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

    2304 May Ave Oklahoma City, OK 73107-3142

    • Retail space
    • 5,720 SF
    • 0.49 lot acres
    OFF-MARKET
    Last Sale
    Feb 20, 2024
    $608,000
    Value Estimations
    $605,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US69-0668090
    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

    • Sherwin-Williams Paint Store / Paint Store

    Property Details for 2304 May Ave

    Year built
    1973
    Construction
    WOOD FRAME
    Lot size
    0.49 lot acres
    Property size
    5,720 SF
    Property type
    Retail space
    APN
    06-358-0310
    APU
    63580310

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $610,000
      ML approach
      $610,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $588,000
      Market price range: $226k - $707k
      AI Estimate
      $507,000
      Market price range: $194k - $667k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $520,000
      Current use
      MEDICAL BUILDING
      $895,000
      Change: +71% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $850,000
      Change: +63% Conversion: Difficult
      OFFICE BUILDING
      $735,000
      Change: +41% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $650,000
      Change: +24% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $495,000
      Change: -5% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $440,000
      Change: -16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Oklahoma
    State
    Oklahoma
    Longitude
    -97.5653
    Latitude
    35.4924
    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
    $6,724
    $9,042
    $45,703
    $54,745
    -
    $85,023
    $429,777
    $514,800

    Comparable in this City

    • Value Estimation
      $475,000
      24,450 SF

      4101 Reno Ave

      RETAIL STORES (PERSONAL SERVICES) • 24,450 SF
      4101 Reno Ave, Oklahoma City, OK 73107-6531
      View Details
    • Value Estimation by Request
      7,248 SF

      3922 10th St

      RETAIL STORES (PERSONAL SERVICES) • 7,248 SF
      3922 10th St, Oklahoma City, OK 73107-6037
      View Details
    • Value Estimation by Request
      9,904 SF

      2341 1st Ter

      RETAIL STORES (PERSONAL SERVICES) • 9,904 SF
      2341 1st Ter, Oklahoma City, OK 73107-6976
      View Details
    • Value Estimation
      $265,000
      1,830 SF

      2908 23rd St

      RETAIL STORES (PERSONAL SERVICES) • 1,830 SF
      2908 23rd St, Oklahoma City, OK 73107-2004
      View Details
    • Value Estimation
      $55,000
      1,800 SF

      1221 Portland Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,800 SF
      1221 Portland Ave, Oklahoma City, OK 73107-1517
      View Details
    • Value Estimation
      $270,000
      2,500 SF

      2901 Portland Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,500 SF
      2901 Portland Ave, Oklahoma City, OK 73107-1511
      View Details

    Similar Nearby for Sale

    • $493,000
      6,250 SF

      Retail Property with Pylon Signage

      Retail property featuring pylon signage and ample parking.
      3200 E Reno Ave, Oklahoma City, OK 73107
      View Details
    • $395,000
      4,372 SF

      N Penn Ave Retail Building

      Oklahoma City storefront, ideal owner/user.
      1008 Pennsylvania Ave, Oklahoma City, OK 73107
      View Details
    • $1,485,000
      8,080 SF

      New Construction Retail/Warehouse Building

      New construction 8,080 SF building with Reno Avenue frontage.
      4415 W Reno Ave, Oklahoma City, OK 73107
      View Details
    • $11,229,766

      Retail Property For Sale

      Retail property available for purchase in Oklahoma City.
      2500 N Pennsylvania Ave, Oklahoma City, OK 73107
      View Details
    • $3,450,000
      19,534 SF

      Versatile Building with Entertainment Features

      19,554 SF building with stage, seating, bars, and kitchen.
      201 N Meridian Ave, Oklahoma City, OK 73107
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    • $552,660

      Oklahoma City Industrial Land

      Prime 36,844 SF industrial lot.
      2100 Reno Ave, Oklahoma City, OK 73107
      View Details

    Similar Nearby for Lease

    • $3,100,000
      38,615 SF

      Prime Retail Space Near Fairgrounds

      High-visibility retail space near I-40 and I-44 intersection.
      101 N Portland Ave, Oklahoma City, OK 73107
      View Details
    • Contact for pricing
      13,905 SF

      Freestanding Retail Building For Lease

      Freestanding retail building with ample parking and high visibility.
      6000 S Pennsylvania Ave, Oklahoma City, OK 73107
      View Details
    • $20 SF/Yr
      1,800 SF

      Retail Space on 23rd Street

      Retail space with high visibility and ample parking available for rent.
      2936 NW 23Rd St, Oklahoma City, OK 73107
      View Details
    • Contact for pricing
      10,000 SF

      Land for Build-to-Suit Retail

      Land available for retail build-to-suit, dispensary and grow facility friendly.
      200 S May Ave, Oklahoma City, OK 73107
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space Near Walmart

      Retail space with excellent visibility near Walmart Supercenter.
      Meridian Ave South, Oklahoma City, OK 73107
      View Details
    • $13 SF/Yr
      2,000 SF

      Retail Space South of I-40

      Retail space with ample parking and multiple signage opportunities.
      1013 S Meridian Ave, Oklahoma City, OK 73107
      View Details
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    Oklahoma City, OK 73107-3142
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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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