial Rd, Oklahoma City, OK 73120
      View Details
    • Contact for pricing
      6,850 SF

      Retail Space in High-Traffic Location

      Retail space available in a high-traffic Oklahoma City location.
      12400 N May Ave, Oklahoma City, OK 73120
      View Details
    • $10 SF/Yr
      22,573 SF

      Oklahoma City Retail Center

      Prime Retail Space - Excellent Location
      10413 May Ave, Oklahoma City, OK 73120
      View Details
    • $16 SF/Yr
      15,000 SF

      Casady Square Retail Opportunity

      Prime retail property in Oklahoma City's Casady Square.
      2103-2113 W Britton Rd, Oklahoma City, OK 73120
      View Details
    • $12 SF/Yr
      2,848 SF

      1,100 SF-2,848 SF RETAIL For Lease - The Collanade - 9600-9652 N. May Avenue

      1,100 SF-2,848 SF RETAIL For Lease - The Collanade - 9600-9652 N. May Avenue
      9600-9652 N. May Avenue, Oklahoma City, OK 73120
      View Details
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    2222 Hefner Rd
    Oklahoma City, OK 73120
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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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