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    Property profile & analytics

    23 67th E Ave Tulsa, OK 74115-8700

    • Hotels
    • 39,030 SF
    • 2.29 lot acres
    OFF-MARKET
    Last Sale
    Jul 18, 2024
    $5,200,000
    Value Estimations
    $5,200,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0438124
    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

    • Hotels

    Property Details for 23 67th E Ave

    Year built
    2008
    Construction
    WOOD FRAME
    Lot size
    2.29 lot acres
    Property size
    39,030 SF
    Zone code
    IL
    Property type
    Hotels
    APN
    33400-93-02-08090
    APU
    33400930208090

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,200,000
      ML approach
      $5,200,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,629,000
      Market price range: $1.84M - $4.78M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $3,605,000
      Current use
      MEDICAL BUILDING
      $6,700,000
      Change: +86% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $5,350,000
      Change: +48% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $5,305,000
      Change: +47% Conversion: Difficult
      OFFICE BUILDING
      $4,620,000
      Change: +28% Conversion: Difficult
      RETAIL STORES
      $4,245,000
      Change: +18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Tulsa
    County
    Tulsa
    State
    Oklahoma
    Longitude
    -95.9014
    Latitude
    36.1617
    CBSA code
    46140
    CBSA name
    TULSA, 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
    $43,471
    $18,373
    $305,431
    $323,804
    -
    $175,900
    $2,924,100
    $3,100,000

    Comparable in this City

    • Value Estimation
      $780,000
      15,726 SF

      6416 Archer St

      MOTEL • 15,726 SF
      6416 Archer St, Tulsa, OK 74115-8635
      View Details
    • Value Estimation by Request
      9,368 SF

      6530 Archer St

      MOTEL • 9,368 SF
      6530 Archer St, Tulsa, OK 74115-8721
      View Details
    • Value Estimation by Request
      10,444 SF

      8833 Admiral Pl

      MOTEL • 10,444 SF
      8833 Admiral Pl, Tulsa, OK 74115-8136
      View Details
    • Value Estimation
      $610,000
      17,604 SF

      7475 Admiral Pl

      MOTEL • 17,604 SF
      7475 Admiral Pl, Tulsa, OK 74115-7912
      View Details
    • Value Estimation
      $1,175,000
      25,996 SF

      6730 Archer St

      MOTEL • 25,996 SF
      6730 Archer St, Tulsa, OK 74115-8716
      View Details
    • Value Estimation by Request
      5,045 SF

      6733 Admiral Pl

      MOTEL • 5,045 SF
      6733 Admiral Pl, Tulsa, OK 74115-8705
      View Details

    Similar Nearby for Sale

    • $859,000
      6 SF

      Prime Tulsa Retail Development Opportunity

      Exceptional investment opportunity in Tulsa, Oklahoma, with CL zoning.
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      10,144 SF

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    • $6,000,000
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      Admiral Shopping Center: Value-Add Opportunity

      91,907 SF retail center, Tulsa, OK. Sale or lease.
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      Pending

      Prime Commercial Land Opportunity

      High-visibility commercial land with versatile zoning and highway access.
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    • $859,000

      Corner Lot Near Tulsa Airport

      Corner lot with development potential, near Tulsa International Airport.
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      Vacant Commercial-Industrial Lot For Sale

      Vacant commercial-industrial lot with flexible zoning, suitable for various uses.
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    Similar Nearby for Lease

    • $13 SF/Yr
      9,000 SF

      Retail Spaces Available For Rent

      Retail spaces for rent, ranging from $1200 to $1600 monthly.
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    • Contact for pricing
      4,080 SF

      Retail Space Available For Rent

      4,080 SF retail space with 25 parking spaces.
      728 N Sheridan Rd, Tulsa, OK 74115
      View Details
    • Contact for pricing
      5,250 SF

      Industrial Space with Apartment

      Warehouse space featuring an upstairs one-bedroom apartment.
      6408-6410 E Archer St, Tulsa, OK 74115
      View Details
    • Contact for pricing
      50,724 SF

      Tulsa School/Specialty Property For Rent

      50,724 square foot school/specialty property available for rent.
      280 S Memorial Dr, Tulsa, OK 74115
      View Details
    • $7 SF/Yr

      Industrial Space on Pine Street

      26,000± SF industrial space available for lease.
      5309 E Pine St, Tulsa, OK 74115
      View Details
    • $10 SF/Yr
      39,876 SF

      Admiral Shopping Center: Value-Add Opportunity

      Tulsa Retail Center - Sale or Lease
      6921 E. Admiral Place, Tulsa, OK 74115
      View Details
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    Tulsa, OK 74115-8700
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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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